Khaleej Times, Monday, Jun 27, 2022 | Zul Qaadah 27, 1443
Dubai: Over 25,000 expats employees enrol for govt savings scheme
Emirates: More than 1,500 employers and 25,000
employees have enrolled in the Dubai government scheme DEWS, said a senior
official.
The scheme was conceptualised after the Dubai International Financial Centre
Employee Workplace Savings (DEWS) plan and the enrolment of employees will take
place in phases, starting July 1, 2022.
Launched in March 2022, the scheme targets expatriates in Dubai government
entities in the first stage, with the scope of expanding its implementation in
later stages. It’s aimed at attracting and retaining talent by providing an
integrated system that offers various savings opportunities.
Jacques Visser, Chief Legal Officer of DIFC Authority, said employees are
incredibly engaged with the plan as over 90 per cent of members take an active
interest in logging into the DEWS portal/mobile app and benefitting from the
visibility and control that the plan provides in relation to end-of-service
benefits.
A Zurich Workplace Solutions survey – 2021 revealed that 75 per cent of
employees felt that DEWS had positively or very positively impacted the
transparency around their end-of-service benefits, and 80 per cent of employees
felt that DEWS had had a positive or very positive impact on their
end-of-service benefit protection.
Global professional services provider Equiom will act as the master trustee of
the scheme and the independent legal owner of contributions made by employers,
while Zurich Workplace Solutions will support employers and employees through
the administration and management of the plan. Investment services provider
Mercer will provide investment advice to the master trustee of the scheme.