Savings scheme

Dubai Savings Plan for Expats: Everything You Need to Know

This system, the first of its kind in the region, aims to offer employees the possibility of enhancing their savings and their end-of-service benefits.

1. It will improve end-of-service benefits in the Government of Dubai

2. Employees will be able to choose several investment structures, including traditional investment funds and others compatible with Shariah. Employees who do not wish to invest their benefits will also be offered options guaranteeing capital protection.

3. He will deposit the financial contributions from the date of registration in the plan

4. It will explore the extent to which this system can be applied voluntarily to private sector employees in Dubai, after coordination with relevant federal and local entities.

5. It will be managed by a board of directors and international investment institutions, under the supervision of the Dubai International Financial Center

6. The scheme will guarantee all civil servants and their families opportunities for development and a high quality of life, throughout their careers and at the end of their service.

7. The plan offers employees the opportunity to save in different financial portfolios to grow their savings.

8. It will also protect and manage contributions more effectively by paying them into the plan from the date of entry. It will not include financial contributions from previous years of service.

9. A committee will develop an action plan, establish executive procedures, oversee the program’s workflow and achieve its goals, while exploring the possibility of extending the new system to the private sector in Dubai on a voluntary basis.

10. The scheme was conceptualized after the DIFC successfully implemented it in 2020 for employees working under it.

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