Employers in the UAE’s private sector are encouraged to participate in a voluntary ‘Savings Scheme’ as an alternative to traditional end-of-service benefits. The Ministry of Human Resources and Emiratisation (MoHRE) emphasizes that this scheme enhances employee retention, financial security, and business competitiveness. Approved investment funds will manage the contributions, which are based on employees’ current salaries, resulting in lower costs for employers. Workers can make additional contributions and choose from various investment options. The scheme also allows self-employed and freelance individuals to register voluntarily. For more details, visit MoHRE’s website.

Read the full article here