Session 2 of the event by the Gulf Actuarial Society and the Financial Academy.
On 1 February 2020, the DIFC replaced the end-of-service (EOS) gratuity regime with a defined contribution savings plan – the first of its kind in the UAE. This new DC savings plan, called the DIFC Employees Workplace Savings (DEWS) Plan is mandatory for all employers and employees registered in the DIFC. The discussion will look at:
• Why the DIFC implemented this change – the limitations of the current EOS gratuity regime.
• How DEWS was implemented and the impact on past service accrued
• How does DEWS compare with other global schemes?
• Can this change be replicated across the UAE and even across the GCC?