DIFC Employee Workplace Savings Plan (DEWS)

DIFC Employee Workplace Savings Plan (DEWS)

The Dubai International Finance Centre Authority (DIFCA) is introducing a new mandatory defined contribution savings plan, the DIFC Employee Workplace Savings (DEWS) plan to replace the current end of service gratuity scheme.

Further consultation has been encouraged by the DIFC as there is still some further clarity required with regard to approved alternative arrangements.

Boal & Co, as an independent Trustee with a primary focus on the trusteeship and governance of international pension plans would urge all stakeholders to respond to this consultation to help shape this important change to DIFC legislation. The consultation is open to employers, employees and advisors with the deadline for comments being Monday 18 November.

For further details, please see our comments here DIFC Employee Workplace Savings Plan (DEWS)

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