DIFC to replace gratuities with savings scheme for expat workers

Pedro Gonçalves
clock • 1 min read

Dubai International Financial Centre (DIFC) is set to replace expat workers' end-of-service gratuity with a low-cost savings plan that offers employees a choice of up to 12 passive investment funds. The UAE is looking to "enhance and improve" the end-of-service benefits awarded to employees to help companies attract and retain talent and ensure firms can adequately fund the liability, according to the government. Nearly 60% of UAE workers depend on gratuity payments to partly of fully fund...

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