Zurich Workplace Solutions (Middle East) Limited has teamed up with Smart, the organisation that powers the Smart Pension Mastertrust in the UK, a global technology provider transforming financial well- being across all generations, to launch the Zurich for DEWS app in the UAE.
The app, developed by Smart and fully customised for DEWS, the Dubai Internationall Financial Centre (DIFC) Employee Workplace Savings scheme, provides members with a simple, quick and hassle-free digital way to manage their workplace savings accounts.
Along with creating much-needed transparency over these investments, the app responds to emerging appetite for contactless solutions and seamless experience across multiple channels.
This partnership really illustrates what's now possible in retirement technology and we are immensely proud of the end result."
Zurich Middle East said key features for members using the app include:
- Access to their DEWS account from anywhere, at anytime
- Ability to see their latest account value, contribution history and monitor their investments
- Ability to manage their investments and switch their strategies to suit their risk appetite
- Facility to nominate beneficiaries
"When we launched the DEWS plan, we had made a commitment to continually enhance our service offering such that employers and members find the day-to-day interactions easy, intuitive and hassle-free. We want to take away some of the barriers that detract people from making regular savings, and help our members prepare for a secure financial future. The Zurich for DEWS app is the next step in that journey towards financial freedom," said Reena Vivek, senior executive officer at Zurich Workplace Solutions (Middle East) Limited.
Will Wynne, group MD at Smart added, "This partnership really illustrates what's now possible in retirement technology and we are immensely proud of the end result. It's the first of its kind and was created to provide a smooth and simple customer journey, while simultaneously bringing long term savings into the 21st century."
The DIFC's DEWS plan ensures that all contributions by the employer are held in a trust with the Master Trustee, Equiom, on behalf of the employees, and is fully paid out when the employee leaves the employer. That protection is extended to the historical accrued gratuity pots, if these were transferred into the plan, Zurich said.