The new retirement plan for private and free zone sector employees to invest in their end-of-service benefits starts today. It is a voluntary scheme and does not have a minimum salary requirement.
Any employers wishing to participate need to register with the Ministry of Human Resources and Emiratisation.
For full-time employees who have worked for a company for less than five years, employers will contribute 5.83 per cent of their monthly basic salary to the investment fund and 8.33 per cent if the employee has served more than five years (similar to the DIFC DEWS plan).
