UAE National Bonds launches ‘Golden Pension’ scheme for expats working in private sector

UAE National Bonds launches ‘Golden Pension’ scheme for expats working in private sector

Dubai: National Bonds, the UAE savings scheme provider, has launched a pension scheme targeted primarily at expatriate residents working in the private sector. The ‘Golden Pension Scheme’ will allow employees to contribute from Dh100 onwards on a monthly basis. They can take out the saved amounts under their name in addition to the gratuity provided by employers. “The scheme aims to support organizations with their employee retention efforts as well as help them plan ahead for the end-of-service financials,” said National Bonds in a statement. National Bonds will work with employers directly in the managing of the funds. Pension schemes are starting to get greater visibility. This year, DIFC introduced a scheme where employees - cutting across nationalities - working at Dubai Government entities can contribute to its pension options. It could be that the pension schemes could go wider and gradually take the place of the decades’ old gratuity schemes overseen by employers in the UAE. The National Bonds’ ‘scheme which is targeted towards 89 per cent of the UAE’s population that are expats, will help employees of registered corporates get a head start in retirement planning and strengthen their financial resilience through the attractive competitive returns’. Through National