Dubai Transport Corp.’s 9,000 drivers come under Golden Pension scheme from National Bonds

Dubai Transport Corp.’s 9,000 drivers come under Golden Pension scheme from National Bonds

Dubai: Over 9,000 drivers with Dubai Taxi Corporation (DTC) have signed up to the Golden Pension scheme from National Bonds, whereby they can start with monthly contributions from Dh100. The employees can earn a profit on the amount saved, which can be availed in addition to the gratuity provided by DTC. The scheme supports ‘organizations with their employee retention efforts as well as help them plan ahead for the end-of-service financials’. DTC thus becomes the first entity to join the ‘Golden Retirement Program’. The National Bonds’ initiative represents a major push into creating a wide and vibrant pension system in the UAE. Launched last year, it creates a platform for expat and UAE National employees to set aside periodic savings for their future. Over and above what they would get as gratuity. They will also be part of the National Bonds’ rewards program of Dh35 million and eligible for a life takaful cover provided by local takaful Operators. Mohammed Qasim Al Ali, National Bonds Group CEO, said: "Retirement planning is vitally crucial to ensure the stability and financial independence of individuals. The UAE now has a population of around 9 million people. We hope to enable residents to invest in