Perspectives

End of Service Gratuities in the DIFC Roadmap

Now that the deadline for establishing and funding a DIFC compliant workplace savings plan has passed, what comes next? Have you completed a temperature check of employee engagement following the move from unfunded, defined benefit style End of Service Gratuities to funded, defined contribution, workplace savings? In particular, have employees understood the implications in terms of the shift of investment risk from employer to employee? What are your priorities given that the window to establish and fund a Qualifying Alternative Scheme will open shortly?

This roadmap highlights the key considerations for employers operating in the Dubai International Financial Centre, in particular post implementation due diligence and operational considerations, to help you assess what your next steps should be.

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