Who Is Eligible For The New UAE End-Of-Service Scheme?

Earlier this year, a new UAE end-of-service scheme was announced for those working in the UAE. The scheme is now live with the news being shared on X by the Ministry of Human Resources & Emiratisation.

The organisation shared: “We are pleased to announce today that the Voluntary Alternative End-of-Service Benefits Scheme (Savings Scheme) for the private sector has come into force, in collaboration with the Securities and Commodities Authority (SCA).

“The Scheme boosts ease of doing business and enhances UAE’s attractiveness to talents and expertise, as it offers investment returns on employees’ end-of-service gratuity by investing it in investment funds approved by MoHRE and SCA. HE Dr. Abdulrahman Al Awar, Minister of Human Resources and Emiratisarion addressed the media alongside HE Ayyoob Al Marzooqi, Acting Assistant Undersecretary for Policy and Strategy Affairs, Khalid Mahmoud, Director of Legal Affairs at SCA, and Saeed Mustafa, a Financial Analysis at SCA.”

We are pleased to announce today that the Voluntary Alternative End-of-Service Benefits Scheme (Savings Scheme) for the private sector has come into force, in collaboration with the Securities and Commodities Authority (SCA).

The Scheme boosts ease of doing business and enhances… pic.twitter.com/7MhBjazJk3

— وزارة الموارد البشرية والتوطين (@MOHRE_UAE) November 1, 2023

Do you know who is eligible? The scheme is open to employees across the public sector, private sector and all free zones.

As for what it is, gratuity is a sum paid to you at the end of your work relationship based on your last basic salary. You become eligible for this after spending one year or more in your job, and you can work out how much you’re owed with the UAE end-of-service gratuity calculator.

The new scheme offers more flexibility, giving you three investment options. One will be a risk-free investment that maintains capital, the second will be a risk-based investment and the third will be a Sharia-compliant investment.