DIFC has launched a public consultation on proposed amendments related to the Employee Workplace Savings plan.
The Dubai International Financial Centre has announced it has launched a public consultation on proposed amendments to the 2019 Employment Law. The consultation ends on 18 November 2019. The proposed amendments relate to the Employee Workplace Savings plan. If approved, all employers based in the Centre will have to pay mandatory contributions into the scheme or into an alternative qualifying scheme. The requirements for these alternative qualifying schemes will require employers to make mandatory contributions towards employees’ end-of-service benefits and which will allow Centre employees to add their own savings as voluntary contributions. The Centre has also launched a consultation on proposed Employment Regulations which state the mandatory requirements for a qualifying scheme.