3 categories that can subscribe to the alternative savings system for end -of -service bonus

The Ministry of Human Resources and Emiratisation explained that participating in the alternative savings system for the end -of -service gratuity is optional for employers and a mandatory for employment in the event that the employer chose to register in the system, while the worker is not entitled to register in the savings system unless it is registered by the employer.

The ministry confirmed, “in the new issue of the Labor Market Magazine,” that the alternative optional savings system for the end of service reward provides the optional participation of additional categories according to its desire with the aim of benefiting from the benefits it provides, where independent business owners and those with a free work permit, and non -citizen employees working in government agencies, institutions, establishments and their affiliated companies, in addition to citizens working in the governmental and private sectors, can register in the system Savings »according to the additional optional contribution only, and thus preserving and investing their savings and developing them safely, and restoring them in the form of end -of -service gratuity, with the commitment and commitment of employers to pay subscriptions to citizens in the systems and social insurance systems and bodies, according to the legislation in force in the state.

The alternative optional savings system for the end -of -service bonus provides workers in the private sector several advantages for companies that share this system, through which the amounts allocated to the end of service reward are invested in leading and accredited investment funds, so that employee savings develop to benefit from investment returns, and also contributes to increasing the attractiveness of the labor market for international talents and experiences, enhancing the local economy and establishing local assets and reviving movement Investments.