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Survey Shows Support For Workplace Savings Reforms; 71% Of DIFC Employees Confident Of Getting Gratuity

Mount Equity Group Tokyo, Japan > News > Markets > Survey Shows Support For Workplace Savings Reforms; 71% Of DIFC Employees Confident Of Getting Gratuity

KEY FINDINGS

– 71% of 1,000 respondents to a landmark survey have said they now have a high level of confidence about receiving their gratuity payment when leaving their current employer (in the DIFC)

– In the rest of the UAE, without the benefit of the DIFC’s reformed workplace savings scheme, awareness and confidence drops to 40%

– Nearly half of expatriate employees either have no means of maintaining a decent standard of living in retirement, or plan to work beyond retirement age to derive sufficient income

LONDON and DUBAI, June 8, 2021 /PRNewswire/ — According to a survey on end-of-services benefits (EoSB) in the UAE commissioned by Zurich, Equiom and Mercer to Insight Discovery to gauge the perceptions of the Dubai International Financial Centre (DIFC) Employee Workplace Savings (DEWS) scheme, 71% of DIFC employees are highly confident of receiving their gratuity payment when leaving their current employer.

The confidence in the DEWS scheme is particularly notable when comparing the responses of employees in the DIFC with the responses of employees across the rest of the UAE, where only 40% of UAE respondents outside the DIFC said they were aware of how their gratuity works and what it means for them. Two-thirds were also confident that they