Mandatory funding for End of Service Benefits (“EOSB”) in the Dubai International Financial Centre (“DIFC”) took effect from 1 February 2020, with a deadline of 30 April 2020 for employers to comply with their funding obligations.
The expectation is that other regions will soon follow. Deloitte can provide support to employers in understanding the Regulations and assisting employers to determine and periodically review their approach, including how to communicate the fundamental change from unfunded, defined benefit style EOSB to funded, defined contribution, workplace savings to employees. This page provides access to key documentation on the topic.