UAE-based insurance provider Hayah Insurance PJSC has added to the structure of its Employee Secure Saver to produce a new offering as its alternative to the DIFC Employee Workplace Savings (DEWS) for companies operating within the Dubai International Financial Centre (DIFC).
The enhancement of Hayah’s Employee Secure Saver has been endorsed and approved by the Central Bank of the UAE (CBUAE) and the Securities and Commodities Authority (SCA).
The scheme gives access to an array of investment funds, including an exclusive guaranteed dollar fund and Shariah-compliant options which gives employees to choose investments that align with their personal and financial goals.
Cost-Efficient
Hayah said that the plans are “cost-efficient compared to DEWS” and can also be complemented by the addition of biometric covers (death and disability) to provide supplementary protection companies can benefit from deductions for corporate taxes.
Hayah’s digital pension solution is tailored to enhance HR operations through real-time tracking, transparent reporting, and personalized insights while reducing operational costs. This modern approach to administering pension plans and End-of-Service Benefits improves efficiency while strictly adhering to regulatory standards.
“We enhanced Employee Secure Saver for companies in the DIFC that approached Hayah for an alternative to the DEWS scheme, which didn’t always meet their needs in terms of investment options, funds’ performance, flexibility, speed, or ease of administration. Additionally, cost was a common reason for seeking an alternative.”
Security
“The confidence placed in us by various regulatory bodies is a testament to our commitment to innovation and security,” added Adil Saghir, Head of Pensions and End-of-Service Benefits at Hayah Insurance. “We are confident that our digital pension platform will set a new benchmark for retirement planning in the DIFC and beyond, in other free zones, mainland or abroad.
