A New Era of Employee Savings in DIFC

The DIFC Employee Workplace Savings (DEWS) Plan marks a significant shift in how end-of-service benefits are managed, aligning the DIFC with global standards in retirement and savings plans. This initiative modernises the traditional end-of-service benefit by offering employees a flexible, funded, and professionally managed savings option.

Understanding DEWS

DEWS is a reformed approach to end-of-service benefits within the DIFC, replacing the old model with a forward-thinking, defined contribution scheme. In addition to covering mandatory benefits, DEWS offers a voluntary savings component, empowering employees to save easily for their future.

Following a rigorous selection process, DIFC chose leading industry partners to ensure the highest standards of management and compliance for DEWS. Equiom serves as the master trustee, safeguarding the integrity of the plan. Zurich Middle East handles administration tasks, while Mercer provides expert investment advice, supported by Smart Pension’s technology platform.

Start Your Journey with DEWS

DEWS is more than just a savings plan – it’s a modern, comprehensive solution designed to secure your financial future. Take the opportunity to enroll and start building your financial security today.

DEWS Expansion: Now Available to Government Employees

In a groundbreaking development, the Dubai Government extended the benefits of the DEWS Plan by launching the “Savings Scheme for Employees in the Government of Dubai” in 2022. This initiative now covers foreign employees across 61 Dubai Government entities, using the proven DEWS framework to offer a reliable and robust savings solution.

Key Partners of the DEWS Plan

Equiom: Your Trusted Master Trustee

Equiom is a global leader in wealth protection and business support services. As the DEWS master trustee, Equiom ensures that employer contributions are securely managed, safeguarding employee benefits. Acting as the independent legal owner of these contributions, Equiom prioritizes protecting employees’ interests.
Visit: www.equiomgroup.com/middle-east

Zurich Workplace Solutions: Plan Administrator

Zurich Workplace Solutions manages all administrative aspects of the DEWS Plan, including enrolment, contributions, investments, and withdrawals. Their real-time online portal allows employers and employees to access plan information seamlessly. A DIFC-based support team is also available for assistance.
Learn more: Zurich Workplace Solutions

Mercer: Investment Adviser

With over 40 years of experience and USD 12 trillion in assets under advisement, Mercer offers expert investment advice to ensure the DEWS Plan delivers strong and reliable returns. Mercer’s expertise guarantees a well-managed, stable savings plan for all members.
Explore: Mercer

Why DEWS is the Right Choice

For Employers

DEWS provides employers with a cost-effective and forward-looking solution, offering numerous benefits:

• Budgeting is made easier, as contributions are aligned with current salaries rather than final salaries.
• Employers gain transparency and control over their end-of-service liabilities, with no additional obligations once contributions are made.
• The DEWS Plan enhances an employer’s ability to attract top talent by offering a globally recognized and regulated savings plan.
• Financial predictability is improved by spreading end-of-service liabilities across the entire employment period rather than deferring them until the end.

For Employees

DEWS provides employees with a range of benefits designed to enhance their long-term financial security:

• Employees have access to multiple investment options, including Sharia-compliant choices, tailored to different risk preferences.
• Professional management of contributions offers flexibility and opportunities for significant returns.
• Employees can monitor their benefits transparently and gain a clear understanding of their entitlements.
• DEWS allows for additional voluntary contributions, offering a way to build even greater financial security beyond employer-funded savings.

To get started with your DEWS plan, ensure your authorized signatory is appointed by February 1, 2020. Log in to your DEWS portal to complete the setup process. For any additional assistance, feel free to explore the FAQs or contact the DEWS team at dewsinfo@difc.ae to schedule a meeting.

Enrol Today

To get started with your DEWS plan, ensure your authorized signatory is appointed by February 1, 2020. Log in to your DEWS portal to complete the setup process. For any additional assistance, feel free to explore the FAQs or contact the DEWS team at dewsinfo@difc.ae to schedule a meeting.

“Navigating the DEWS Plan? We are here to help you streamline your transition. Let’s work together to make the most of this opportunity for your business and employees. Contact us for a consultation!”