Dubai, June 13: The Dubai government is evaluating plans to give pensions to foreign workers, based on suggestions by World Bank on how to improve employment laws including staff benefits, UAE daily The National reported Sunday.
“We are providing technical assistance in the area of employment policy. It covers the areas of expatriate benefit treatment including pensions,” the paper quoted a senior World Bank official in the region as saying.
“There’s a lot of experience globally on pension schemes including some that pertain to portable pension schemes, which could be applied to expatriate labor,” the official added.
Financial experts say the prospect of offering pensions could help to woo more foreign workers to the emirate as well as encourage them to stay longer in the country.
A possibility of converting the end-of-service gratuity system into pensions is also being considered.
—Agencies