The Dubai Economic Department (DED) is currently considering the introduction of a pension fund for the 1.79 million expatriates who live and work in Dubai.
A similar scheme was considered for introduction in 2008 by the General Authority for Pensions and Social Insurance, but failed to come to fruition at that time.
Speaking to the regional media, Ali Ibrahim, Deputy Director of Planning and Development at the DED reported that although discussions on the scheme were in the preliminary stages, a team had been set up to study the possible beneficial effects, and a report would be produced on the outcome of the study.
At this stage it is not known whether contributions to the scheme would be compulsory, or made on a voluntary basis, but it was confirmed by the DED that both employers and employees would be expected to pay into the scheme..
TAGS: expatriates | tax | employees | Dubai
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