United Arab Emirates: HAYAH Insurance PJSC unveiled a groundbreaking alternative to DIFC Employee Workplace Savings (DEWS) for companies operating within the Dubai International Financial Centre (DIFC). The enhancement of HAYAH’s flagship Employee Secure Saver is meticulously designed to meet the diverse needs of businesses in the DIFC, regardless of their size or organizational structure, at a lower cost.

Endorsed and approved by the Central Bank of the UAE (CBUAE) and the Securities and Commodities Authority (SCA), the innovative digital pension solution aims to revolutionize the management of retirement funds and End-of-Service Benefits. The platform ensures that every employee can look forward to a secure and comfortable retirement.

Employee Secure Saver distinguishes itself with access to a wide array of investment funds, including an exclusive guaranteed dollar fund and Shariah-compliant options.

This flexibility empowers employees to choose investments that align with their personal and financial goals, significantly ad retirement security and flexibility. Additionally, the plans are cost-efficient compared to DEWS, offering further advantages for employees, 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, further enhancing the financial attractiveness.

Mohamed Seghir, CEO of HAYAH Insurance, expressed the company’s enthusiasm, stating, "We are excited to introduce this transformative solution to the DIFC community. Our platform not only simplifies retirement planning but also offers unprecedented investment opportunities, making it an attractive and cost-effective option for forward-thinking businesses. With the introduction of Corporate Taxes in the UAE, it also includes a certificate of deduction that plays a crucial role in the tax planning for corporations."

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.”

"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. At HAYAH, our goal is to provide businesses with not only a cost-effective solution but also one that enhances the financial well-being of their employees. We believe in empowering our clients with tools that simplify complexity and maximize benefits."

HAYAH is leading the digital transformation in the insurance industry, consistently delivering top-tier services to its clients and their employees. DIFC companies are invited to explore HAYAH’s digital pension solution by visiting our website at http://www.hayah.com/ or contacting us at contact@hayah.com.

This is an opportunity to redefine retirement planning for your employees.

About HAYAH Insurance Company P.J.S.C.

HAYAH Insurance PJSC is a leading insurance provider in the UAE, known for its innovative solutions and commitment to excellence. With a focus on digital transformation, HAYAH Insurance is redefining the insurance experience for businesses and individuals across the region.

For more information, visit www.hayah.com  

For more information, please contact:
HAYAH
David Howard
Head of Strategy and Digital Transformation
Email: david@hayah.com