People in the UAE are making retirement savings plans their financial priority, according to National Bonds.
The UAE’s leading Sharia-compliant savings and investment company has released the results of its annual survey aimed at highlighting savers’ financial aspirations, revealing that retirement planning remains the top financial priority for the second consecutive year.
Increasing savings and setting aside funds for high-value purchases such as a home or a car also ranked high among respondents, highlighting the growing awareness of the importance of early financial planning and disciplined smart saving strategies.
UAE National Bonds saving
According to the survey, 40 per cent of respondents reported being on track to meeting their 2024 financial goals, while 45 per cent stated they had partially achieved their targets.
Confidence levels regarding financial plans for 2025 varied, with 36 per cent expressing complete confidence in reaching their financial aspirations.
Meanwhile, younger generations are demonstrating increasing financial awareness, with 40 per cent of Generation Z and 36 per cent of Millennials expressing confidence in reaching their financial goals, compared to 32 per cent of Generation X.
Findings also show that 42 per cent of males reported being on track to achieving their financial goals compared to 33 per cent of females, women showed a stronger inclination to seek professional financial advice, with 78 per cent open to financial guidance or use financial planning tools compared to 76 per cent of men.
Despite this, both groups prioritised increasing their savings and planning for retirement as key financial goals.
Furthermore, 94 per cent of Emiratis were more inclined to consult financial advisors or use financial planning tools compared to 77 per cent of expatriates.
The survey also sheds light on the key challenges that individuals face in achieving their financial goals, with the rising cost of living and unexpected expenses cited as the primary obstacles.
Rehab Lootah, Group Deputy CEO of National Bonds, said: “The results of this year’s survey reflect a growing commitment among individuals to achieving financial stability, particularly in retirement planning.
“This aligns with National Bonds’ mission to empower the community by offering innovative financial solutions that help customers turn their aspirations into reality, such as ‘Second Salary’ savings plan designed to help UAE nationals and expatriates build a supplementary retirement income, while ‘My One Million’ enable individuals to accelerate their journey toward AED1m ($272.000) in savings and cumulative profits.
“At National Bonds, we remain dedicated to fostering a strong savings culture in the UAE by providing tailored solutions that support individuals at every stage of their financial journey.
“In line with survey findings, we are excited to soon launch a free financial advisory service, ensuring expert guidance is accessible to anyone seeking to strengthen their financial future.”
National Bonds continues to reward savers through its exclusive rewards programme, featuring an annual prize pool of AED36m ($10m).
The programme includes quarterly draws totalling AED8m ($2.2m) awarded to eight lucky UAE national and resident savers, 16 luxury cars, and a range of other exciting incentives designed to encourage consistent saving and financial discipline.
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