National Bonds launched a new initiative, on Tuesday, the Golden Pension Plan. The plan is designed to accommodate companies with a large employee base and provide companies with a customisable solution with flexibility on the type of financial care to be arranged for the employees, according to the announcement.
National Bonds is owned by the Investment Corporation of Dubai of which Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum is the Chairman.
Companies will be able to contribute a lump sum amount or monthly deposits, from or on behalf of the employee. The end-of-service amount will be put in the Golden Pension Plan scheme as per the agreed terms and features, prizes and rewards are also a part of the plan for customers.
The company benefits include an attractive structure for end-of-service benefit placements, a unique employee retention tool, increased employee morale, monthly and lump sum deposit options and competitive profit rates on employee contributions.
The benefits for employees include affordable monthly contribution rates, competitive profit rates, visibility on end-of-service benefit amounts, profit returns and winnings, entry into National Bonds rewards programmes, transparency on profit calculation and holdings.
The UAE, on Tuesday, launched the unemployment insurance scheme for government and private sector employees. The compensation will be paid on a monthly basis, calculated on 60 percent of the employee’s basic salary and subject to a maximum of AED20,000 per month, for a period of three months from the date of unemployment.
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