Tuesday, May 14, 2013
Dubai: National Bonds has reported a 142 per cent increase in the total Employee Savings Plan (ESP) contributions from all participating companies in the UAE over the last year.
As of last count, there are more than 1,000 employees covered by the programme. National Bonds seeks to expand the coverage this year by enlisting at least 30 more organisations.
Last January, the company signed a memorandum of understanding with the Government of Dubai to enrol 43 government organisations into the scheme under the initiative called “My Savings”.
“The ESP is certainly the best way to ensure a secure future, especially for expatriate professionals. Going a step beyond pension plans, ESP offers the benefit of National Bonds’ awards programme, which includes the opportunity to win [Dh 1 million] every month, as well as BMW cars, gold and school tuition fees for minors every week [among others],” Mohammad Qasim Al Ali, CEO of National Bonds said.
“However, the sufficiency of savings depends on more than one factor - the individual’s goals, their targeted timeline, amount saved every month and their needs in relation to this amount.
The list of UAE companies enrolled in the ESP includes Du Telecom, Dubai Airports, Dubai Duty Free, Dubai Financial Market, Giordano Fashions, Dubai World Central, Shuaa Capital and Transguard Group, among others.
By Cleofe Maceda Senior Reporter
Gulf News 2013. All rights reserved.
