The DIFC Employee Workplace Savings (DEWS) plan is a mandatory savings scheme launched by the Dubai International Financial Centre (DIFC) to modernize the way employee end-of-service benefits are managed. Replacing the traditional end-of-service gratuity system, DEWS offers a transparent, compliant and secure structure aligned with global best practices in retirement planning.
At BAM Advisors, we provide specialized DEWS compliance and administration services to help DIFC-based employers seamlessly meet their legal obligations while enhancing employee satisfaction and retention.
What is DEWS and Why It Matters for Employers?
Under the DEWS scheme, employers operating within the DIFC are required to:
- Make monthly contributions into a regulated savings plan for each eligible employee.
- Contribution rates are based on the length of service.
- 5.83% of the basic salary for employees with 1 to 5 years of service.
- 8.33% of the basic salary for employees with more than 5 years of service.
- Register with the DEWS platform and enroll all eligible employees.
- Ensure timely and accurate submissions in line with DIFC Employment Law.
Employers also have the option to make voluntary top-up contributions, providing additional value to employees and reinforcing retention strategies.
Our DEWS Compliance Services Include:
- Full registration and onboarding with the DEWS platform, including assistance to register the authorized signatory in the DIFC portal who will sign the deed of participation.
- Assessment of employee eligibility and accurate contribution calculations.
- Preparation and submission of monthly contributions.
- Managing the registration and de-registration of employees on the DEWS portal, including coordination with the authorities to provide essential details such as the last working date, personal address, contact information etc of the resigned employees, ensuring accurate and up-to-date records.
- Contract reviews and HR alignment to ensure DIFC compliance.
- Ongoing support for voluntary contributions and employee communications.
- Coordination with trustees and fund administrators for smooth plan management.
- Audit assistance and regulatory reporting as needed.
With our in-depth understanding of DIFC regulations and employer obligations, we help you navigate the DEWS scheme efficiently and compliantly. Our services help you stay compliant with legal requirements while creating a transparent, forward-thinking employee benefits framework.
