The DIFC Employee Workplace Savings (DEWS) scheme has surpassed $1 billion (AED 3.67 billion) in assets under administration (AuA), marking a major milestone for the region’s pioneering workplace savings initiative.
Launched in February 2020, DEWS replaced the traditional end-of-service gratuity system with a fully funded, professionally managed savings plan emphasizing transparency, sustainability, and long-term employee financial security. Since inception, the scheme has expanded across the DIFC community and now includes employees in 61 Government of Dubai entities.
Growing Participation and Impact
To date, 2,726 employers have enrolled, covering 74,323 employees, who benefit from regulated savings and the opportunity to grow end-of-service benefits through diversified investment options. Payouts to participants have already exceeded $340 million (AED 1.25 billion), reflecting strong trust in the scheme’s governance and regulatory framework.
Abdulla Mohammed Al Basti, Secretary General of the Executive Council of Dubai and Chairman of the Steering Committee of the Savings Fund, said:
“The success of DEWS underscores the Dubai Government’s commitment to providing new investment opportunities and ensuring long-term financial security for employees. This pioneering initiative supports the Dubai Economic Agenda (D33) and positions the emirate as a global leader in sustainable growth.”
DIFC Leadership Highlights Strategic Significance
Essa Kazim, Governor of DIFC, added:
“Reaching over $1 billion in AuA in just over five years is a remarkable achievement. DEWS has safeguarded the financial futures of nearly 75,000 employees and strengthened Dubai’s ability to attract and retain top global talent.”
Arif Amiri, CEO of DIFC Authority, noted:
“Surpassing $1 billion reflects the confidence of both employers and employees. DEWS exemplifies DIFC’s role as a catalyst for innovative, progressive initiatives that create long-term value, enhance Dubai’s reputation as a business-friendly hub, and support the emirate’s D33 economic vision.”
World-Class Consortium Supports DEWS
The scheme’s success is underpinned by a consortium of international partners:
- Equiom – master trustee providing independent oversight to safeguard members’ interests
- Zurich Workplace Solutions (Middle East) – plan administrator ensuring seamless operations
- Mercer – investment advisor managing professionally diversified funds
This collaboration has positioned DEWS as a benchmark for workplace savings in the Middle East, advancing financial literacy, employee well-being, and sustainable finance practices.
Setting the Standard for Inclusive Financial Systems
DEWS combines regulatory strength, transparency, and innovation, empowering employees with financial security while enabling employers to adopt international best practices. Surpassing the $1 billion milestone reinforces Dubai’s leadership in modern, inclusive financial systems and strengthens its competitiveness as a global financial hub.
