Dubai, Mar 27 (UNI) Expatriates are likely to be brought under the national pension scheme, according to a UAE government plan which is considering a draft law for the same.
A proposed ''Pension Savings'' draft law which aims to include all expatriates working in the public and private sectors is being studied by the General Authority for Pensions and Social Insurance (GAPSI), the Gulf News said quoting an official in Abu Dhabi.
At present, pensions in the private sector are provided through an end-of-service payment (gratuity) relative to the employee's length of service calculated on the basis of basic salary.
''The law is still being studied and we expect the studies to conclude by the end of April and that will be followed by receiving the necessary initial approvals,'' the official said.
''The proposal covers all expats in the country's public or private sectors,'' he added.
This is the first time any GCC country is considering a pension scheme for expatriates.
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