End of Service Benefits
Employee benefits packages, in particular, end of service benefits, are a vital consideration for any employer that wishes to attract the best talent and maintain a loyal workforce.
A vital component of any employee benefits package is the end of service benefits, such as corporate pensions or savings provision.
Companies undertaking specialist activities, (or operating from specific regions such as the Middle East) often recruit a high proportion of their workforce from overseas.
The relocation and training of expatriate employees require considerable investment from the employer, rendering staff retention all the more critical.
Europe Emirates Group has extensive experience in designing corporate pension schemes. Our clients range from SMEs to large global businesses. We can assist with building solutions to interact with End of Service (EoS) gratuity obligations or stand-alone arrangements if preferred. Europe Emirates Group also offers individual portable pension arrangements for internationally mobile employees and senior staff.
Companies operating in the Middle East are often obliged to offer their staff an EoS gratuity payment when they leave the company. The level of gratuity is based on the individual’s salary and length of service and is payable as a lump sum. Where employers fail to invest or plan for their EoS gratuity obligations, it can lead to cash flow problems.