- The pension scheme from National Bonds gains momentum with overwhelming interest from corporates in just four months since launch
- National Bonds onboards UAE-headquartered Biz Group to the pension scheme, enabling the company to plan end-of-service financials and aid employees with retirement planning
Dubai, UAE, 22 February 2023: National Bonds, the leading Shari’a-compliant savings and investment company in the UAE, has announced a strategic partnership with Biz Group, a leading provider of corporate coaching solutions in Dubai and the Middle East, to offer its innovative Golden Pension Plan to Biz Group’s employees. The partnership follows a growing interest in National Bonds’ pension scheme from UAE corporates and SMEs aiming to build the financial resilience of its employees.
Golden Pension Plan is a corporate investment program that helps companies plan for gratuities, while also incentivizing employees to save towards their retirement. Launched in October 2022 with the aim to support retirement planning for the UAE’s expat population, the program is a welcome step forward in providing increased financial support for businesses and thereby, contribute to the strengthening of the UAE’s economy.
By investing in National Bonds’ Golden Pension Plan, Biz Group has been empowered to safeguard employees with end-of-service financials and allow them to access a range of benefits the program offers. Some of these benefits include the potential for higher returns on their pension, more flexibility with their savings, Life Takaful cover, and entry into National Bonds’ signature AED 35 million Rewards Program. The Golden Pension Plan is the only pension scheme of its kind that offers attractive rewards in the form of cash prizes, cars, and much more, to employees enrolled in the program.
This marks an important corporate partnership for the Golden Pension Plan in just four months since its launch, as National Bonds welcomes huge interest from businesses and employees alike. More than 10,000 employees have been enrolled in the program currently.
Rehab Lootah, Deputy Group CEO of National Bonds, said: "Our partnership with Biz Group reflects National Bonds' unwavering commitment to offering innovative solutions that empower UAE corporates and residents to achieve their financial goals. SMEs make up a substantial percentage of the total businesses in the UAE and are vital to the growth of the economy. We are proud to provide them stronger financial security through our Golden Pension Plan, a solution that transcends traditional workplace benefits and provides a more secure and flexible retirement planning option for employees.”
Hazel Jackson, CEO at Biz Group, commented, “We are very excited to be participating in the pension plan from National Bonds. It fulfills two long-standing ambitions of the company, which is to help build a savings mindset amongst Biz Group employees, as well as to safeguard and grow their gratuity contributions. There is the great benefit of retention as well, which many companies currently struggle with. The service and support from National Bonds has been nothing short of exceptional. We would highly recommend corporates and SMEs to join the program in order to safeguard theirs and their employees’ financial futures.”
Adding to the success of the partnership, Dave Howcroft, Finance Director at Biz Group, said, “This opportunity gives Biz Group the ability to offer our employees access to some truly unique and innovative products and attractive rewards that will help them grow their savings as well as create a more structured longer-term mindset with regards to financial planning.’’
With National Bonds’ pension plan, Biz Group’s employees will have the flexibility to contribute additional savings to their pensions, with as little as AED 100 per month, and earn profits on the amount saved. This is in addition to the earned gratuity provided to them already. The scheme is not a replacement for gratuity, rather it can be considered an enhancement to the gratuity being offered by corporates.
Biz Group’s employees will have access to the program via National Bonds’ easy-to-use mobile application, where they can have visibility into their growing pension portfolio in real time, as well as add to it with additional savings.
As an SME highly committed to employee welfare, the Dubai-headquartered Biz Group was founded in 1993 and has since been working to enrich lives by providing corporate coaching and training to their clients in the Middle East. The dedicated team has transformed hundreds of leading companies through training to help people overcome business challenges and transform their organizations.
National Bonds’ unwavering innovative approach to building a healthy savings culture in the UAE by offering workplace retirement savings plans such as Golden Pension Plan will contribute to making employees across the nation feel more financially secure. The Golden Pension Plan has been instrumental in increasing financial resilience and reducing stress for people across the nation, ultimately boosting productivity and wellbeing in the workplace.
A solid workplace retirement plan also creates value for employers. In a competitive job market, it provides a distinct advantage, enabling employers to attract and retain top talent, and positioning them as responsible and caring corporate citizens invested in the financial wellbeing of their staff.
For more information about the Golden Pension Plan, visit: https://bit.ly/3XseXf8
