DIFC’s DEWS Scheme Hits $1bn, Transforming Employee Savings

Dubai International Financial Centre (DIFC) has reached a major milestone as its innovative employee savings initiative, the DIFC Employee Workplace Savings (DEWS) scheme, surpasses USD 1 billion in Assets under Administration (AuA). Launched in February 2020, DEWS was the first program of its kind in the Middle East, offering a modern alternative to the traditional end-of-service gratuity system.

By replacing conventional gratuities with a fully funded, professionally managed savings plan, DEWS emphasizes transparency, long-term financial security, and sustainability for employees. The scheme allows participants to grow their savings through diverse investment options while enabling employers to adopt international best practices in workforce benefits.

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Rapid Adoption Across Dubai

Since its launch, DEWS has attracted widespread participation across the DIFC community and has expanded to cover expatriates in 61 Government of Dubai entities. To date, 2,726 employers have enrolled, and over 74,000 individuals are registered, benefiting from regulated savings with the flexibility to manage and invest their end-of-service funds.

The scheme has already facilitated payouts exceeding USD 340 million, reflecting both the trust of participants and the robust governance standards underpinning DIFC. The rapid growth to more than USD 1 billion in AuA underscores the region’s readiness to embrace modern, secure, and professionally managed workplace savings systems.

Structured for Success

DEWS operates through strategic partnerships: Equiom serves as the master trustee ensuring independent oversight, Zurich Workplace Solutions (Middle East) manages the plan’s operations, and Mercer handles the underlying investment funds. This structure guarantees professional administration and diversified investment opportunities, safeguarding employee interests while delivering growth potential.

Setting a Regional Benchmark

By providing financial security, flexibility, and transparency, DEWS is setting a benchmark for workplace savings in the Middle East. The initiative not only secures the future of Dubai’s workforce but also strengthens the city’s position as a forward-thinking global financial hub, attracting international talent and supporting sustainable economic growth.