Urgent.. An alternative system for end-of-service rewards in the emirates

An alternative system for end-of-service rewards in the emirates, His Majesty Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, stated on his Highness's account on the social networking site "X," formerly "Twitter," that he led a meeting of the Council of Ministers today at Qasr al-Watan in Abu Dhabi. We confirmed the continuity of the UAE's plan at the outset.

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It is ambitious for the space technology sector... and continues to qualify and send more astronauts to the International Space Station... and welcomes the return of the Emirates' son, Sultan Al Neyadi, the first Arab astronaut on a long mission to the International Space Station on Earth, after participating in many scientific experiments on board the vehicle, with support and organization. The Mohammed bin Rashid Space Centre is in charge of an integrated programmer for Emirati astronauts and future space missions.

His Highness went on to say, "Sultan Al Neyadi is a model and role model for millions of young people in the UAE and our Arab region to reach the highest ranks in the world... and our scientific future in the field of space will be greater and better, God willing."

"During today's cabinet session, we adopted an alternative system for end-of-service benefits for workers in the private sector and free zones in the country," His Highness said. Employers will be able to opt out of the scheme. The system includes the establishment of private-sector savings and investment funds supervised by the Securities and Commodities Authority in collaboration with the Ministry of Human Resources and Emiratisation, which saves and invests end-of-service benefits for workers and employees using various investment options.The goal is to protect workers' savings that mark the end of their services in operational enterprises and ensure that they are invested safely to protect their rights and achieve family stability...The system also permits government personnel to participate for the purpose of saving and investing.

His Majesty We also decided today to approve the issuance of a federal law to regulate the weights of heavy vehicles that use the country's roads... which will be implemented, God willing, at the beginning of next year... as it will be prohibited... Heavy vehicles with a maximum gross weight more than 65 tonnes are permitted to utilise the country's roads in order to preserve our modern infrastructure and increase road safety.

"We also decided today in the Cabinet meeting to establish the Office of the Federal Regulator for the Water and Electricity Sector... with the aim of regulating electricity and water trade within the country and across borders... in addition to regulating the production, transmission, and distribution of electricity and water in the country," His Highness continued. The new office will report to the Ministry of Energy and Infrastructure.

alternative system for end of service benefits in the emirates
Mohamed Ben Rached

alternative system for end of service benefits in the emirates

"Today, during the Cabinet session, we also approved a new system for rewards and incentives in the federal government," His Highness said. The financial and in-kind prizes and incentives are divided into three categories: "outstanding annual performance," "exceptional achievements at the entity level," and "national achievements that the employee may achieve for the state." The goal is to provide the flexibility of compensation systems in order to boost the competitiveness and achievement of our federal government cadres."

His Highness concluded, "In continuation of our comprehensive development of our federal legislative system, we decided today within the Council of Ministers to begin issuing 11 new federal laws, such as the new law for commerce via technology means E-commerce, the new law regulating the media, the law for assisted reproduction, and the law regulating the sector." Space...as well as the legislation on the use of the human genome and other societal, economic, health, and technology laws that, God willing, provide the best legal environment in the UAE and improve social stability, economic progress, and the quality of life for all."

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