64% of the UAE population doesn't have any form of pension at all
64% of the UAE population doesn't have any form of pension at all.
This is according to gulfnews.com and this is not normal.
According to HSBC Expat Explorer survey average salary for expats in Dubai is $138,177 (Dh507,110) per annum.
Not all UAE residents will earn that salary, but we are in a tax-free country. This makes the disposable income that people have one of the highest in the world.
No pension will be given by the UAE government. If you are thinking of depending on your family at retirement that is not noble and you will be a financial burden on them. The later you start with your retirement the bigger the pension gap will be.
This dream will end bad for the dreamers that are not taking care of their future.
The UAE residents that are having a pension in place are ignoring the crowd, because this is not the trend. I hope that they will continue doing this, because they will have the lifestyle that they want at retirement and be financially independent.
What is your experience with pension planning?
Posted on Wed, May 16, 2018
by Simon Snelder filed under