Pension Plan

A pension plan is a retirement savings plan that guarantees employees a fixed income when they retire. Employers are required to provide their workers with a pension plan in the UAE and KSA. In the GCC, it might fluctuate by nation and industry. Employees can save for retirement and receive financial security in their later years through pension plans. Employees can also make voluntary contributions to the pension plan, as can employers. HR professionals play a crucial part in the management of pension plans, making sure they are following the law and have enough money to meet the retirement needs of employees.

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