End of Service Gratuity and Workplace Savings Solutions

Your questions answered

What is Go Saver?

The Go Saver Employee Money Purchase Scheme (EMPS) – “Go Saver” – is a savings scheme which employers can use to transfer 100% of the employees’ End of Service Gratuity (“EOSG”) to a Trust. This allows employers to not only remove the liability attached to EOSG from their balance sheets but also comply with Dubai International Financial Centre (DIFC) regulations using this product.

Leveraging its framework matching with global best practices, Go Saver is also offered to International Pension Plans.

Who provides recurrent oversight and governance to the plan?

Go Saver carries several levels of oversight and governance.

All parties to Go Saver – CSC Trustee Services (Middle East) Limited, the Operator of Go Saver, Sukoon Workplace Savings Solutions Limited (“SWSS”), the Administrator of Go Saver and Franklin Templeton, the investment manager of Go Saver – are regulated by the Dubai Financial Services Authority (“DFSA”). The Operator is fully responsibility for Go Saver, ensuring that it operates in accordance with the provisions of Go Saver Trust Deed, Scheme Rules, and all applicable laws and regulations.

Above the Operator lies the Supervisory Body which provides oversight for Go Saver’s governance and commercial aspects that are not subject to regulatory supervision. It is comprised of a panel of experts with a wealth of experience in trusts, relevant employment laws, and investments.

What is the role of the Operator, Administrator, and Investment Advisor of Go Saver?

The Operator is the trustee of Go Saver and legally owns assets for the benefit of the scheme members. They are required to act in the best interest of the members within the rules governing Go Saver and all applicable laws. The Operator has selected Sukoon Workplace Savings Solution (SWSS) as the Administrator of Go Saver. Rest assured – all appointed providers are experienced in their roles and regulated to ensure best practices.

SWSS, as the appointed Administrator, performs day-to-day activities related to Go Saver like facilitating transactions (that is, receiving payments and paying benefits) between members and the Trust, making investments, maintaining records, and providing reports.

Franklin Templeton, serving as Investment Manager of Go Saver, provides and manage the risk-based portfolios offered to members.

The Investment Advisor is in charge of reviewing and providing advice to the Operator on all investment options offered under Go Saver and monitoring their performance, in the best interest of members.

Who are Go Saver's providers?

CSC Trustee Services (Middle East) Limited – regulated by the DFSA and located and registered at Unit 07, Unit 06, Level 13, Currency Tower 2, Dubai International Financial Centre, Dubai, UAE – is the Operator and Trustee of Go Saver, responsible for Go Saver and its compliance with applicable regulations at DIFC. They also ensure that interest of all employees registered for Go Saver are protected. You can reach out to them via email at dubai_emps@intertrustgroup.com.

CSC is the trustee and corporate administration services provider to a global client base. Its Executive Compensation Services team, which supports Go Saver, is a market leader of global employee benefit services.

Sukoon Workplace Savings Solutions Limited – regulated by the DFSA and located and registered at 407, Gate District 3, DIFC – is Go Saver’s Administrator, responsible for all operational and functional activities related to Go Saver. It is a fully owned subsidiary of Sukoon Insurance PJSC, UAE’s leading insurer. They can be contacted via email at contact@sukoonworkplacesavings.com.

Franklin Templeton – regulated by the DFSA and located and registered at Level 2, East Wing, The Gate, DIFC – is the appointed Investment Manager under Go Saver, provides risk-based portfolios designed to cater to diverse risk appetites of members.