Industrialists Career Exhibition marks its third edition since launching in October 2023
jobs3 weeks ago
An employee subscribed to the unemployment insurance scheme must be present in the UAE to claim its benefits in the event of job loss, a top official has told Khaleej Times. Under the scheme, employees will receive a cash benefit (60 per cent of the basic salary) for up to three months if they lose their jobs.
“As long as you have lost your job after 12 months of subscription to the scheme and you are staying in the country, whether as a visitor or (as per terms of the) employment contract, you will be entitled to … compensation paid on a monthly basis,” Abdellatif Abuqurah, CEO, Dubai Insurance Company, said in an exclusive interview.
“The three months’ amount is not all paid at once. The payment is made at the end of each month as long as the employee is still in the country and has not got another job,” he added.
Abuqurah was responding to a question about how employees can claim the benefits of the scheme. Depending on their job category, expats typically get a grace period of one to six months to exit the country if they lose their employment and their visas are cancelled.
Other conditions to claim benefits of the scheme include payment of all premiums on time, and the reason for unemployment should not be disciplinary-related.
When asked what happens when employees avail of benefits for three months, Abuqurah explained: “Like the rest of insurance policies, it lapses. And if the employee finds another job, then he or she has to buy a new policy from the insurance pool.”
The employee has to be subscribed for 12 months to claim benefits in the event of another job loss.
As per the law, the aggregate claim payment shall not exceed 12 monthly benefits regardless of the number of claims submitted during the entire work life of the insured.
Dubai Insurance Company is the representative of the insurance pool that includes nine companies to offer the Involuntary Loss of Employment (ILOE) scheme.
Subscription to one of the two schemes is mandatory for employees, with monthly premiums ranging between Dh5 and Dh10. Those who don’t sign up for a plan before June 30 could be fined Dh400. Subscriptions started on January 1, 2023, for Emiratis and expats employed in federal government departments and private sector companies.
When asked why the scheme was made mandatory, Abuqurah said that just like motor or health insurance, “it makes sense” for a large number of people to be protected.
“The scheme will make available a decent of money for employees who lose their jobs for an ultra-low premium. It makes sense for the coverage to be mandatory for the 6 million people in the UAE job market.”
ALSO READ:
Industrialists Career Exhibition marks its third edition since launching in October 2023
jobs3 weeks ago
What if there were clashes or concerns before the 'boomerang employee' left the firm? How can the workplace avoid a repeat of past drama?
jobs3 weeks ago
There are currently around 631,000 people associated with aviation-related jobs, equivalent to one in five jobs in Dubai
jobs4 weeks ago
This increase in hiring is a positive shift after a dip in September which saw the ‘mildest rise’ in overall employment since late 2022
jobs4 weeks ago
It’s crucial to remember that not everyone wears their party hat the same way — some won't even want to celebrate for personal reasons
jobs1 month ago
Let's face it: By revealing that you are earning less than the market average, you risk getting a lower pay package, but if you inflate your salary, there could be serious repercussions — so what should you do?
jobs1 month ago
Candidates will be sent to Spain for a practical flying experience and then undergo simulator training back in Abu Dhabi
jobs1 month ago
This is happening across all age categories, whether it’s Gen X, Millennials or Gen Z, according to experts
jobs1 month ago