I can’t say that I’ve been thinking much about what a worker in the UAE gets for the future

I have to say I am not much more  aware having  having listened to Mohammed who is now  12 months into workplace saving

After 30 minutes we get to the huge challenge that Britain has to get engagement in workplace pensions. Darren is brilliant in explaining why the hopes we had ten years ago haven’t worked out. He points out the power of default into the lowest common denominator has beset ordinary people.

The idea in the UAE has for replacing a gratuity that is paid to ex-patriots as a defined contributions. People who stay in the UAE from the UK and elsewhere for ten years of more the money can become a retirement fund. There is a pot but nothing else and the idea of having a domestic retirement scheme can encourage workers to stay in UAE.

I’m not sure why people want to stay in UAE but it looks like being very much a financial argument for single individuals , couples, maybe even futures.

The question being asked by Nico of Mohammed is about pension schemes. Right now the UAE is starting out where the UK  has been with DC pensions in the UK , which is leading to wealth management or cashing out the pot for cash in the bank.

The conversation moves on to Guided Retirement Pathway/Guidance. Nico points out that pots will be used for  something like a pension. But nothing of this kind of thinking is happening in the UAE.

I have to say Nico is good at explaining where the UK is and Mohammed is not surprised to find the UAE less advanced.

What the UAE ex-patriot needs , Mohammed says is good advice and I have to say, the financial advisers I’ve come across working in the UAE have been untrustworthy. The UAE has given a home to UK’s crooked advisers who could not have a place with the FCA.