Introduction
On 6 December 2018, Jersey introduced International Savings Plans (ISP) to enable businesses to establish savings plans to benefit employees resident outside of Jersey. In particular, ISPs are beneficial for employers with operations in the United Arab Emirates (UAE), and the Middle East more broadly, to meet their severance pay obligations to employees.
Severance Pay in the UAE and the Middle East
UAE Labour Law provides that a “worker who has completed one or more years of continuous service shall be entitled to severance pay at the end of his employment...
