The retirement age for both men and women within the private sector in the UAE is 60 years, which is considered normal on a global level, according to the Worldwide Benefit and Employment Guidelines, which was released today (Monday, May 12) by HR consultancy firm, Mercer.
However, the report adds that many expat employees in the UAE do not have the same retirement age rights as they would in their home countries. Currently, Saudi Arabia does not have a rule on the retirement age for expats living in the kingdom, but there is a proposal in review that will officially make 60 years as the retirement age, if approved. Women employees in the UAE public sector, meanwhile, are permitted to retire at 55 years, which is five years earlier than their counterparts in the private sector.
According to the report, other countries that allow women to retire earlier include Saudi Arabia, Jordan, Russia, Taiwan and Vietnam. In countries, such as the UK, Argentina, Austria, Chile, Serbia and Poland, the same is applicable; however, the overall retirement age differs between 65 years for men and 60 years for women. Employees in Indonesia and Thailand are permitted to retire at the age of 55 years, while, in India, it ranges between 55 years and 58 years.
Mazen Abukhater, principal at Mercer, says: “This report is significant because, whether multinationals operate in two countries or in more than 20, they are facing increasingly complex and distinct rules and regulations and common practices relating to retirement that can have a substantial impact on their operations.” The Worldwide Benefit and Employment report also reveals that only two participating countries in the study, Pakistan and Morocco, permits earlier retirement in the mining sector. The general retirement age in Pakistan is 60 years for men and 55 years for women, but those employed in the mining industry can retire five years earlier. The same is applicable for Morocco, although employees must complete five years of service to be eligible.
Tuesday, May 13- 2014 @ 11:03 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.