The Ministry of Human Resources and Emiratisation (MoHRE) revealed that approximately 5.73 million employees have subscribed to the Unemployment Insurance Scheme since it went into effect on January 1, 2023, up until September 25 Including more than 5.6 million subscribers in the private sector and more than 87 thousand subscribers in the federal government sector.
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DEADLINE:
The Ministry made the announcement as the deadline for subscribing in the system approaches, where starting from October 1, 2023, a Dh400 penalty will be applied to those eligible for the system who have not subscribed.
This includes citizens and residents working in the private and federal government sector, excluding investors (business owners who own and manage their business themselves), domestic workers, temporary employees, minors under the age of 18, and retirees who receive pension and have joined a new employer.
The MoHRE issued a press statement urging those eligible for the system to register immediately in order to avoid fines and benefit from the advantages it offers.
The system aims to provide a social safety net for citizens and residents, ensuring a decent life for them and their families until alternative employment opportunities arise. It also aims to attract and retain top global talent to the UAE labour market.
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HOW TO SUBSCRIBE:
Subscription can be completed by visiting the Involuntary Loss of Employment (ILOE) Insurance Pool website (www.iloe.ae), the ILOE smartphone application, designated physical kiosks, business service centres, exchange companies (such as Al Ansari Exchange), and banks’ smartphone applications.
The Unemployment Insurance Scheme is divided into two categories: the first covering those with a basic salary of Dh16,000 and under, where the insurance premium for the insured employee in this category is set at AED5 per month (AED60 annually), and the maximum monthly compensation is set at Dh10,000.
The compensation is calculated at the rate of 60 per cent of the average basic salary in the last six months before unemployment, and paid for a maximum of three months for each claim from the date of unemployment, provided the employee in question was not terminated for disciplinary reasons, and has not voluntarily resigned.
Source: various
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