Emirates Group Provident scheme authorized by IPA
The Isle of Man Insurance and Pensions Authority (IPA) has confirmed authorization of a provident fund structure established for Dubai-based Emirates Group, including Emirates Airline. This scheme is a substantial structure set up to fund end of service benefits for over 2,000 United Arab Emirates (UAE) based employees of the Emirates Group.
IPA recently announced that it has approved over thirty applications in respect of schemes seeking authorization under its new international retirement benefits schemes legislation. Schemes receiving IPA authorization have so far comprised of arrangements established for big international companies with global employees, as well as personal schemes for internationally mobile company executives.
Emirates flies to more than 66 destinations in 46 countries in Europe, the Middle East, the Far East, Africa, Asia and Australia. — (menareport.com)
© 2003 Mena Report (www.menareport.com)