Regulatory Credentials and Trustworthiness: The first and foremost factor in selecting a pension provider in the UAE’s new landscape is their regulatory status and track record. Employers should look for providers who are licensed by the Securities and Commodities Authority (SCA) to manage pension funds, and preferably those with a history in the region. A provider like HAYAH Insurance, which is not only SCA-licensed but was the pioneer of the UAE’s first approved pension plan
Stands out in this regard. Being listed on the Abu Dhabi Stock Exchange and regulated by the UAE Central Bank adds layers of oversight and trust
This matters because you are entrusting employee money to this institution; you want them to be financially solid, well-governed, and here for the long haul. HAYAH’s deep roots (formerly part of a global insurance brand and now a homegrown leader) and its service to hundreds of companies
Indicate stability and reliability.
When evaluating providers, ask: Are they approved by government authorities to handle this scheme? Do they have a trust or custody arrangement for holding the funds (to ensure separation from their own assets)? In HAYAH’s case, the answer is yes – they operate within the legal framework and likely use reputable custodians for the invested assets.
Expertise and Experience in Employee Benefits: Not all financial institutions have experience with group pension administration. The ideal provider has a track record in managing group schemes, life insurance, and savings plans. HAYAH’s portfolio of serving 350+ companies and 300,000 employees
with life, medical, and savings solutions gives it a nuanced understanding of employer-employee dynamics and benefit structures. This domain experience translates to better advice and smoother implementation. They would know, for instance, how to integrate the pension benefit with other HR processes, or how to align insurance coverage periods with pension enrollment.
Digital Capabilities and User Experience: As discussed in the previous article, the provider’s technology platform is critical. Employers should assess the provider’s online portal for HR and employees: Is it intuitive? Does it provide real-time data? Can it easily onboard employees and handle changes? HAYAH’s digital platform, Your Employee Saver, is a market-leading example, offering a fully online experience for contributions, tracking, and even financial education
A strong digital system reduces administrative effort on the employer’s side (less paperwork, fewer errors) and improves employee engagement. Request a demo from providers – see how an employee would enroll, how they would pick funds, and what kind of statements they get. HAYAH would shine in such a demo, showing features like mobile access, instant fund switches, and interactive tools.
Investment Offering and Performance: The whole point of a funded scheme is to invest contributions for growth. Therefore, evaluate what investment choices the provider offers and who manages those funds. Key factors: range of funds (global equity, local equity, fixed income, sharia-compliant, etc.), the performance history of those funds, fees associated, and whether the provider offers any capital guarantee options for risk-averse employees. HAYAH, via its partnership with Azimut and other asset managers, offers a diversified portfolio of options including ESG, sukuk, equities, fixed income, etc.
Also, HAYAH’s funds are managed by professionals (Azimut is a global firm) and likely have track records. Employers might ask for performance data for the default fund or main funds over the past 3-5 years (if available, or simulated if new). While past performance isn’t a guarantee, it indicates competence. Additionally, check if the provider’s funds are Shariah-compliant if that’s important for your workforce. HAYAH offers Shariah-compliant choices
Which is a big plus in a multicultural environment.
Cost Structure and Fees: Running a pension scheme involves fees – fund management fees, administration fees, perhaps advisory fees. Employers should scrutinize the fee structure as it affects net returns for employees (and possibly costs for the company if they decide to subsidize any fees). Ideally, the provider should have a transparent fee schedule. HAYAH, being an established insurer, likely has competitive group pricing and economies of scale. They might charge a percentage of assets for fund management and a flat or per-employee fee for administration. Compare providers on cost, but remember the cheapest isn’t always the best – quality of service and returns matter more. That said, HAYAH’s proposition likely emphasizes value: top-tier service at a reasonable fee. Moreover, if HAYAH bundles the pension administration with life/disability insurance as a package, there might be cost efficiencies (one provider handling multiple benefits can reduce overlap and offer package discounts).
Service and Support: A pension provider isn’t just a platform – it’s a service organization. Evaluate the level of supportthey provide. Do they have a dedicated relationship manager for your company? What’s their query resolution turnaround? Will they help with employee onboarding sessions and ongoing education? HAYAH prides itself on customer-centric service – quotes from their clients speak to excellent support and expertise
They also have a knowledge center and news updates
Which indicates they keep clients informed. In the critical moments like an employee leaving (needing payout) or a death/disability claim, the provider’s responsiveness is key. HAYAH’s testimonials indicate outstanding claim settlement and support in group life cases
Reflecting a strong service culture which would extend to the pension scheme side.
Integration of Insurance Benefits: One unique factor to consider is whether the provider can integrate other benefits, particularly life and disability insurance, with the pension. As discussed, that integration is valuable. HAYAH, as a life insurer, can offer group life and disability that complement the pension. By choosing HAYAH, an employer could have one provider for both the retirement plan and the protection benefits, resulting in a one-stop-shop solution. This simplifies vendor management and often yields better coordination (e.g., if an insured employee dies, HAYAH can seamlessly process the life insurance claim and also assist with pension fund payout to beneficiaries). Providers that are pure investment managers couldn’t do that – you’d have to deal with separate insurance carriers. Thus, HAYAH’s multi-line capability is a key factor for those seeking comprehensive coverage.
Reputation and References: Before deciding, employers should seek references or case studies of the provider. HAYAH can point to many clients in the UAE. The positive feedback from partners and brokers in their website (like SIACI Insurance Brokers praising their flexibility and support
Reinforces that HAYAH is highly regarded in the market. Word-of-mouth in the HR and CFO community also matters – likely, HAYAH’s name is recommended for being at the forefront of these reforms (they’ve been active in industry forums, Gulf News events, etc.). A provider’s reputation is built on reliability and fairness; HAYAH’s longstanding presence and growth indicate a strong reputation.
Flexibility and Customization: Each company might have specific needs – maybe vesting conditions, or handling of existing gratuity reserves, or specific employee communication requirements. A good provider will show flexibility in plan design. For instance, can they accommodate an employer who wants to contribute above the mandatory rate? Can they handle mid-year joins and exits seamlessly, including any pro-rata calculations? HAYAH’s experience means they likely have encountered diverse scenarios and can customize their admin to some extent. If a company has unique needs, HAYAH would work to configure the scheme accordingly (as long as it’s within legal bounds). This flexibility might also extend to reporting formats, integration with specific payroll systems, or aligning contribution dates with the company’s payroll cycle if it’s different.
Employee Engagement and Communication: The “soft” side of a provider’s service – how they engage employees – is crucial for the scheme’s success. Evaluate if the provider offers multilingual support (given expatriates come from everywhere), and if their communication materials are clear and educational. HAYAH, given its emphasis on digital education, likely offers interactive tools, FAQs, live webinars, etc., to help employees understand the plan. A provider that just manages money but doesn’t communicate well could leave employees confused or disengaged. Meanwhile, HAYAH’s approach of empowerment through digital means employees are more likely to appreciate and maximize the benefit
Ask providers: will you help us with the kick-off presentations? Do you have an employee hotline? HAYAH certainly would say yes – they have the infrastructure for customer support.
Financial Strength and Risk Management: Since pension schemes involve long-term commitments, the financial strength of the provider cannot be overlooked. One should review the provider’s financial ratings (for insurers, agencies like S&P or AM Best provide ratings). HAYAH being listed means its financials are public and it adheres to corporate governance standards. It’s likely well-capitalized (as required by the Central Bank for insurers). A robust provider means in extreme scenarios (market crashes, etc.), they have the resilience and possibly protections (like reinsurance for certain guarantees) to safeguard the scheme’s continuity. While the funds are separate, a provider’s stability ensures continuity of service and management. You wouldn’t want your provider going out of business or being taken over by regulators. HAYAH’s “Here to stay” messaging
Underlines its commitment and stable backing.
Alignment with Company Values (ESG and Ethics): If a company prioritizes ESG values internally, it might prefer a provider that also values ESG (as covered in Article 4). HAYAH’s active inclusion of ESG investment options
Shows alignment with modern sustainability values, which could be a deciding factor for like-minded companies.
Conclusion – Why HAYAH Shines: Summing up the key factors – compliance, experience, digital prowess, fund options, service, insurance integration – HAYAH offers strong credentials in each area. It’s no surprise that their CEO states “expertise, world-class experience, and commitment to innovation position us as the foremost provider of pension solutions in the region.”
When choosing a provider, an employer is essentially choosing a partner for a critical long-term initiative. HAYAH’s comprehensive strengths make it a partner that can be trusted to deliver not just the nuts and bolts of administration, but the strategic support to make the pension scheme a success for both the company and its employees.
Sources:
International Adviser – HAYAH is SCA-licensed to manage corporate pensions; pioneer of first Central Bank-approved pension plan (2021)
HAYAH Company Info – HAYAH is listed on ADX, fully licensed by UAE Central Bank, serving 350+ companies (demonstrates regulatory compliance and experience)
International Adviser – HAYAH’s CEO: “comprehensive, reliable, top-tier pension solutions… expertise and innovation position us as foremost provider”
HAYAH Client Testimonials – Clients praise HAYAH’s product expertise, flexibility, and outstanding claim settlement/support
International Adviser – HAYAH/Azimut partnership provides diversified investments including sustainable and Shariah options, with active management and detailed reporting
HAYAH Website – Highlights digital management across all devices and strong security (regulated by Central Bank and SCA)
Additiv Press Release – HAYAH’s platform offers seamless solutions for corporate needs and individual aspirations, emphasizing personalization and digital ecosystem
UAE Government Portal – At least one approved provider (Daman Investments) offers a capital guaranteed portfolio for low-risk, indicating provider offerings can include guarantees
House of Commons Library (UK) – (By analogy) Emphasizes importance of capable pension providers in auto-enrolment success – member engagement and low opt-out where provider service is high (contextual)