Zurich Workplace Solutions (DEWS) DEWS Plan Sharia-Compliant Investment Options

The Sharia-compliant fund menu inside DEWS, the DIFC Employee Workplace Savings plan that replaced end-of-service gratuity for DIFC employers from February 2020. Members can direct employer contributions and voluntary savings into four options catering to Islamic beliefs: the Emirates Islamic Money Market Fund, the Franklin Global Sukuk Fund, the HSBC Islamic Global Equity Index Fund, and an Islamic Mudarabah option, switchable free of charge via the DEWS portal. The plan is administered by Zurich Workplace Solutions (Middle East) Limited (DFSA registration F005650), with Equiom as master trustee and Mercer as investment adviser. All-in ongoing charges as at March 2026: roughly 1.26% p.a. for the money market option up to 1.79% for the Islamic global equity option (0.20% trustee + 0.80% administrator + 0.23% investment advice + fund-specific management and expenses).

DEWS is the most important pension structure in the UAE and its Sharia menu is real: certified funds, published fees, free switching, and even Sharia-compliant death benefit handling. The single biggest failure mode is silence, since contributions default to the conventional Low/Moderate Growth fund and stay there unless the member logs in and switches. Every Muslim DIFC employee should make that election in week one. Costs are honest but not cheap; at 1.79% all-in, the Islamic equity option gives up a meaningful slice of long-run return, which is the price of the trust wrapper. Mainland employers wanting the same outcome should compare National Bonds' Golden Pension and the SCA/MOHRE alternative scheme funds.