“Partnering with Mercer helps address a known issue in the Middle East – there is an obvious need for quality, workplace savings and gratuity funding advice in the region, and our partnership with Mercer is an ideal fit,” said Walter Jopp, chief executive, Zurich Middle East.
Zurich has $4bn (£2.9bn, €3.37bn) of assets under management for 730 companies and their 84,000 internationally mobile employees worldwide. Mercer has $227bn of assets under delegated management globally.
Cater for diverse preferences
Mustafa Faizani, chief executive, Mercer Middle East, India, Africa and Turkey comments: “Long-term savings decisions can be complex and there is no one-size-fits-all solution. For this reason, MySavings offers flexible and tailored investment options by segmenting employees based on their preferences.
“Some employees prefer decisions made for them, some simply want assistance in allocating investments and others prefer to make investment choices on their own.
“MySavings’ investment solutions have been designed by Mercer based on our extensive manager research and asset allocation expertise to cater for diverse preferences. And importantly, these solutions are proactively reviewed to ensure they continue to meet the evolving needs of employees.”
Peter Cox head of international pension plans sales, Zurich added: “In most developed economies, the facility to save through the workplace would be an accepted part of any employment package. However, across the Middle East, this important benefit is missing.
“For this reason, workers across the region have a real need for attractive workplace savings solutions, which could include the end of service entitlement. Those employers who facilitate workplace savings will find that they become an employer of choice with significantly improved recruitment and retention results.”