Sukoon Workplace Savings Solutions

What does Sukoon Workplace Savings do?

It administers GO SAVER, an employee money purchase scheme that DIFC lists alongside DEWS as a qualifying scheme. DIFC says GO SAVER is approved by the DFSA and the DIFC Authority.¹ Sukoon Workplace Savings Solutions Limited is a wholly owned subsidiary of Sukoon Insurance.¹

As administrator it handles the day-to-day running: receiving payments, paying benefits, making investments, keeping records and reporting.²

Who else runs GO SAVER?

• CSC Trustee Services (Middle East) Limited, the operator and trustee, which legally owns the assets for members.
• Franklin Templeton, the investment manager.²¹

Sukoon says all three are regulated by the Dubai Financial Services Authority, and that a supervisory body oversees governance and commercial matters outside regulatory supervision.²

What can your savings go into?

The default is a capital protected fund issued by Sukoon Insurance and Generali Global Pension, with a selection of other funds, including Sharia-compliant options.¹ Sukoon describes the range as capital protected options, risk-based portfolios and standalone funds.²

The contribution your DIFC employer must pay is the same whichever qualifying scheme it uses. See DEWS for the rates.

Ask your employer for GO SAVER’s fee schedule before you choose funds.

How do you contact Sukoon Workplace Savings?

It lists 800 GOSAVER (800 4672837), contact@sukoonworkplacesavings.com and, for complaints, complaints@sukoonworkplacesavings.com.²