As a practical solution to the complex issue of offering pensions to foreign workers who reside in high-income settings such as Dubai, the international pension plan market is seeing significant growth.
According to research from Towers Watson, an international professional services firm, 36 new IPPs have been set up in the last year. The four-year old International Pension Plan survey suggests that IPPs have grown 15 percent in the last year alone, part of a five-year cycle that has seen growth in the 50 percent range.
"The rapid rise of the IPP market is being driven by more companies offering IPPs for expatriates and using these plans as a 'catch all' pension and savings vehicle for diverse employee groups," said Michael Brough, a senior consultant with Towers Watson.
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