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Your retirement signifies a new phase in your life in terms of leaving your   work. It is a chance for you to get involved with some of the activities for   which you did not have time while you were busy with your work. Planning well   for your retirement years will allow you to have a comfortable retirement. It is   never too early to begin planning for your retirement. In fact, the younger you   start saving for it, the more you will save, as you will have a longer time to   do so.


There are many aspects to consider when it comes to deciding how much you need   to save for your retirement such as when you intend to retire, when to start   saving, and your current income. You also have to think about the goals and   plans you wish to accomplish once you are retired. To do so, try to estimate the   amount of money you will need each month to cover your living expenses and plan   your savings accordingly.

One of the popular saving instruments is a   savings account. Unlike a current account, this tool allows you to receive   annual interest on your money. Bonds can also be used as a saving instrument.   Bonds basically allow you to lend a fixed amount of money for a predetermined   amount of time to a bank or other institution. Terms for bonds differ, but all   bonds entail the repayment of the full amount of the capital placed after   completing the specified time (usually referred to as maturity   rate) with additional interest rates according to fixed intervals. You   can choose to invest in bonds at both national and international banks.

Pension Plans

UAE nationals are entitled to pension payments through the Abu Dhabi   Retirement Pensions and Benefits Fund once they retire. Established in 2000, the   Fund is responsible for managing pension funds and end-of-service benefits for   Abu Dhabi nationals.

To learn more, visit:

Starting up your own business

You might want to start your own business once you retire. This will require planning and saving so that you can have some of your own equity in the business. You need to research what type of business you would like to have, taking market needs into consideration. Innovation is always a plus when thinking of new business concepts. Ask around and try to find out what types of services or items people need or are missing from the market. And even if it is not a new product or service, think of ways in which you can differentiate your business from the competition.

There are many aspects you need to consider before you start your new business. Most importantly, you need to decide how you are going to finance your business. Research and collect information on the different services that are available to help you get started – funding, training marketing etc. are available from different agencies and institutions. You have to consider how much of your own money you will put into the business and whether you will involve any partners in your venture. You can also apply for business loans to aid you in financing your project.

If you decide to apply for a business loan, make sure you decide how much you need before applying. Furthermore, research the different lenders available to you, and it would also help if you can have legal advice on the loan stipulations.

To learn more about the different agencies that support entrepreneurs and to get inspiration from other young Emirati entrepreneurs,

visit the AKOUN

Quick Business Finance tips:

  • To keep track of your status, you need to develop a balance sheet to include the current state of your business, liabilities and equity. Your balance sheet needs to be constantly updated. (Balance sheet template- provides greater detail on this point)
  • You also need to develop a system to monitor your expenses vs. profits for fixed periods of times, or what is known as return on investment.
  • Plan ahead. Develop yearly schemes for how you foresee your money being used or spent each quarter.


Retirement Saving

Basic Retirement Saving Calculator
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