Residents of the United Arab Emirates (UAE) are making a frantic last-minute dash to enroll in the country’s mandatory job loss insurance scheme, with the deadline set for today, October 1. Long queues were seen outside exchange houses across the nation as workers scrambled to subscribe to the scheme before the cutoff.
The Involuntary Loss of Employment (ILOE) scheme provides a low-cost and straightforward way for employees to have financial support in case of job loss for a specified period. Those who fail to register for the scheme by October 1 will face a fine.
The Ministry of Human Resources and Emiratisation (MoHRE) had previously extended the registration deadline from June to October 1, making it imperative for all employees in the UAE to enroll in the Unemployment Insurance scheme.
We call on all eligible citizens and residents working in the private sector and federal government to subscribe to the Unemployment Insurance Scheme before 1st October to avoid a AED400 fine.
Now, employers have the option to register their employees in the Scheme, however, we…
— وزارة الموارد البشرية والتوطين (@MOHRE_UAE) September 19, 2023
However, certain categories of workers, such as investors, business owners, domestic workers, temporary employees, juveniles under 18, and retirees receiving a pension, are exempt from this requirement.
Failure to register before the deadline not only incurs a Dh400 fine but also poses the risk of cancellation of the insurance certificate and an additional Dh200 fine for non-payment of premiums for over three months.
To register for the Involuntary Loss of Employment (ILOE) scheme, residents can follow these steps:
- Visit the insurance pool’s website at www.iloe.ae.
- Use the smart mobile application, available for both Android and Apple users.
- Utilize bank ATMs and kiosk machines.
- Visit money exchange company outlets such as Al Ansari and Lulu Exchange.
- Access registration through du and Etisalat channels.
- Register via SMS.
Time is running out, and residents are urged to act promptly to avoid penalties.