Event Details

When: 09/02/2010 at 18:30

Where: Law Society, 113 Chancery Lane, WC2A 1PL

Subject: Funding the End of Service Benefits in the Middle East

The issue of funding end-of-service benefits (ESB) in the Middle East has become a topical one driven by the global slowdown which has hit the economies in the GCC. Many companies have and are still being forced to layoff workers, particularly in certain industries such as construction and retail. In addition, a recent trend indicates that employees (both local and expatriates) are staying longer with one employer thus compounding the future ESB liability for that company in certain Gulf states. The discussion will be focused around the future implications of unfunded liabilities in the Middle East and what some employers are doing currently to address their future ESB costs.

Michael Brough joined Watson Wyatt in 1994 and is a Senior International Consultant based in London. His expertise includes retirement and benefit solutions in emerging markets including the Middle East. He has a number of clients throughout the GCC and has worked on a variety of projects in the region such as the design and implementation of retirement and employee benefit programmes, often of a multi-country variety.

Michael is an economics graduate of the University of Wales, a Fellow of the Pensions Management Institute and has the Cert PFS from the Personal Finance Society.