The article The Money Roundtable: Do long-term savings products serve their customers or their sellers? (February 7) misses one very important point. If employers facilitated the opportunity for employees to save through the workplace (as they do in developed economies), there would be no need for their employees to source a retail product, which is often expensive and confusing.
Workplace savings is the answer – it’s far more convenient and cost-effective without expensive penalties for accessing benefits.
Some employers have recognised that such saving arrangements can provide a key benefit as part of an overall employee remuneration package. At the same time, the plan can be used as an employee-retention tool, rewarding individuals who choose to stay with the company on a longer-term basis.
The “win” for the employer is that it can differentiate itself within its peer group and become an employer of choice.
Employers need to rise to the challenge.
The most critical issue is to ensure that there is a strong regulatory framework to protect investors and to allow approved financial products to be sold in the UAE.
Secondly, there needs to be a campaign to educate the public on investing and highlight the approved products and companies that sell them. Lastly, it’s about “let the buyer be aware” and investors must do their due diligence and learn to ask questions, even if the person standing in front is dressed in a new Armani suit.
Don’t be pressured into investing if you are uncomfortable. The rule of thumb is if it’s too good to be true, it probably is.
Issues over hearing aid
I refer to the article Almost half of UAE residents put off acting on hearing loss, study finds (February 6). One way to solve this issue is to ensure all the new museums in Dubai and Abu Dhabi offer induction loops for the service desks, videos and theatres.
As the saying goes, build it and they will come. Give people a reason to invest in hearing aids. Eliminate the stigma for hearing aids and cochlear implants by promoting hearing access similar to New York City.
Your article omitted to mention the cost of hearing aids and hearing tests.
Following a five-minute hearing test at an Abu Dhabi hospital (approximate cost Dh1,000), I was offered a hearing aid that would cost me in the region of Dh25,000, of which only Dh5,000 would be covered by my insurance company.
Since I did not have Dh20,000 in ready cash, I declined. The audiologist then agreed that in effect I did not need this level of hearing aid – a lesser model costing Dh5,000 would serve my needs.
I was then referred to an outside supplier, but since this was not listed by my insurance company, I would still have needed to pay Dh5,000 from own pocket.
My experience at two other clinics was identical. Patients who cannot or will not pay for the hospital- or clinic-supplied hearing aid are referred to outside suppliers recommended by the hospitals’ own medical personnel. The terms “exploitation” and “scam” come to mind.
Abu Dhabi, but not as we know
As I watched Homeland, I was thinking that the surrounding looked like Morocco (Sorry Homeland, you're not fooling anyone with your visit to fake Abu Dhabi, February 6). Or maybe Abu Dhabi 20 years ago. However, the taxi looked good.
I have never seen a silver Toyota Corolla in Abu Dhabi. Nor, for that matter, a fireplace in an apartment.
It might not be Abu Dhabi, but it could well be the industrial area in Sharjah, Ajman, or Umm Al Quwain.