Group Savings Scheme


Staff considers their benefits package before joining any organization so all Employers have to be competitive in their employment package. A Staff Saving Scheme has become a valuable benefits as it provides a cash lump sum when your Staff leave or at retirement in addition to government pension benefits or their indemnity benefits for Expatriates. It is very effective way of retaining Staff that you have trained and who know your business thus avoiding additional expenses for recruiting and training new Staff.


The Company sets up a Voluntary Scheme with Bahrain National Life (bnl). You make contributions based on a percentage (5%) of each Employee's salary. Each Employee who joins also makes a similar contribution by direct deduction from his/her salary. The joint contributions are transferred to bnl for investment. Bahrain National Life handles all administration, presentations and issue Statements showing contributions paid and values. The Scheme provides for payment of invested values on death, retirement and leaving services.

Life and Disability Benefits

Staff Members may elect to take out additional benefits on an individual basis on preferential terms. These will be subject to individual Application Form.

Returns and Bonuses

Minimum Guaranteed Return: The Plan provides for a minimum guaranteed return for each Employee at each year-end. The guaranteed minimum reserve is net of all administration and investment costs. The minimum return is 2.5% simple annual rate (subject to bnl Policy) per year and is added to the Employee's funds.

Additional Bonuses: An additional bonus is may be declared by bnl depending on investment returns achieved. The bonus will be credited in the form of free units in the Unit Linked Insurance Plans of bnl.

Note that future performance is not dependent on the past performance so actual performance for the future cannot be guaranteed.

Investment Funds: The contributions you make will be invested in a diversified basket of international equities, bonds and deposit funds, which are structured to achieve steady conservative growth in the long-term. We also invest in the shares of locally GCC based Companies.

Plan Terms

Contributions: The Company will make contributions to the Plan at the rate of 5% of the monthly salary. Staff may join and contribute on a voluntary basis. Additional contributions can be made by Employees if they wish.

Leaving Services: Staff who will leave will be entitled to the benefit of the Company contributions based on the criteria stipulated in the Scheme Terms and Conditions, for instance:-



0-35 months


36-59 months


60 months or more


Reporting: We will provide Annual Statements to the Company showing contributions made and Plan values for each Employee. Statements will be available at any time on request.

Plan Ownership: The Plan Owner will be the Company. All payments and account proceeds will be paid by bnl to the Company. Employees who become Scheme Members will be entitled to the Plan proceeds only on leaving service or on retirement.

Loans: Loans are permitted under the Scheme subject to the Scheme Terms and Conditions.

Costs: bnl Charges
Investment management and administration fee 1.50% of fund values.
Investment Incentives Fee of 5% of investment return greater than 5% per year.
Certain fees apply to the loans on a case by case basis.

Scheme Administration

bnl will work with the Company to introduce the Scheme. This will involve presentations in Arabic and/or English as require to groups of 15 Employees at a time.

bnl will administer the Scheme. All Employees who become Members will receive a Membership Certificate showing details of contributions. The Company should send monthly, by email, a list of Members detailing contributions plus details of those new Members or those leaving.

Premium Payment: Contributions to the Plans are payable monthly in advance by cheque or bank transfer.

Three Items are required as follows:

1. Policy/Agreement: There will be a Policy/Agreement between the Company and bnl covering the Terms of the Scheme. This is based on the Terms and Conditions document.

2. Scheme Rules: There will be Rules for the operation of the Scheme. bnl will supply a draft and this need to be agreed between the Company and bnl. These Rules will cover items such as joining, leaving, contributions, refund of contributions, nominations of beneficiaries etc.

3. Application Form for each Employee: Every Employee will complete an Application Form to join and Payment Form.

Summary of Benefits
  • A guaranteed minimum return based on the Scheme Terms and Conditions.
  • bnl will assist you in introducing the Scheme through a series of introductory seminars.
  • Life and Disability Insurance can be added on a voluntary basis.
  • All administration will be managed by bnl to take care of paperwork and other concerns.
  • The Scheme is flexible and accommodates changes in salaries, staff turnover and extra contributions from Employees.