FPI launches Optus in UAE

Friends Provident International (FPI) has announced the launch of the Optus Group Savings Scheme, which has been developed specifically for employers who want to provide additional occupational benefits for their employees.

Optus will be available initially to companies based in the United Arab Emirates, and will be supported by FPI's Dubai operation. Optus will be rolled out to other territories in due course.

Based on the award-winning Friends Provident New Generation Pension (NGP) platform, Optus puts the employer firmly in control of their scheme. Secure online access enables an employer to update scheme member details, prepare illustrations for prospective members, allocate contributions to members' accounts with upload of data from payroll, switch funds, redirect future contributions and much more besides.

Optus can be denominated in UAE dirham, US dollars, euro and sterling and boasts a range of more than 120 funds - including several Sharia'h compliant funds. The fund range has been developed to complement any investment philosophy and each fund is expertly managed by leading Asset Managers such as Aberdeen, BlackRock, DWS, Fidelity, Morgan Stanley and Thames River.

In addition, a three-, five- or ten-year Lifestyle Investment Option can be included. This is designed to progressively move units to less volatile funds as scheme members approach their maturity age, to help protect their savings from a dramatic fall in value.

Optus key features

Award-Winning Technology - based on Friends Provident's NGP platform
Competitive charging structure
Range of currencies - UAE dirham, US dollars, euro and sterling
More than 120 top class funds - including a range of Sharia'h compliant funds
Lifestyle Investment Options - to protect savings from a fall in value
Online Account Management - putting the employer in control of their scheme
Award-Winning Customer Service
Dedicated Support
Unlimited free switching online

Kevin Taggart, business development manager at FPI said: "The launch of Optus Group Savings is the culmination of many thousands of man hours spent on this project. The launch represents a significant milestone on the FPI business development road map and I am delighted to be able to offer such a robust, innovative, competitively priced and flexible product to employers in the UAE."

Paul Tunnicliffe, director of international operations at FPI said: "The Middle East is one of FPI's key target markets. Optus has been designed to make doing business with us as simple as possible, and perfectly complements the range of protection, savings and investment products currently available in the region through our Dubai operation."