For those who have been in the company less than 7 years and 3 months and are concerned about entitlement to the provident fund then the good news is that you are due all A/B/C contributions that have been made.
We have been made redundant and have not been fired. If you check the fund FAQs then it will confirm your eligibility to all contributions on that basis. I also have email confirmation from Willis Towers Watson confirming the same.
I’d imagine for most of us the provident fund is larger than eosb. However, as has been mentioned above, you’re entitled to the larger of either eosb or A fund, plus your B and C contributions.
The fund is still held overseas in the Isle of Man.
With regards to leaving the country with outstanding mortgage, this is possible. You are able to buy property in the UAE without being resident.
Clearly if you default on the mortgage then the bank will look to repossess.
If you have salary guarantee letter then the bank will look to offset your end of service against existing liabilities such as loan and credit card. I am not sure on their handling of mortgage debt at that juncture but suspect it would not apply as a salary guarantee is not needed to acquire a mortgage.
Good luck to all.
Last edited by I love twins; 9th Jul 2020 at 15:49.
Reason: Mind working faster than fingers.