Originally Posted by
magenta magnet
I don't think you understand how a pension works... what you're asking for is a double pension for day 1 as a second officer and that's not how life works. Second officers rent and save as much as they can until they are ready, first officers buy a little place with their working wife or if they've saved for a nice deposit, Captains have nice big houses. Same as any where else in the world.. in any industry.
And yes you can afford to buy a 3 bedroom house in Tung Chung for say $7.5m, that's just over 30k a month in repayments (and the interest rates are high right now, but they always change!) location location location.. HK is and always will be one of the most expensive cities to buy property in on the planet!
So no a property you bought is not your retirement, your pension that you contributed to for the last 30 years is your retirement.
What 3 bedroom in TC are you referring too? It must be the 3 bed/one bath. As the H/A apartments are still valued at about $10M. Repayments will still set you back about $35000 per month.
The pension is woefully low. To the point that if one retires in Hong Kong, 10 years of pension money will last them 2 years at best.