Only those on a base will receive an additional 15.5% of their gross income in cash for them to invest for retirement. If you are based in Hong Kong it will be invested in the company’s provident fund. You will have no choice as to who manages it.
Fair cop, I don't pretend to work for Cathay but I figured I got the info straight from the horse’s mouth. Allegedly (thanks 404) if you’re based in Hong Kong you have no choice in where to put your retirement so cross your fingers.
Like most everyone else in the world, my retimrement & health care benefits are deducted straight out of my paycheck every single month.
The 15.5% contribution are invested in selected Prudentials Funds (I think there's like 40 or 50 of them to choose from), and employee can make their own funds selection. Unless if you are lazy, the company director will invest the money according to your age/risk profile. So if you are not lazy, you do have a choice on your investment plan.
Also the funds is vested over 10 years period. You get 10% of the funds if you quit after 1st year, 20% after 2nd year, etc. So as long as you don't quit within 10 years, you should be alright. Just my two cents!
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