To believe that the Provident Fund is even in the realm of possibility of being a good investment strategy, is foolish. The Prov Fund has grossly under-performed the Markets and that fact is not debatable. Yet you might sit beside some pilot who professes to be knowledgable about finances who decrees that he is earning 10% or even 20% ROR in HIS Prov fund. He's not! But he doesn't realize it and that is the sad.
I emailed the Provident clowns regarding their method of sending info to pilots at EK because their methods were clearly deceptive. I questioned their number at the bottom of the statements and they responded with some BS about being to industry standards. They lied.
Google each and every fund in the Provident Fund and the average ROR is about 2%. Yeah it varies from time to time but the overall benefit is 2%. It's that simple.
A monkey would outperform those funds. They get a guaranteed contribution each and every month from you and EK...... think about that for a moment....... yet they underperform the Markets!
Your money is going somewhere else, I don't know where but you are being taken for a ride if you think the Prov Fund is a great thing.
The Prov Fund is OK because it's somewhat better than EOSB's but that is the extent of it all. Geeze, never listen to another pilot who professes that HIS Provident Fund is making ****e-loads. He's a person who just doesn't understand reality.
In summary. I took the advice of the financial dudes, I spent between 10 to 15 years at EK and my Provident Fund was worth about 20% more than if EK didn't have that Fund and I only could get the EOSB's which every employee in the UAE is entitled to. Those are the facts.
In other words, the Prov Fund is OK but do not believe it's some magical thing that should be part of your thought processes if you want to come to EK. It's a facade.