Cathay Pacific Provident Fund ?

[mig21bis]

how does a provident fund work?
do you get all the money invested by the company in the provident fund plus the interest after 10 or more years of service?
how does the cathay pacific provident fund performs?
how much do you expect to get after 20 years of service?


sorry to ask thing like this but in my banana country, argentina, we have a diferent way to retire and I dont know how a provident fund work. I am just a pilot :O

[mig21bis]

sorry to ask, here the state get part of the tax they apply to our salary for pension, and when you are 50 years old you can retire with 70 % of the pension, if you retire at 60 you get the 100 %.

so after 10 or 15 years of service you can get the 100% of the money you have on the fund + the interestes???? Sounds good to me if you fly for them for 20 years or more, if you fly less, not so good.

other :mad: cuestion. If you fly in hk, then you decide to take a oversea basing, pax or cargo. you still have the provident fund, no???? they dont take it???
I know you lose housing, school and maby other benefits.

thanks

[mig21bis]

if You have to withdrew the fund for a basing is not a good deal.

you can take the fund only if you retire or lets say after 13 years of service I can take the money from the fund when I want?

tks jizz

[FlexibleResponse]

Some basing contracts pay the 15 1/2 % as additional salary in lieu of provident fund.

The down side is that the extra pay is subject to normal income tax.

The up side is that you get to keep 100% if something untoward happens in the first ten years. Heh, heh!

BTW, who has ever heard of an employer stealing back an employee's provident funds?

[404 Titan]

FlexibleResponse
BTW, who has ever heard of an employer stealing back an employee's provident funds?
From speaking to a senior United captain recently who was just about to retire, he was telling me that is exactly what his employer has done under the disguise of Chapter 11 Bankruptcy Protection. He has been left with virtually nothing after a lifetime working for them.

[Turbo Beaver]

Here it is again!!

Seems to me NR is trying some propaganda here against CX pilots by publishing terms of their contract or something similar. Seems stuff like this always makes it way on here when decisions have to be made. Over paid, under worked pilots. Can’t wait until Airbus makes a pilotless aircraft. Finally get rid of those damn pilots. If you are looking for pay scales or benefits, email cathay pacific at their website www.cathaypacific.com, care of the personal department. Emirates have it on theirs.

Why do you bother to tell people the terms of your contract at time like this? There is a reason why they are asking!

Rod Eddington said, “it was important to try and win such battles in the media”.

[tamalai]

why worry ??? most people end up handing it over to Mrs Expilotswife.......................
as a man I met recently said, "I've got 4 years left to live",
"Oh, dear you have a terminal illness??"
"No, It's just thats when my money runs out !!"