ToiletDucky
17th May 2008, 04:31
I'm a 26yr old american working at a regional airline. Putting in my time, earning a living, enjoying life and wondering what's in the future. Not here to upset anyone I'm just wondering if any airlines out there offer pensions and if so who.
Thanks for any input.
Duck
Wizofoz
17th May 2008, 04:58
If by pension you mean a defined benefit or final salary type scheme, virtually no-one offers those for new joiners any more and with good reason.
Guaranteeing a particular return on investment to someone 35 or 40 years in the future is fraught with peril, note the likes of BA and their one BILLION pound short-fall in their pension scheme, or the US Auto industry who spend more paying their retired workers than they do their current staff!
As you've come onto the Mid-east forum I can tell you that EK have a Provident fund where they contribute a percentage of your salary to an investment fund. On leaving (after a qualifying period) you get its' current value (similar to 401K in the US).If you worked here a LONG time (and I mean 25 years or so) it MIGHT form a reasonable part of your retirement, but probably would still not be enough to ensure a good lifestyle after your working life is finished.
In this day and age, your retirement is your problem and you would be wise to start planning for it now.