Go Back  PPRuNe Forums > PPRuNe Worldwide > Middle East
Reload this Page >

EK Leaving question

Middle East Many expats still flying in Knoteetingham. Regional issues can be discussed here.

EK Leaving question

Old 3rd Apr 2018, 05:06
  #21 (permalink)  
Thread Starter
 
Join Date: Feb 2006
Location: dubai
Posts: 83
Originally Posted by Desdihold View Post
The funds are held in USD but you can nominate which currency you want the payout to be at that days exchange rate ( this related to a transfer directly to your bank account)

As as example, if you want to be paid in euros then you will have the equivalent of your USD account transferred in euros.

As always confirm the above, the folks at mondal are helpful in such matters.
So I wonder what method gives you the better exchange rate- the direct transfer where I am assuming the offshore bank that holds the Provident fund investments decides the exchange rate or getting the money encashed into UAE dhs then transferred at Al Rostamani ?

I wonder if anyone has figured that one out- kinda matters when dealing with big amounts.
pumpkin is offline  
Old 3rd Apr 2018, 07:21
  #22 (permalink)  
 
Join Date: Sep 2005
Location: Post-Pit and Lovin' It.
Posts: 845
Too many variables to make a blanket answer. It would depend on which receiving bank the money is sent to and what final currency you wish the funds to be in. If your home currency is not one of the major ones, perhaps an exchange house in Dubai may offer a particularly favourable rate, would have to check around.

But for sure the less conversions, the better. Even if your final currency is not USD it's almost certainly better to wire it directly in USD, then convert to whatever you want. Rather than convert USD to AED to currency X.
nolimitholdem is offline  
Old 3rd Apr 2018, 15:01
  #23 (permalink)  
 
Join Date: Jan 2018
Location: Mexico
Posts: 74
Originally Posted by BANANASBANANAS View Post
Good question and I don't know the answer.

In my naivety, I thought that as the Prov Fund was denominated in $ and I had arranged a $ account to accept the funds then the $ value of the Prov Fund at closure would be transferred in full, in $, to my offshore $ account without ever passing through a AED account.

Or is that too sensible?
No - that is exactly what I did. I have a USD account with HSBC in Jersey and had the Provident Fund transferred to them with no problems, it just took about 5 weeks.
Highway1 is offline  
Old 4th Apr 2018, 08:54
  #24 (permalink)  
 
Join Date: Feb 2017
Location: South Africa
Posts: 224
Originally Posted by desertcamel View Post
PAYROLL dept. will be the only one holding you back. They need to calculate every Fils you may owe them, before they calculate your end of service benefits. And only after that, they start on the Visa Cancellation process.(UAE and all US VISA issued under Emirates request).

EOS staff are very helpful in guiding you through the Leaving Process.

You are Lucky if you get your Passport and Provident Fund Cheque exactly at your LDS (last day of Service). Normally, a delay on Visa cancellation takes an extra 2 days. The company provides the pilot 2 nights FREE hotel Accomodation at the Holiday Inn express besides EGHQ after the LDS.

About the Repat Ticket, you can always rebooked it later as you like. but you need to exit the UAE 30 day after your Visa is cancelled.

With your LDS set and you have made up your mind how to claim your PROVIDENT. If by cash, I suggest you visit the NBD branch at the Mezzanine and set a date to Encash your cheque specially with a big amount, if over a million dirhams. They might not have enough CASH in one day, specially if there are 2 pilots encashing at the same time.
Yeah met with a mate of mine yesterday who resigned. Payroll had done him over properly!
Joker11 is offline  
Old 4th Apr 2018, 15:04
  #25 (permalink)  
 
Join Date: Jan 2006
Location: Dubai
Posts: 8
Hotel Accom

Originally Posted by desertcamel View Post
PAYROLL dept. will be the only one holding you back. They need to calculate every Fils you may owe them, before they calculate your end of service benefits. And only after that, they start on the Visa Cancellation process.(UAE and all US VISA issued under Emirates request).

EOS staff are very helpful in guiding you through the Leaving Process.

You are Lucky if you get your Passport and Provident Fund Cheque exactly at your LDS (last day of Service). Normally, a delay on Visa cancellation takes an extra 2 days. The company provides the pilot 2 nights FREE hotel Accomodation at the Holiday Inn express besides EGHQ after the LDS.

About the Repat Ticket, you can always rebooked it later as you like. but you need to exit the UAE 30 day after your Visa is cancelled.

With your LDS set and you have made up your mind how to claim your PROVIDENT. If by cash, I suggest you visit the NBD branch at the Mezzanine and set a date to Encash your cheque specially with a big amount, if over a million dirhams. They might not have enough CASH in one day, specially if there are 2 pilots encashing at the same time.
The "Free" hotel accom is only paid if in Company accommodation. If you are out - you're on your own...

RS

Last edited by rocketsurgeon; 4th Apr 2018 at 15:05. Reason: typo
rocketsurgeon is offline  
Old 4th Apr 2018, 16:00
  #26 (permalink)  
Thread Starter
 
Join Date: Feb 2006
Location: dubai
Posts: 83
Originally Posted by Joker11 View Post
Yeah met with a mate of mine yesterday who resigned. Payroll had done him over properly!
Care to elaborate?
pumpkin is offline  
Old 4th Apr 2018, 20:07
  #27 (permalink)  
 
Join Date: Feb 2017
Location: South Africa
Posts: 224
Originally Posted by pumpkin View Post
Care to elaborate?
He resigned before the end if the month so they deducted as much as they could. 10 years sevice and no flight benefits will be honoured etc. But they asked him if he wants to keep his lanyard. (He is ground staff by the way.) He is just happy he is leaving. Bright smile. Tanned. Looking forward to spending time with the family.
Joker11 is offline  
Old 6th Apr 2018, 08:34
  #28 (permalink)  
 
Join Date: Aug 2002
Location: Up north
Posts: 1,616
Posting here as Iím guessing there are a few 777 rated people here with right to work in the US who might be looking at coming home. Comlux looking for US based 777 VIP captain. Not 100% sure but Iím guesing this is for Crystal Cruises / Aircruises. Good luck.

CP
CaptainProp is offline  
Old 9th Apr 2018, 10:34
  #29 (permalink)  
Thread Starter
 
Join Date: Feb 2006
Location: dubai
Posts: 83
Originally Posted by Joker11 View Post
He resigned before the end if the month so they deducted as much as they could. 10 years sevice and no flight benefits will be honoured etc. But they asked him if he wants to keep his lanyard. (He is ground staff by the way.) He is just happy he is leaving. Bright smile. Tanned. Looking forward to spending time with the family.
[email protected] that sucks! Was he within 10 years of his normal retirement age? Because they should have honored it - I didnít think which part of the mont matters for resignation but rather being within 10 years of NRA(?)
pumpkin is offline  
Old 9th Apr 2018, 14:07
  #30 (permalink)  
 
Join Date: Mar 2003
Location: uae
Posts: 2,388
They are cold hearted ! 10 years is 10 years and they don't care.
Have to have completed 10 years and be within 10 of CRA.
If 10 years not completed then nothing!
fatbus is offline  
Old 9th Apr 2018, 14:52
  #31 (permalink)  
 
Join Date: Feb 2017
Location: South Africa
Posts: 224
Originally Posted by pumpkin View Post
[email protected] that sucks! Was he within 10 years of his normal retirement age? Because they should have honored it - I didnít think which part of the mont matters for resignation but rather being within 10 years of NRA(?)
He planned his resignation in such a way that he would get his 10 years. But they didn't honour it at all. He even stayed a year longer so that he could get his benefits!
Joker11 is offline  
Old 9th Apr 2018, 15:09
  #32 (permalink)  
 
Join Date: May 2002
Location: The Best Place!
Posts: 181
Who is really surprised?

A former #1 seniority number (RIP) lost all his CAPT benefits when he decided to work as an SFI after retirement. That's after pretty much being one of the first pilots employed by EK.

Anybody who thinks EK gives a sh1t about anyone is circling Pluto.
mmmbop is offline  
Old 9th Apr 2018, 18:02
  #33 (permalink)  
 
Join Date: Nov 2003
Location: MUC
Posts: 93
A question. Is it possible to keep your UAE bank account open after resigning and having left dubai, or do you have to close evething down?

Cheers
g109 is offline  
Old 9th Apr 2018, 18:57
  #34 (permalink)  
 
Join Date: Feb 2017
Location: South Africa
Posts: 224
Originally Posted by mmmbop View Post
Who is really surprised?

A former #1 seniority number (RIP) lost all his CAPT benefits when he decided to work as an SFI after retirement. That's after pretty much being one of the first pilots employed by EK.

Anybody who thinks EK gives a sh1t about anyone is circling Pluto.
Unbelievable. My previous airline I worked for handled it differently. She worked for sister company which received the same benefits as the main company. She left for a few years and then rejoined the main company. They still calculated the years of non-service as service years and now receives her full benefits.
Joker11 is offline  
Old 9th Apr 2018, 23:43
  #35 (permalink)  
 
Join Date: Jul 2011
Location: lost
Posts: 86
Originally Posted by g109 View Post
A question. Is it possible to keep your UAE bank account open after resigning and having left dubai, or do you have to close evething down?

Cheers
It is possible to leave the account open.
But the bank requires a minimum maintaining balance. And below the minimum balance, the bank starts charging you a 25 dirham penalty every month. And thats with NBAD ,when I asked them prior to me leaving.
desertcamel is offline  
Old 10th Apr 2018, 05:05
  #36 (permalink)  
Thread Starter
 
Join Date: Feb 2006
Location: dubai
Posts: 83
On another note- has anyone EVER successfully used their leftover SRCS In the two years post retirement? I have yet to hear of anyone successfully pulling it off. And i wonder about getting on with such low seniority of retirees. Trying to decide if staying the extra 8 months for the tickets is worth it.
pumpkin is offline  
Old 10th Apr 2018, 18:54
  #37 (permalink)  
 
Join Date: Jan 2006
Location: washington
Posts: 20
Originally Posted by pumpkin View Post
On another note- has anyone EVER successfully used their leftover SRCS In the two years post retirement? I have yet to hear of anyone successfully pulling it off. And i wonder about getting on with such low seniority of retirees. Trying to decide if staying the extra 8 months for the tickets is worth it.
Yep probably worth it, I've used my src's. You are too close to give it up. Drink all the best wine in first makes it worth staying. But not a day longer!
guts is offline  
Old 10th Apr 2018, 22:27
  #38 (permalink)  
 
Join Date: Mar 2003
Location: uae
Posts: 2,388
I ve done the same. Glass out of each!!! Also used the SRCs strategically.
fatbus is offline  
Old 11th Apr 2018, 00:22
  #39 (permalink)  
Thread Starter
 
Join Date: Feb 2006
Location: dubai
Posts: 83
Ok good to know there is light at the end of the tunnel
Thanks
pumpkin is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.