Frequently Asked Questions

Retirement Savings Plans

  • What is the Qatar Airways International Savings Plan ?
    It is a plan Qatar Airways has set up to help you save money for your future and will significantly enhance your benefits package.
  • Why am I invited to join the ISP ?
    The ISP is only open to certain groups of employees of which you are a part of.
  • What does it mean if I decide to join ?
    Then the end of service benefit (EOSB) that has accumulated since your date of joining Qatar Airways will be transferred into the ISP.
  • Do I have to join the ISP ?
    No, although we believe this would be a valuable addition to your benefit package. You can elect not to complete the Joining Form and you will not be enrolled in the ISP. Only members enrolled in the ISP will benefit from Qatar Airways’ contribution of 10% of base salary into the ISP.
  • How do I join the ISP ?
    Complete and email the Joining Form to ispadmin@qatarairways.com.qa and we will do the rest.

Payments and Investments

  • How will I know the value of my EOSB is that will be
    Once you have communicated to ispadmin@qatarairways.com.qa your intended date of joining the ISP (which must be the first day of a month), we will advise you the value of your EOSB that will be transferred into the ISP.
  • Will I lose my EOSB if I join the ISP ?
    No, at the time of joining the EOSB that has accumulated since your date of joining Qatar Airways will be transferred into the ISP. When you leave Qatar Airways’ employment, you are always guaranteed the value of your EOSB accumulated that you would have been entitled to receive at the time of leaving the employment of Qatar Airways if you have not joined the ISP.
  • When will Qatar Airways contributions start ?
    Our contribution will start at the same time your own contribution starts.
  • How much will Qatar Airways contribute to the ISP ?
    We will make contributions of 10% of your base salary.
  • How much will I be required to contribute to the ISP ?
    You will be required to contribute 5% of your base salary.
  • Can the contributions be invested in my own choice ?
    No. All investment funds are in US Dollars.
  • Do I have the choice to decide how the contributions
    Yes, but only in relation to your own contributions. You will have a choice of five different investment vehicles. Depending on the risk profile that you deem appropriate, you will be able to decide in which funds you wish to invest.

Retirement, death, and leaving service

  • When can I take my savings ?
    When you leave Qatar Airways’ employment
  • Will I still receive my EOSB when I leave the employment ?

    You will receive the accumulated savings in your ISP account together with the accumulated savings in the Company Funded Account subject to the below vesting rules. However, you are protected by the fact that Qatar Airways is guaranteeing that you will always receive as a minimum your EOSB that you would have been entitled to receive if you have not joined the ISP.

     

    The vesting rules are as follows:

    - If you have less than one (1) year of continuous employment, then you will only receive the accumulated savings in your own ISP account.

    - If you have more than one (1) year but less than five (5) years of continuous employment, then the greater of: (i) seventy five percent (75%) of the value of the Company Funded Account, or (ii) the value of the EOSB that you would otherwise have been entitled to have you not joined the ISP, will be paid to you.

    - If you have more than five (5) years of continuous employment, then the greater of: (i) one hundred percent (100%) of the value of the Company Funded Account, or (ii) the value of the EOSB that you would otherwise have been entitled to have you not joined the ISP, will be paid to you.

     
  • Will I be entitled to receive both an EOSB&ISP when I leave
    No.
  • What happens if I die while I am a member of the ISP ?
    In the unfortunate event of your death whilst you are still a member of the Plan, regardless of whether you are still employed by Qatar Airways or not, 101% of your employee account(s) and the value of your employer account to which you are entitled will become payable. It is therefore important that you nominate your beneficiaries online via ZIO as doing so will assist Zurich or your Plan Trustee to identify who will be entitled to receive the benefit.
  • Can I transfer the value of the ISP into other plans
    No, not during your employment with Qatar Airways.

Miscellaneous

  • Will there be any tax payable on the proceeds ?
    The tax treatment of any contributions into and any benefits taken from the ISP will depend on your own personal circumstances. It is always advisable to consult your relevant financial professional if you are in any doubt as to the extent to which you may be liable to any tax under the ISP.
  • What happens to my ISP contribution when on unpaid leave ?
    Your and the Qatar Airways’ contributions will be suspended.
  • Will Zurich International provide consultation to me
    Zurich’s role is to support all members in the ISP whenever required, however, please note that they are not licensed to provide investment or other financial advice.
  • How can I be sure that the ISP is secure ?

    The Island has established its own Insurance and Retirement Benefits Acts, ensuring that authorised companies have sound and professional management and that the interests of Sponsors and their members are protected. Zurich is authorised in accordance with the Insurance Act 2008 to conduct long term insurance business from the Isle of Man under the supervision of the Isle of Man Financial Services Authority (IOMFSA). The Insurance Act obliges senior management and controlling parties of insurance businesses to be fit and proper, and that the companies are financially sound.

    The legislation is clear and comprehensive and the reporting requirements it contains satisfy the IOMFSA's strict

    supervisory needs.