EOS Changes

Canadian CH E
Member

Posts: 15

EOS Changes Oct 2, 2017 4:37:04 GMT via mobile

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Post by Canadian CH E on Oct 2, 2017 4:37:04 GMT

Hey folks.
I've been offered a position and am currently in the process of working through the pre-visa paperwork.
During this period I've been informed that Aramco has changed Expat EOS Payne Rd so that they are substantially lessened. Instead they now have a schedule to increase benefits over time. Is this consistent with what others have found?
The new EOS Payments are very small and insubstantial compared to what one would get after losing a job in Canada.
Thanks!

swiftandsure
Member

Posts: 19

EOS Changes Oct 3, 2017 13:10:28 GMT

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Post by swiftandsure on Oct 3, 2017 13:10:28 GMT

On Global payroll they have always increased over time - I take it they have lowered the amounts? Currently roughly 1 year EOS = 1 month base pay, 2 years = 3 months, 3 years = 8 months, 4 years = 10 months and so on. Age plays some sort of role in it too.

Canadian CH E
Member

Posts: 15

EOS Changes Oct 3, 2017 20:42:19 GMT via mobile

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Post by Canadian CH E on Oct 3, 2017 20:42:19 GMT

The new EOS system takes away the old style savings plan which Aramco matched a portion of your savings monthly. Instead now you are given a small lump sum upon departure (it's less than 1 month per year, substantially less at smaller service intervals though it increases above 5 years).
Instead they are increasing the benefits supplement portion of pay at certain intervals.
I'm not sure if it all equals out in the big picture.

Last Edit: Oct 23, 2017 20:42:19 GMT by vpainter

lonelyplanet Member Posts: 20	EOS Changes Oct 3, 2017 21:12:20 GMT Quote Select Post Deselect Post Link to Post Back to Top Post by lonelyplanet on Oct 3, 2017 21:12:20 GMT Yes, the 8% company match (deferred benefit supplement) is taken away, so the EOS pay looks much less now.

new Newbie Posts: 2	EOS Changes Oct 24, 2017 13:55:00 GMT Quote Select Post Deselect Post Link to Post Back to Top Post by new on Oct 24, 2017 13:55:00 GMT HAS the EOS benefit change for global payroll effected current employees or just new ones? don't think id like it as a potential newbie if I have significantly lower benefits.

Canadian CH E Member Posts: 15	EOS Changes Oct 25, 2017 0:30:15 GMT via mobile Quote Select Post Deselect Post Link to Post Back to Top Post by Canadian CH E on Oct 25, 2017 0:30:15 GMT Not necessarily. I was told by Aramco that they have adjusted the Benefits Supplement to be close to the old EOS so that your BS gets increased on a preset schedule on the new system. Keep in mind this might all be SG dependent.

Post by Canadian CH E on Oct 2, 2017 4:37:04 GMT

Post by swiftandsure on Oct 3, 2017 13:10:28 GMT

Post by Canadian CH E on Oct 3, 2017 20:42:19 GMT

Post by lonelyplanet on Oct 3, 2017 21:12:20 GMT

Post by new on Oct 24, 2017 13:55:00 GMT

Post by Canadian CH E on Oct 25, 2017 0:30:15 GMT