CLIENT SURVEY (Main Provisions of Retirement Plans)

as of August 1, 2016 (contact us for the full survey)

    The survey was based on 1,205 active client companies of Actuarial Advisers Inc. covering 201,052 employees, where all regular employees are eligible.

    Normal retirement is at age 60 with a minimum years of service, and the benefit is 100% of monthly salary per year of service. Early retirement with employer’s approval is provided for those reaching age 50 with a minimum years of service, and the benefit is computed similar to normal retirement. Late retirement is until age 65, with the same benefit formula computation.

        Resignation benefit is provided but requires a minimum number of years of service, and the benefit amount is less than the formula for normal retirement benefit if service is less than the years required for full vesting. A benefit computed based on the formula for normal retirement is paid if the employee dies or becomes disabled.

    Benefits are paid in lump sum, and financing the retirement costs is the employer’s responsibility.

ACTUARIAL ADVISERS, INC.
Unit P-1, VGP Center, 6772 Ayala Avenue, Makati City Philippines Tel.Nos.8128512 / 8128395 / 8140408