Paglingap Power Saver Program

[Ryze]

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Now we know our enemy, it is our self. - Pogo

[Ryze]

Up for today.

[Ryze]

The PERA Bill at its core
Since the Personal Equity Retirement Account (PERA) Bill was signed by President Gloria Macapagal-Arroyo last August 22, 2008, those who have been conscious savers and investors were fairly bursting at the seams with excitement.

Ah, the joys of tax-free savings and investments. It’s enough to make hearts skip a beat despite the gloomy global environment.

But wait. This news should be something that excites the nation as a whole. Particularly OFWs and their families. I don’t see that happening. Yet. Let’s see what we can do with that.

For starters, here are the things that you need to know about the PERA Bill.

At its core, it will allow you to create a voluntary retirement nest-egg from accredited savings and investment instruments based on YOUR preference and give you the chance to grow this nest egg faster by not slapping you with taxes on its earnings AND rewarding you with a 5.0 percent annual tax credit for your contributions if you keep your money in the PERA until age 55.

If that’s still too complicated, just think about this: tax incentives, baby. They are the cake and the icing on this thing. Oh and the fact that, if you’re tired of how the Social Security System and the Government Service Insurance System are handling your contributions, here you get to make your own call on where to put your money!

Here are some other details from the law, demystified:

1. Who can set up a PERA? If you can get a Tax Identification Number, you can set up a PERA. This money is yours and not given to the government, like in your traditional SSS or GSIS funds, for them to manage. You choose where it goes.
2. How do you begin? To set up your account, you need to get an administrator that will oversee your account. This will be a company approved by either the central bank, the Insurance Commission and the Securities and Exchange Commission. You can have only one administrator, but open up to five PERA.
3. Where to send your contributions? You also need to choose a custodian, which will receive the funds that you contribute. The custodian will operate independently from the administrator. Administrators and custodians are required to charge only “reasonable” fees that are approved by the government.
4. How much can you contribute? Maximum of P100,000 for those living in the Philippines, and P200,000 for those living and working overseas, per year. Couples together will have a P200,000 maximum contribution, or P400,000 for those living overseas. The Finance Secretary can adjust this from time to time.
5. Will your employer be required to add to your nest egg? No. They are encouraged, but not required. But employers who wish to use the PERA to enhance employee benefit packages on top of the SSS and GSIS contributions, are allowed to deduct their contributions from their taxable income. Now even if your employer contributes to your PERA, it does not have any authority where to put your funds. You still get to choose your investment outlets.
6. Who can help you decide where to put your money? You may or may not get an investment manager to help navigate the waters of investing, but choose carefully one who will act always for your best interests, not his. And one who is, of course, qualified.
7. What investment or savings vehicles can qualify under PERA? This would include unit investment trust funds, mutual funds, annuity contracts, insurance pension products, pre-need pension plans, stocks, exchange-traded bonds, and others approved by the government.
8. Why would you want to set up a PERA? You get three sweet deals: a tax credit of 5.0% of your total PERA contribution per year. This means if you max out your contribution to P100,000, you get to deduct P5,000 from your annual taxable income. Aside from that, your money gets to compound faster because all income earned in your PERA is tax exempt. Third, once you retire at age 55 and need your money, it still won’t be taxed. If you die before reaching 55, the money goes to your heirs without going into probate.
9. What are the disadvantages? Since the PERA encourages long-term savings and investments, make sure you contribute only the money that you can spare. Early termination or withdrawal means you get slapped with a penalty (still has to be determined by the Finance department) and taxes.
10. What if you have an emergency? You may withdraw money penalty-free only if you need money to pay for hospitalization of more than 30 days and if you are suddenly totally disabled.

Make no mistake about it, the PERA Bill will not make everyone wealthy. Unless we take advantage of it. Unless we actually know what to do with it. Unless we in fact take the time to spend less and invest more. Unless we stop complaining and start doing.

So get ready to start doing! If the Finance department is on schedule, the PERA Bill should be effective by January 1, 2009. Happy New Year indeed.

source: Money Smarts The PERA Bill at its core

[Ryze]

There is no greater reward for yourself than paying yourself for your future.

[Ryze]

The Paglingap Power Savers Program [PPSP] cares for your future financial well-being. It is a five year program that combines the high yield benefits of a savings account with the coverage of an insurance plan. This savings program is an opportunity that provides big earning potential to small money earners. By saving a part of what is earned — even a small part is the way to build wealth.

[honey2723]

tabang ko up ani Ryze... pareha ra man ta ug mission...

by the way, congrats on sharing the PERA bill info... I myself have heard of it, pero wala jud sa details... thanks for the info ryze...

God Bless sa imong business...

[hoopster]

Try mo ani 1 year warranty lifespan is more than 10 years

click lng ubos na link

https://www.istorya.net/forums/househ...r-aircons.html

[justdoit]

what if i could save more than 60000 + after 5 years would it double whatever the amount above 60T after 10 years?

[lorenzoleo]

This company has shady characters regarding their approach. Their product in the networking part is not related with the deposit. That is why I'm saying it is shady. It seems they want to confused people. This might be a possible scam. Please be careful.

Basi mapareho nasad ni atong Rural bank cge hatag guarantees na insured sa PDIC.
Be careful when people made some promises.
Be careful when somebody gives you guarantees, in fact the truth is there is no guarantees in this world.

Double your money nasad na scheme ai. Lisod man ng double your money in five years karong panahona oi.

[lorenzoleo]

Sacrifice now and enjoy later!
Enjoy now and suffer later!

- one of IMG TV commercials

Nindot sad inyong advocacy pero nganong layo ra man kaayo ang business ninyo kay sa inyng deposit? Murag shady lagi kaayo na. Unya guaranteed jud ang returns ana? Guaranteed sad ang PDIC mu insured ana?