FAQs
FAQs 

6. What are the important things that company management needs to know to decide whether or not to approve your proposed program?

 

Below is a concise list. A corresponding presentation is also provided. (Hover mouse to the bottom right of the slide show for the control buttons to appear; you may then go forward or go back.)

 

 

 

  • R.A. 7641 and its interpretation (Slides 3 and 4)
  • Tax qualification incentives under R.A. 4917 (Slide 5)
  • General / Specific objectives for setting up a retirement program (Slide 7)
  • Proposed program: benefits, eligibility requirements and their rationale (Slides 8 - 11)
  • Long-term cost of the proposed plan as a fixed percentage of payroll compared to the cost of providing R.A. 7641 mandated benefits; assumptions used in the calculation and sensitivity of the costs to changes in assumptions (Slide 13)
  • Immediate cost impact of the proposed program under the applicable accounting standard (PAS 19 or PFRS for SMEs) and the assumptions used (Slide 14)
  • Projection of expected benefit payments (Slide 15)
  • Funding recommendations (Slide 16)
  • The advantages of setting the program now (Slide 17)