The Ph Philippine ppines s as s Retir tirement ement Haven n for r Baby y Boomer mers PHILIPPINE RETIREMENT AUTHORITY 29 / F CITIBANK TOWER PASEO DE ROXAS, MAKATI CITY 1
I. Baby Boomer omers Population Project of Select Countries (thousands) Year Area Age 2010 2025 2050 35-59 497,095 534,784 408,766 China 60-Above 165,153 281,597 439,207 Total 662,248 816,381 847,973 35-59 42,583 40,504 27,888 Japan 60-Above 38,544 43,600 45,005 Total 81,127 84,104 72,893 35-59 18,873 18,123 12,863 Republic of Korea 60-Above 7,574 13,680 18,321 Total 26,447 31,803 31,184 35-59 105,625 105,828 116,607 United States of America 60-Above 57,165 85,172 107,239 Total 162,790 191,000 223,846 35-59 432,578 428,663 369,340 Europe, Northern America, 60-Above 268,761 350,298 418,327 Australia/New Zealand and Japan Total 701,339 778,961 787,667 Source: United Nations, Department of Economic and Social Affairs - Population Division, Population Estimates and Projections Section (http://esa.un.org/unpd/wpp/unpp/panel_indicators.htm) 2
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Note: The dotted line indicates the excess male or female population in certain age groups. Age groups are in millions. Source: United Nations, Department of Economic and Social Affairs, Population Division (2011): World Population Prospects: The 2010 Revision. New York (http://esa.un.org/unpd/wpp/population-pyramids/population-pyramids_absolute.htm) 4
A STUDY ON RETIREMENT REVEALS THAT… A. World-wide Attitude towards Aging: POSITIVE B. Readiness of Countries to Demographic Change: NOT READY C. Traditional Structures of Care for Elderly: CHANGING ______________________________________________________________________________________________________________________________ FACT : In 25 years, persons age 30 and older will be 99% of Asia’s population FACT : Age 65 and older are the fastest growing group Source: “The Future of Retirement” – a study commissioned by HSBC to examine attitudes towards ageing and retirement in ten (10) societies that together contain half of the world’s population. 5
WHAT OUR TARGET MARKETS SAY… JAPAN : Time for good health, family considerations and continued fulfillment from work SOUTH KOREA : 92% of women surveyed said they do not want to live with their children in old age CHINA : Older generations want to stop working and relax; but the family is central Sources: The Future of Retirement – a study commissioned by HSBC – to examine attitudes towards ageing and retirement in ten (10) societies that together contain half of the world’s population; “As Asia’s Population Ages, Worries Grow about the Future,” Andrew Mason, Sang-Hyop Lee, Gerard Russo, East West Center 6
II. Why the Philipp ppines ines THE WORLD 7
State of the Art Medical facilities and World Class Healthcare Service Providers 8
Tropical Climate and Natural Attractions 9
Affordable Cost of Living and Amenities 10
III. . Philipp ppine ine Retir iremen ement t Authority thority VISIO ION To make the Philippines a globally competitive and preferred retirement destination in Asia. MISSIO SION Provide excellent and world-class services centered towards customer-valued quality of life that is easy, pleasant and beneficial to foreign retirees and global Filipinos, as a channel of accelerating the socio-economic development of the country. 11
31 Aug. 2001 12 May 2009 04 July 1985 E.O. 26 E.O. 1037 R.A. 9593 12
The PRA Organiza zatio ion RESIDENT RETIREE CORPORATE SATELLITE SERVICING MARKETING RESOURCES OFFICES CENTER (RRSC) Processing Division Client Relations Admin Division Baguio City Division Servicing Division Retrement Inst. Clark Marketers’ Angeles, Pampanga Finance Division Management Unit Investment & Subic Monitoring Group Ads & Promo Co-Invest. Fund Olongapo, Zambales Special Concerns Division Corporate Planning Cebu City Unit Web Marketing LIRA/RADAR SWS Contact Center Davao City Accreditation & Social Dynamics Franchising Group Reg. of Facilities Recreation & Therapy Center Info. & Tech. Group (RTC) 13
Our Core Product: Special Resident Retiree’s Visa 14
SRRV V Benefit its 1. Option on to Reside de Perman anen ently 2. Multipl ple e Entry y Privi vileg eges es 3. 3. Exempt ption ons s from: Bureau au of Immigrat ation on ACR I-Card Alien Registrat ation on Emigrat ation n Clearanc nce Certificate te (ECC) Re Re-Ent ntry Permit (RP) Special al Return Certificat ate e (SRC) Custom oms Duties and Taxes with regard d to the importat ation on of househ ehold d goods and persona nal effects ts up t to US$7,000. 0.00 00; Tax from pension on and annuities; es; Travel el tax, if stay in the Philippines es is less than one year from the last entry date; Student’s Visa/Study Permit; Return Ticket et. 15
SRRV V Benefit its 4. Assist 4. stan ance ce in securi uring ng documen ents s from om other er government ernment agenci ncies. es. These se include de, but are not limited ed to: * Alien Employme ment t Permit (AEP) from the Departm tmen ent of Labor and Employme ment nt *Driver' er's License form the Land Transpo porta tati tion on Office *Tax Exemption n / Extension n Certificat ate e from the Departme tment nt of Finance *Tax Identificati tion on Number (TIN) from the Bureau of Interna nal Revenue ue *Clearan ance from the National Bureau of I Investigat ation n (NBI) 16
SRRV V Benefit its 5. Avai ailmen ent of the Greet et & Assist st Program am; 6. Free e subscr cript ption on of the PRN (PRA Newslett etter) er); 7. Soci cial al Dynamics amics Lakbay ay Saya Tour (Educational , Cultural & Informative Tour) Communi nity ty Immersion on - Medical/Dental Missions / Outreach Programs Fun Activities es – Beach Bash, TV Network Tours, Fun Run / Walk ----------------- 8. Use of the Services ces with a Smile e (SWS) Contact act Center er 9. Use of the Recrea eation on and Therap apy y Center er (RTC) 10. Avai ail Servi vices ces of the Retirem emen ent Institute ute (RI) 17
SRRV Optio ions SRRV SMILE LE (Non-Convertible) Regular Acti tive ve Retirees Retir irees SRRV CLASSIC (Convertible) Former Diplomats Former Filipino SRRV Courtesy esy Ailing SRRV Retir irees Human an Touch 18
SRRV SRRV SRRV CLASSIC SRRV HUMAN OPTIONS SMILE TOUCH For Active/ For Active/ Healthy For Ailing Healthy Retirees Retirees Retirees Age 35 y.o. & above 35 to 49 y.o. 35 y.o. & above Qualification = US$20,000.00 = US$50,000.00 = S$10,000.00 & Visa 50 y.o. & above Deposit = US$20,000.00 = US$10,000.00 PRA Designated Development Bank of the Philippines Bank(s) 19
SRRV SRRV SRRV SRRV OPTIONS SMILE CLASSIC HUMAN TOUCH Age 35 y.o. & above 35 to 49 y.o. 35 y.o. & above Qualification & = US$20,000.00 = US$50,000.00 = US$10,000.00 Visa Deposit 50 y.o. & above = US$20,000.00 = US$10,000.00 Convertibility *Inconvertible *Convertible to *Inconvertible of Deposits *Locked-In with Active Investment *Locked-In with the PRA in RFO Real Estate the PRA Designated Bank Properties Designated Bank *Intended for End *Investment value *Intended for End of Term must be at least of Term Obligation Obligation US$50,000.00 20
SRRV SRRV SRRV SMILE CLASSIC HUMAN TOUCH Documentary Requirements: Additional • SRRV Application Form Requirements • Original Passport with Valid Entry Health 1) Insurance • Medical Examination Clearance Policy • Police Clearance (from country of origin) & Pension 2) National Bureau of Investigation Clearance Documents • ID Pictures (12) pieces 2”x2” • Proof of Relationship for joining DEPENDENTS • Pension Documents for SRRV Classic Applicants under the with Pension Scheme (US$10,000.00) Upon reaching 35 years old, the SRR Visa of the Dependent will be automatically cancelled – unless dependent will join as a PRINCIPAL Retiree 21
SRRV SRRV SRRV SMILE CLASSIC HUMAN TOUCH Dependents Principal may be enjoined by Dependents ts Principal may be (Spouse/Chi /Childre ren). ). If more than two (2), enjoined by one additi tional Visa Deposit t will be require red (1) dependent Application Principa pal Applicant nt US$1,400. 0.00 00 Fee Depende dent nt US$300.00 00 (one time proces essing ng fee) Yearly Renewal al of PRA ID C Card Obligation Update e Status & C Contact t Informa mati tion on Paymen ent t of the PRA A Annual Fee (PAF) US$360.00 (additi tional US$100.00 for each dependent t in excess of two) *PAF is payable upon enrollment t & every ry year r there reaft fter 22
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