SSS has just launched another savings program called PESO, in May 2015. PESO means Personal Equity and Savings Option. Pag-ibig launched its savings program MP2 in February 2010. SSS launched its Flexi-Fund savings program in May 2002, but it was offered only to OFWs, and until now, Flexi-Fund is only for OFWs. Now, let’s compare […]
This is to respond to lots of questions sent to us about SSS pension adjustment for 1985 to 1989. We’re not from SSS, but we based our responses on sources listed at the bottom of this blog post. We could be wrong, so to be sure, you can ask SSS directly. Why is there […]
If your daughter is under 21 years old, unmarried and unemployed, she is qualified as your Philhealth dependent. Your Philhealth membership can help cover her medical needs. She does not need to register for Philhealth membership. But if she is pregnant, unmarried, and the father of her baby is not a Philhealth member, […]
Where can parents save for their children’s college education? Many pre-need firms in the Philippines have collapsed. Where can we save and invest? So we will have money for our kids’ college tuition? There are investments like stocks, mutual funds and bonds, but we must learn about how they work first. If you want to […]
Question from one of our Young Readers: Puede po bang turuan nio ako about time deposit, kasi first time ko pa lang sa mga bagay na ganito. Sana po magbigay kayo ng examples galing sa sarili ninyong time deposits.
Updated June 2, 2014: Both SSS Flexi-Fund and Modified Pag-ibig 2 (MP2) are savings programs offered by government agencies. Both offer interest rates higher than those offered by banks for savings accounts and time deposits. Both programs are guaranteed by the Philippine government. Both are tax-free. Total savings plus their dividend or interest earnings are tax-free. Both […]
We’re glad that the SSS has improved its salary loan program. In January 2011, I wrote on this blog that SSS salary loans are not really low-cost, compared to some bank loans, such as the Credit-to-Cash of BPI Express Credit and the Easy Pay of BDO Credit Cards. Now, finally, SSS has listened to members’ concerns, and these are […]
Updated April 1, 2015 You want to save and grow your money? Modified Pag-ibig II (MP2) is a great savings plan. It has advantages over regular savings accounts, time deposits, or pre-need plans.
From nearly 100 pre-need companies in the late 1980s to 51 firms whose supervision was transferred from the SEC to the Insurance Commission in 2010, there are now only 16 pre-need firms that were licensed to operate in 2015. Two of these will just be servicing companies — CocoPlans Inc. and Mercantile Care Plans, lnc. 1. […]