Updated Jan 16, 2018
Ideal Pension Plans Corp. filed for voluntary insolvency on December 29, 2010.
Atty. Leonila Licuan was appointed liquidator by the court.
Address of Atty. Licuan:
3rd Floor Del Castillo Bldg.
Rizal St., Surigao City
856-3545 Bing or Alma
0947-53337503 Bing Isidro
There have been several planholders of Ideal Pension Plans who have been asking about the status of their pre-need firm. I’ve also read in other forums complaints about the failure of Ideal Pension Plans to pay maturing benefits and claims.
My answer was always about the need for Ideal planholders to connect with each other online and talk about how they can pursue their claims. I’ve even suggested that if they’re interested, I can email those who made comments here about Ideal and ask if they like to exchange email addresses.
Now, one Ideal Pension planholder, Juni, has placed on the comment section a notice he said it came from the Makati Regional Trial Court. And he’s calling for all Ideal Pension planholders to unite, help each other and show their power during the hearing on October 5, 2010.
Comments From Juni:
Hi all! I just received a NOTICE OF HEARING from the Regional Trial Court, National Capital Judicial Region, Branch 66, Makati City which states:
In the matter of the petition for VOLUNTARY INSOLVENCY of IDEAL PENSION PLANS CORP.
IDEAL PENSION PLANS, Petitioner.
Notice of Hearing for: Meeting of all all IDEAL CREDITORS
You are hereby notified that the above-entitled case will be heard before this Court, located at the 12th Floor, Makati City Hall Building, on the 5th day of October 2010 at 8:30 am, at which date, time and place, you or your duly authorized representative may appear for the selection of assignee and to prove through written evidence your respective claims, without which, it shall not be admitted.
City of Makati, August 23, 2010.
SGD. ATTY. JOHN IVAN B. TABLIZO
Branch Clerk of Court
I hope that this time we will be one and united to press Ideal to give us what is legally due us. Hope everyone could come.
According to online SEC records, Ideal Pension Plans Corp. was licensed to sell pre-need plans until December 31, 2008. In the SEC pre-need list as of September 9, 2008, Ideal Pension was listed, but in the SEC list as of January 2009, Ideal was no longer on the list.
Now, Ideal planholders, you have a chance to make your demands together. Bring xerox and original copies of your Ideal pre-need policies, but guard your original copies. There’s POWER in number. The more planholders at the hearing, the better.
Those who can visit the Makati City Hall and check if there are changes in the notice, it is for everyone’s good if they can do so, and then inform other planholders.
Comments by Ideal planholders can also be found here:
Pre-need Companies in the Philippines Now Under the Insurance Commission
Danvil Plans,Other Pre-Need Firms — Updates
Update from Nori on Ideal Pension Plans as of March 13, 2011: (Thanks a lot, Nori)
Next hearing is on March 18, 2011, Friday at 9:00 am sa RTC Makati Branch 66.
Under liquidation na po ang Ideal. The court is in the process of approving the liquidation plan. Kailan makukuha ang pera? Di po natin masasabi. It could be months or even years from now. Huwag po tayong mag expect na makukuha natin ng buo ang contract price. Approximately 20% lang makukuha. Depende sa mabebentang ari-arian ng court appointed liquidator, baka mas malaki o mas maliit ang makukuha.
Planholders of Platinum Plans, Ideal Pension Plans, Grayline Plans — Who Will Fight for Them?
Pre-Need Planholders — How to Ask Help from the Insurance Commission