Questions

• Lahat ng miyembro ng UP Provident Fund na magte-terminate ng employment contract sa UP sa pamamagitan ng resignation, death, transfer to another government unit, o iba pang paraan ng separation sa UP maliban sa retirement ay makakakuha ng separation benefit.

  Para sa deceased members, maari lamang mag-claim ng separation benefit at life insurance benefit ang beneficiary/ies na nakalagay sa UPPF Membership Form o Insurance Form ng miyembro.

  Kung ang miyembro ay magte-terminate ng employment contract sa UP sa kadahilanan ng retirement, siya ay makakakuha ng Retirement Benefit Claim. Mababasa sa section ng Retirement Benefit Claim ang mga polisiya tungkol dito.

Kapag nai-submit na ang lahat ng requirements, matatanggap ang lump sum amount ng Member’s Equity na binubuo ng:

• Member’s Contribution
• UP Counterpart Contribution
• Earnings on Member’s Contribution
• Earnings on UP Counterpart Contribution

Makakatanggap din ang separating member ng Final Share sa income ng kumpanya sa kanyang huling taon ng membership sa Provident Fund.

Ang computation para sa net proceeds ng separation benefit ay:

• Member’s Equity
• +Final Share in income for the year
• -Loan plus interests and surcharges, if any
• -Vesting Rights, if applicable
• -Withholding Tax, if applicable
• -Maintenance and Dormancy Fees, if applicable
• -Service Fee
• =Net Proceeds of Separation Benefit

Ang deceased members ay may dagdag na P100,000 life insurance benefit na matatanggap ng kanyang beneficiaries, subject to the policies in the next item.

• Ang inyong separation claim ay maaaring bawasan ng mga sumusunod
• Loan Balance: Any unpaid loan balance from UP Provident Fund, including interests and surcharges.
• Vesting Rights: Amount of UP contribution to be withheld based on years of service, per Vesting Rights policy approved by the Board of Trustees (see details below).
• Withholding Tax – A 10% withholding tax shall be charged on the Earnings on the Member’s Contributions and the Earnings on the UP
  Contributions and UP Contributions, except if: (a) the member separates from UP due to death; or (b) the member is fifty (50) years old or older and has served UP for at least ten (10) years
• Maintenance and Dormancy Fee: Separation benefits that are not claimed within six (6) months from the date of separation from UP shall be charged P200 maintenance fee and P300 dormancy fee every month. These fees shall be charged against the total Member’s Equity, excluding the Member’s Contribution portion.


*As approved by the Board of Trustees (Board Resolution No. 06-20-2009-4)
**As per NIRC Section 60(b)
***As approved by the Board of Trustees (Board Resolution No. 06-15-2013-8)

• As approved by the Board of Trustees (BOT), retiring or separating Provident Fund members with at least fifteen (15) years of service in UP shall receive the full amount of the accumulated UP Counterpart Contribution portion of Member’s Equity.

  However, separating members with less than fifteen (15) years of service shall only be entitled to a portion of the accumulated UP Counterpart Contribution depending on their years of service in UP, computed as (No. of months of service divided by 180)

Ihanda ang requirements na ito upang ma-proseso ang inyong application.

• Ayon sa polisiyang in-approve ng ating Board of Trustees, ang lahat ng separating members ay mayroong anim na buwan (6 months) para mag-apply ng kanilang benefit claim. Pagkatapos ng anim na buwan, kung hindi pa rin nakukuha ang separation benefit, ito ay sisimulang kaltasan ng P200 maintenance fee at P300 dormancy fee buwan-buwan.

  Tandaan: may posibilidad na maubos ang inyong separation benefit (maliban sa portion ng Member’s Contribution) kung hindi ninyo kukunin ang inyong separation benefit within six (6) months from the date of separation.

  Mainam na kumpletuhin ang lahat ng requirements para hindi mabawasan ang inyong account. Kung hindi pa na kumpleto ang University Clearance o kulang ang iba pang requirements, maaari niyo munang kunin ang inyong Member’s Contribution. Kapag na-submit na ang kumpletong requirements, makukuha na ang naiwan at natitirang portions ng inyong Member’s Equity.

Oo, maaaring makuha ng retired member ang Member’s Contribution portion ng kaniyang Member’s Equity sa ilalim ng Option to Withdraw Member’s Contribution, kahit hindi pa kumpleto ang university clearance subalit kinakailangang ibawas muna ang anumang natitirang loan balance, interest, at surcharge, kung mayroon.

Halimbawa:

• Kung mas malaki ang Member’s Contribution kaysa sa loan balance
  Maaaring magkaroon ng opsyon na mag-withdraw ng natitirang halaga matapos maibawas ang loan balance, interest, at surcharge.
• Kung mas malaki ang loan balance kaysa sa Member’s Contribution
  Hindi maaaring mag-avail ng withdrawal option dahil hindi sasapat ang Member’s Contribution upang matakpan ang kabuuang loan balance, interest, at surcharge.

Ang iba pang portions ng Member’s Equity ay mananatili muna sa Provident Fund. Kapag nakumpleto na ang mga pending requirements, maaaring ma-claim ang natitirang halaga alinsunod sa mga polisiya ng benefit claim, kabilang ang vesting rights, maintenance and dormancy fees, at withholding tax, kung naaangkop.

I-submit lamang ang sumusunod para makuha ang inyong Member’s Contribution kung sakaling hindi pa kumpleto ang University Clearance o iba pang requirements.

Ang matatanggap na claim ay babawasan ng P200 service fee at ng unpaid loan balance, with interests and surcharges, if any.

Kapag na-kumpleto na ang pending requirements, maaari nang makukuha ang naiwang halaga ng Member’s Equity na naaayon sa mga polisiya ng benefit claim (tulad ng vesting rights, maintenance and dormancy fees, at withholding tax, if applicable).

• Kung walang isinulat na beneficiaries, ito po ang susundin

(As amended by the Board of Trustees during its 83rd Meeting held on June 20, 2009, and ratified by the members during its 11th Annual General Membership Meeting on June 20, 2009.)

1. Filing of Claims – The member concerned shall file his/her claim in writing with the Fund Campus Office. In case of a deceased member, the claim shall be filed by the beneficiary/beneficiaries named or designated in the Membership Application Form of said deceased member; provided that, should there be no beneficiary named or designated, or when the designation is void under Article 739 of the Civil Code of the Philippines and other existing laws, the claim may be filed by the legal heirs in accordance with the laws of succession. In all cases, the payment shall be governed by the policies and procedures established by the Fund.
   Beneficiaries The following persons may be designated as beneficiaries entitled to receive death and other benefits accruing under the Fund in this order of priority;
1. Legitimate Widow or Widower if not legally separated from the member
2. Legitimate, Legitimated, Illegitimate or Adopted Children
3. Parents
4. Brothers and sisters
5. Grandparents
6. In the absence of any of the foregoing relatives, any other person designated or named by the member.

Ang benefit claim ay ide-deposito sa bank account na inyong inilagay sa application na nakapangalan sa inyo.