Frequently Asked Questions (FAQ)


What is the UP Provident Fund?

The UP Provident Fund, Inc. (UPPFI) is a voluntary and supplementary retirement fund established by the University of the Philippines (UP) to augment the retire­ment benefits of UP employees.

It also provides additional services to members such as loans and financial assistance, free life insurance, and financial literacy seminars. The Fund was approved by the UP Board of Regents in 1994 and registered as a non-stock, non-profit corporation with the Securities and Exchange Commission (SEC) in 1997.

Am I eligible to become a member?

All UP employees (regular, full-time, part-time, perma­nent, temporary, substitute, casual, or contractual) who receive salaries from UP’s General Appropriations Fund are eligible for membership.

Emergency staff, graduate assis­tants, student assistants, non-UP contractuals, lecturers, and professors emeri­ti are not eligible for membership. 

If you are unsure if you can become a member, simply inquire with a UP Provident Fund office near you to assist you on your membership inquiry.

At present, more than 10,000 out of 13,000+ employees across all UP campuses are members of UP Provident Fund. This means 3 out of 4 UP employees are currently members of the fund.

What benefits do I get as member of UP Provident Fund?

All UP Provident Fund members are entitled to receive the following benefits:

1. The amount of P200 every month (P2,400 total every year) from UP as employer’s counterpart contribution. You receive this every month as long as you’re employed by the University and a member of UP Provident Fund.

2. Your share in the earnings of the company. The personal contributions of all members are pooled together to be placed in investments that generate earnings. In recent years, UP Provident Fund members had received his­torical returns of 4-8% per year. This is a much higher rate compared to interest rates of savings or time deposit accounts. Please note, though, that historical rates of return are indicative of past performance and not a guarantee of future performance.

3. Free life insur­ance coverage of P100,000. In case of death, your beneficiaries will receive the amount of P100,000 as a form of financial security to help them get through.

4. Access to UP Provident Fund’s loan products. These include Personal Equity Loan, Bridge Loan, Emergency Loan, Balance Transfer Loan, and Remote Learning Support Loan. Our loan products charge interest rates that are much lower than those charged by banks or credit cooperatives. In addition, UPPFI’s loan processing is quick and loan proceeds are disbursed in less than a week.

5. Lump-sum amount upon retirement, resignation, or separation from the University. The lump-sum amount that you will receive comprise of your accumulated personal contributions, UP’s counterpart contributions, and share in the total earnings of the fund during the years you were a member of UP Provident Fund.

What happens when I become a member?

Members contribute to the UP Provident Fund monthly via salary deduction, while UP provides a counterpart contribution of P200 per employee per month.

All contri­butions are pooled together and invested in relatively safe investment assets such as government securities, time deposits, triple-A-rated corporate bonds, and loans to members, among others. Every year, earnings of the Fund are distributed back to all UP Provident Fund members (similar to dividends).

Upon retirement, resignation, or separation from UP, the member receives the full, accumulated value of his or her equity with the Fund.

How much do I need to contribute every month?

This is entirely up to you, but the minimum is 1% of your gross basic salary. You may contribute a higher percent­age or any fixed amount from your gross monthly salary. You may change this anytime by submitting a Member’s Data Updating Form.

One major requirement, though, is that your net take-home pay should not fall below the government-mandated net take-home pay. At present, the Department of Budget and Management (DMB) requires that the net take-home pay of a government employee cannot fall below P5,000.00.

The more you contribute, the bigger your future savings — so set aside an amount that you are comfortable to part with every month.

Can I put in my personal money aside from my salary?

No, contributions can only be made via salary deduction. This policy is in effect to institute fairness and equity among all members, regardless of salary grade and income status. Thus, contributions from outside sources are not allowed.


What do I get upon retirement or separation from the University?

Upon retirement or separation, you will receive your entire Member’s Equity, a lump-sum amount consisting of the full, accumulated value of your total personal contribu­tions, UP’s counterpart contributions, and your share in the accumulated earn­ings of the Fund during your entire years of membership.

For reference: Benefit Claims Policies

Please submit the Benefit Claims form and other required documents so we can process your retirement, resignation, or separation benefit.

What are the requirements so I can receive my money upon retirement or separation?

To receive the full lump sum amount, you must submit a copy of your:

(1) Service Record;

(2) com­pleted University Clearance form; and

(3) Benefit Claims form (click here to download the form).

Alternatively, if you do not have your Service Record or completed University Clearance yet, you may already request to receive the portion of your personal contributions simply by filling out our Benefits Claim form. Once you have submitted the Service Record and completed University clearance, the remainder of your Member’s Equity (i.e., UP contributions and your accumulated share in the earnings of the fund) will be disbursed to you in full.

Will there be deductions or fees if I won’t immediately claim my retirement or separation benefits?

Yes. Please note that if your Member’s Equity is not claimed within six (6) months from the date of retirement, resignation, or separation, monthly maintenance and dormancy fees will be charged to your account. This could reduce the total amount of benefits that you will receive.

Still, UP Provident Fund allows retiring or separating members who cannot submit the complete requirements yet to withdraw their member’s contribution. Please use the Benefit Claim Form to Withdraw Member’s Contribution in this case.

You will be allowed to withdraw the total of your member’s contribution and we will temporarily hold the release of your earnings and UP’s contribution — all of those will be disbursed to you upon submission of the complete requirements.


Can I withdraw my money anytime prior to retirement?

Yes, but you are only allowed to withdraw your personal contri­butions and earnings thereon (net of tax). You will also be charged a 10% withdrawal fee on the accumulated earnings. The counterpart contribu­tions from UP and earnings thereon can only be with­drawn upon separation from the University (that is, via retirement, resignation, or death).

Take note that withdrawal of your money is tantamount to termination of membership. This means all benefits accorded to you as a member of UP Provident Fund will cease.

To withdraw your money, simply fill out an application form for withdrawal and submit a photocopy of your UP ID.

Can I withdraw only a portion of my personal contributions?

No. Once you decide to withdraw your personal con­tributions, you must withdraw the entire amount in your account.

Please note that doing so is tantamount to termination of your membership with the UP Provident Fund. You will therefore lose all rights, benefits, and privileges given to members.

However, your accumulated UP contributions and earnings thereon will remain with the Fund and can be claimed upon separation from the University, subject to vesting rights.

Can I still become a member after withdrawing my contributions?

Yes, however, if you withdrew your membership on or after August 23, 2021, you may only reapply to become a member one (1) year after the date of your withdrawal. Also, you may only avail of loans one (1) year after the date of readmission. This is the new readmission policy approved by the Board of Trustees beginning August 23, 2021.

To summarize, you may only apply to become a member again one (1) year from the date of withdrawal and you may avail of loans one (1) year after date of readmission.

Members who withdrew before August 23, 2021 are not covered by this policy and may reapply for admission anytime and may avail of loans anytime after approval of membership.

To reapply for membership, fill out the membership application form and pay a readmis­sion fee of P500.

I used to be a member of UP Provident Fund. How can I withdraw my money?

If you retired, resigned, or separated from UP and no longer a UP employee, you may claim your Member’s Equity by submitting the required documents. Please view the FAQ question “What are the requirements so I can receive my money upon retirement or separation?”.

If you withdrew membership and no longer a member of UP Provident Fund but still an employee of UP, you may only withdraw your personal contribution. Please view the FAQ questions “Can I withdraw my money anytime prior to retirement?” and “Can I still become a member after withdrawing my contributions?”.

For more information, please contact UP Provident Fund and our staff will gladly assist you.

Where can I access a record of my Member’s Equity and loan transactions?

You may view these information in the Members Portal. Simply login using your UP Provident Fund Member’s ID Number and chosen password.

If you do not know or have forgotten these details, please contact UP Provident Fund and our staff will gladly assist you.