Retirement Claim

Frequently Asked

Questions

Lahat ng miyembro ng UP Provident Fund na maga-apply ng compulsory retirement, voluntary retirement, o separation from UP due to disability ay eligible makakuha ng retirement benefit claim.

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

i. Member’s Contribution
ii. UP Counterpart Contribution
iii. Earnings on Member’s Contribution
iv. Earnings on UP Counterpart Contribution

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

Ang computation para sa net proceeds ng retirement 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 if applicable
– Maintenance and Dormancy Fees, if if applicable
= Net Proceeds of Retirement Benefit

Ang inyong retirement claim sa Provident Fund 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 on Earnings**: 10% withholding tax charged against Earnings on Member’s Contribution and Earnings on UP Contribution, unless: (a) the member is separated from UP by reason of death; or (b) the member is aged fifty (50) years old or above AND has served UP for at least ten (10) years.

– Maintenance and Dormancy Fee***: Retirement benefits that are not claimed within six (6) months from the date of retirement 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 BOT, walang binabawas na Service Fee para sa processing ng retirement benefit claims.

*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)

Mag-login sa ating Members Portal para ma-access ang inyong account. Maaari ring kontakin ang aming mga opisina para magtanong kung magkano ang halaga ng inyong Member’s Equity.

I-submit ang mga requirement na ito sa aming mga opisina o gamit ang email para makuha ang inyong retirement benefit.

1. Benefit Claim Application Form
2. Complete University Clearance
3. Service Record indicating date of separation
4. Copy of two (2) valid IDs
5. Bank Deposit Authorization Form, if retirement claim will be deposited to a bank account
6. Proof of bank account showing account number, if retirement claim will be deposited to a bank account (example: screenshot of account number in mobile app or online banking or photo of ATM or Statement of Account that shows the account number. For your protection, do NOT send photos that display your account balances or other personal information such as PIN or CVV number.)

Maaaring i-download ang forms sa section sa ibaba.

Maaaring mag-apply ng retirement claim anytime na tapos na o kumpleto na ang requirements. Tandaan lamang na ipa-process ang inyong application at makukuha ang retirement benefit kapag officially retired na o separated na kayo sa UP.

Kapag kumpleto ang isinubmit na requirements, maaaring makuha ang inyong retirement benefit within two (2) days after the processing cut-off for the week.

Ibig sabihin, kung ang application ay nai-submit bago ang Monday 12 noon cut-off, makukuha ang retirement claim on Wednesday afternoon (except holidays and non-working days).

Kung ang application ay nai-submit pagkatapos ng Monday 12 noon cut-off pero bago ang Wednesday 12 noon cut-off, makukuha ang retirement claim on Friday afternoon (except holidays and non-working days).

Lahat ng application na natanggap ng aming opisina after Wednesday 12 noon cut-off ay ipa-process sa susunod na linggo kasabay ng Monday 12 noon cut-off at makukuha ang retirement claim next Wednesday afternoon.

Ang retirement benefit ay makukuha bilang tseke (check) na nakapangalan sa inyo. Kung nais matanggap ang retirement benefit bilang deposito sa inyong nominated bank account, mangyari pong kumpletuhin at isama ang Bank Deposit Authorization Form (download below) sa mga isa-submit na requirements sa aming opisina.

Hindi na po. Ang membership sa UP Provident Fund ay benepisyo lamang para sa mga empleyado ng UP na nasa active service at sumusweldo galing sa General Appropriations Fund o UP Income.

Mayroon kang dalawang (2) options kung sakaling extended ang service mo sa UP:

Option 1: Maaaring ituloy ang membership sa Provident Fund hanggang matapos ang extension. Ipaalam lamang ang desisyong ito sa aming opisina upang maireport sa UP Payroll at maituloy ang inyong contribution; o

Option 2: Maaari nang mag-file ng retirement benefit claim kung ayaw nang ituloy ang membership. Magpasa lamang ng requirements para ma-process ang inyong claim.

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, retiring or 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) * Accumulated UP Counterpart Contribution.

Makukuha pa rin ang net proceeds ng iyong retirement benefit, subject to the following policies:

Vesting Rights – retiring members with at least fifteen (15) years of service in UP can get the full amount of the accumulated UP Counterpart Contribution. Those 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.

Withholding Tax on Earnings – 10% withholding tax charged against Earnings on Member’s Contribution and Earnings on UP Contribution, unless: (a) the member is separated from UP by reason of death; or (b) the member is aged fifty (50) years old or above AND has served UP for at least ten (10) years.

Pinapayagan ang isang retiring o retired member na i-claim ang Member’s Contribution portion ng Member’s Equity kahit hindi pa kumpleto ang requirements.

Maiiwan sa Provident Fund ang iba pang portions ng Member’s Equity pero kapag na-kumpleto na ang pending requirements, makukuha ang naiwang halaga na naaayon sa mga polisiya ng benefit claim (tulad ng vesting rights, maintenance and dormancy fees, at withholding tax, if applicable).

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

1. Option to Withdraw Member’s Contribution form (download below)
2. Copy of University Clearance, with at least one valid signature except for Provident Fund
3. Copy of two (2) valid IDs

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).

Ayon sa polisiyang in-approve ng ating Board of Trustees, ang lahat ng retiring at 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 retirement benefit, ito ay sisimulang kaltasan ng P200 maintenance fee at P300 dormancy fee buwan-buwan.

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

Mainam na kumpletuhin agad lahat ng requirements para hindi mabawasan ang inyong account. Kung hindi pa nakukumpleto 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.

Application Process

Ihanda ang requirements.

1. Benefit Claim Application Form (download below)

2. Completed University Clearance

3. Service Record indicating date of separation

4. Copy of two (2) valid IDs

5. Bank Deposit Authorization Form (download below), if retirement claim will be deposited to a bank account

6. Proof of bank account showing account number (download below), if retirement claim will be deposited to a bank account (example: screenshot of account number in mobile app or online banking or photo of ATM or Statement of Account that shows the account number. For your protection, do NOT send photos that display your account balances or other personal information such as PIN or CVV number.)

Kung sakaling hindi pa kumpleto ang University Clearance o lahat ng requirements, maaari munang i-withdraw ang iyong Member’s Contribution. I-submit lamang ang mga sumusunod.

1. Option to Withdraw Member’s Contribution form (download below)

2. Copy of University Clearance, with at least one valid signature except for Provident Fund

3. Copy of two (2) valid IDs

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).

Step 1

Ihanda ang requirements.

1. Benefit Claim Application Form (download below)

2. Completed University Clearance

3. Service Record indicating date of separation

4. Copy of two (2) valid IDs

5. Bank Deposit Authorization Form (download below), if retirement claim will be deposited to a bank account

6. Proof of bank account showing account number (download below), if retirement claim will be deposited to a bank account (example: screenshot of account number in mobile app or online banking or photo of ATM or Statement of Account that shows the account number. For your protection, do NOT send photos that display your account balances or other personal information such as PIN or CVV number.)

Kung sakaling hindi pa kumpleto ang University Clearance o lahat ng requirements, maaari munang i-withdraw ang iyong Member’s Contribution. I-submit lamang ang mga sumusunod.

1. Option to Withdraw Member’s Contribution form (download below)

2. Copy of University Clearance, with at least one valid signature except for Provident Fund

3. Copy of two (2) valid IDs

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).

Step 1

I-submit ang required documents.

I-submit ang requirements sa aming opisina o ipadala ang mga ito gamit ang email. Bisitahin ang “Contact Us” page para malaman ang lokasyon ng opisinang malapit sa inyo o ang email address ng cluster office kung saan dapat ipadala ang inyong mga dokumento.

Step 2.

I-submit ang required documents.

I-submit ang requirements sa aming opisina o ipadala ang mga ito gamit ang email. Bisitahin ang “Contact Us” page para malaman ang lokasyon ng opisinang malapit sa inyo o ang email address ng cluster office kung saan dapat ipadala ang inyong mga dokumento.

Step 2.

Hintayin ang release ng tseke o deposit sa inyong bank account.

Maaaring makuha ang inyong retirement benefit within two (2) days after the processing cut-off for the week.

Ibig sabihin, kung ang application ay nai-submit bago ang Monday 12 noon cut-off, makukuha ang retirement claim on Wednesday afternoon (except holidays and non-working days).

Kung ang application ay nai-submit pagkatapos ng Monday 12 noon cut-off pero bago ang Wednesday 12 noon cut-off, makukuha ang retirement claim on Friday afternoon (except holidays and non-working days).

Lahat ng application na natanggap ng aming opisina after Wednesday 12 noon cut-off ay ipa-process sa susunod na linggo kasabay ng Monday 12 noon cut-off at makukuha ang retirement claim next Wednesday afternoon.

Step 3.

Hintayin ang release ng tseke o deposit sa inyong bank account.

Maaaring makuha ang inyong retirement benefit within two (2) days after the processing cut-off for the week.

Ibig sabihin, kung ang application ay nai-submit bago ang Monday 12 noon cut-off, makukuha ang retirement claim on Wednesday afternoon (except holidays and non-working days).

Kung ang application ay nai-submit pagkatapos ng Monday 12 noon cut-off pero bago ang Wednesday 12 noon cut-off, makukuha ang retirement claim on Friday afternoon (except holidays and non-working days).

Lahat ng application na natanggap ng aming opisina after Wednesday 12 noon cut-off ay ipa-process sa susunod na linggo kasabay ng Monday 12 noon cut-off at makukuha ang retirement claim next Wednesday afternoon.

Step 3.

Forms

Benefit Claim Application Form

Bank Deposit Authorization Form

Option to Withdraw Member’s Contribution Form