Questions

Lahat ng miyembro ng UP Provident Fund na mag-aapply 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:

• Member’s Contribution
• UP Counterpart Contribution
• Earnings on Member’s Contribution
• 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 applicable
• -Maintenance and Dormancy Fees, if applicable
• =Net Proceeds of Separation Benefit

Net Proceeds = (Member’s Equity + Final Share in Income) − (Loan + Interest + Surcharge − Vesting Right − Withholding Tax − Maintenance and Dormancy Fees)

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 – 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***: 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)

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)

Mag-login sa ating UPPF 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.

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

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.

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

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.

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 – 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

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).

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.