about pensions

Last night, my hubby and I talked about one of his aunts whose husband died few years ago. He said that they once have a good life but now that the husband is dead, she's living a tough life now knowing that she only depends on his husband's pension funding which isn't enough for her and her three kids. Our simple conversation leads me to search for pension plans or funding available in the Philippines. I wonder why isn't there a website that simply tackles all about Philippines pension Funding? What I only search is about US Pension Funding. I wonder if this pension funding works the same with the pension policies in the Philippines. Can someone enlighten me please?

In my understanding, a pension can be created by an employer for the benefit of an employee but we don't have that benefit from our school. In Philippines, Labor unions, the government, and other organizations fund pensions. My hubby and I decided to take a look of Pension Plans in the Philippines when we get back home next year. We pray that we'll be God's instrument of applying for pension plans for our parents. It's nice to see them having financial stability during their old age.

Usually, pension policies are most suited for senior citizens but younger citizens could also apply for this to have a more secure future, so that you never give up on the best things in life. If I worked in a government school in Philippines, I may now have almost 10 years in the government service and have already funds for my pensions.

Based on my friends testimony we could get a lump sum pension like what his mother-in-law did . He said it's an excellent way to convert retirement asset into working cash to do the things you need to do post-retirement. On his mother-in-law's case, she started her own bookstore in the city and she put in the bank the remaining fund for later-in-life needs. You can click here for more information about availing a lump sum pension.

Is it possible to cash in your pension early? , I asked my friend who works in an insurance company. She mentioned "YES". In fact her co-worker who's still 40 years old cash in her pension to pay for her children's college tuition. One is on her senior year in his medical course and the other one is on her sophomore year as a nurse student.

I'm glad that I've learned a lot about pensions this week. It's time to pray and ask God's guidance on the right company where we could apply for pension plans for our parents and for ourselves too.