InLife Retire Assure aims to take the guesswork out of retirement planning.
According to the Bangko Sentral ng Pilipinas, 80 percent of Filipinos aged 60 and up are not financially prepared to cover their living expenses once their employment ends.
The remaining 20 percent are covered by either the Social Security System (SSS) or the Government Service Insurance System (GSIS).
The average monthly pension for SSS is P5,123 and P18,525 for GSIS, which may not be adequate to sustain their lifestyle into retirement.
While the law requires companies to provide retirement benefits to their employees, they usually come with strict eligibility requirements.
Moreover, many workers today do not stay long enough in one company to qualify for retirement benefits.
As a result, Filipinos are not financially prepared for a life after retirement.
Denne historien er fra November 26, 2024-utgaven av The Philippine Star.
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Denne historien er fra November 26, 2024-utgaven av The Philippine Star.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
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