SSS announced today the launching of its Personal Equity and Savings Option (PESO) -fund. It is similar to the OFW's flexi-fund, with similar provisions.
It is voluntary, and is open to members who are below 55 and are paying the maximum contribution for SSS for SEVMs and OFWs. Employed members may join even if they are not at the maximum levels.
Benefits and Income are tax-free because this is earmarked for a retirement fund. CONTRIBUTIONS to the fund are NOT tax-free, unlike the PERA fund discussed a few years, but never flew.
Income is guaranteed because it is pegged to the T-bill rate, same as the flexi-fund.
Details will follow at a later post.
If readers will remember, Pag-ibig also announced a similar, if smaller program that may appeal to the smaller-income would-be investor. The Pag-ibig offer is also less restrictive. However, I have yet to compare possible incomes and growth of fund.
A comparative post of the Flexi-fund, P.E.S.O. - Fund, Pag-ibig, and PERA fund will follow at a later date.
If you read about it, and have questions. You can ask on this post.
NOTE: RIGHT NOW I AM SEEING CERTAIN DISCREPANCIES IN THEIR ANNOUNCEMENT. HENCE, I AM GIVING TIME TO CHANGE CERTAIN ITEMS BEFORE I START THE DISCUSSION.
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