Pension Reform: Mandatory Contributions Pushed

Posted Leave a commentPosted in articles

House Bill 9343 with the title, “An Act Expanding the Capital Market by Developing a Robust Institutional Investor Base, Strengthening the Regulatory Environment, and Promoting Financial Literacy, has been passed last June 2, 2021 by the House of Representatives which automatically elevates the bill to the Senate. Although the words Pension or Retirement are not […]

FAQ on the Tax Exemption of Retirement Benefits Under the Bayanihan Act 2 (BIR Revenue Regulations No. 29-2020)

Posted Leave a commentPosted in articles

1. Our company already has a BIR approved Retirement Plan; thus, retirement benefits are already tax exempt based on RA 4917. What are the advantages of the Bayanihan Act II? Under RA 4917, only employees who are at least 50 years of age with at least 10 years of service upon retirement will be able to […]