At some point, all employees and executives who are part of the labor force will eventually retire. According to research conducted by the SHRM (Society for Human Resource Management), the world’s largest HR membership organization committed to human resource management, one of the financial issues that employees face is saving for their retirement years. One […]
Retirement is inevitable. It is that special time for an employee to reap the rewards of years-long hard work and sacrifice. When carefully planned, a retirement plan is the key to financial security, building up a portion of one’s hard-earned money to be set aside for one’s senior years. As for companies, the Retirement Pay […]
Retirement plans are commonly set up to keep employees until the usual retirement age of sixty (60). However, as the working set up is consistently evolving with millennials making up today’s bulk of the working population, it is essential for organizations to take a unique approach. It has become quite a common knowledge that millennials […]
While almost every company offers a retirement plan, not a lot of them take a hands-on approach to retirement plan administration. Such a passive approach can lead to failure in conveying full plan features and options to their employees. As a result, many employees neither appreciate and participate in the plan nor, if they do, […]
Unless you are in denial or living under a rock, there is no denying that we are living in unprecedented times. Never has a single issue or phenomenon put an entire civilization into uncertain circumstances. Watching the news and just staying in the same spot for the past couple of weeks could take a toll […]
The recent ECQ implemented across the nation has caused a strain to many of our peers in human resources, finance, IT and the like. It is in times as such where those that support the business and operations side are asked to step up and go beyond the call of duty for the overall well-being […]
There was a time when working from home was just a vivid dream, but recently, there’s been a surge of jobs you can do from your own place. As the world becomes more connected, businesses can now explore work from home arrangements for their employees. People that aren’t on the work floor or do work […]
The new Labor Advisory No. 6 Series of 2020, was released last January 31, 2020 by The Department of Labor and Employment. It tackles the guidelines on the payment of Final Pay and Issuance of Certificate of Employment of an employee. Who can request for a Certificate of Employment? A previous or current employee may […]
Is your current retirement plan still relevant?
The Philippines has Republic Act No. 7641 (RA 7641), also known as the Retirement Pay Law.