PRA NEWSLETTER_DECEMBER - Philippine Retirement Authority

Page 2PHILIPPINE RETIREMENT NEWSFrom the ChairmanAn agingpopulationp o s e shealthcare challengesto society. Thefacilities andhealthcare servicesneeded by a senior market are in sharpcontrast to medical systems currentlyin place. Increasing expenditures forsenior care can put a strain on a country’seconomy.Evident in a study, “As Asia’s PopulationAges, Worries Grow about the Future,’conducted by the East-West Center, is thegrowing demand for new retirementsystems. The report also emphasized theneed to revamp medical processes vis-à-visavailable resources, especially in the areasof financing and health care delivery.Although the report focuses entirely on theimplications of senior healthcare in Asiancountries, its findings cut across globalterritories.Cognizant of this trend, the PhilippineRetirement Authority (PRA) repositioned itsstrategy from a purely real-estate approach to ahealthcare-centric campaign. Providing healthand medical care to retirees is among PRA’s toppriorities.In a move to further strengthen the retirementindustry, PRA formed a team of researchersand lobbyists to look into the portability of USMedicare in the Philippines. PRA also fundedan in-depth research on medical tourism, incooperation with the Department of Tourism. Inaddition, the latest Accreditation Standards forRetirement Facilities released by PRA,specifically require “retiree friendly” nursinghomes, e.g. provisions for wide hallways;resilient and non-slip tiles and floorings; gradualaccess elevation for wheelchairs for twostorey facilities; grab and hand bars in thebathrooms; and mechanized equipment forbedridden retirees.Moreover, thousands of Filipino nursesacross the globe continue to prove thatthe country is the leading source ofhealthcare professionals. Not only havethey distinguished themselves ascompetent professionals, but asmanagers, hospital administrators andeducators. As a result, the Filipino hassecured his place in the globalhealthcare community.Happy Holidays!GM’s CornerAschool friend ofmine sent me anemail about babyboomers which I wouldlike to share with all ourretirees, friends, andassociates:THE TEN COMMANDMENTS FOR THOSE45 YEARS OLD AND OVER1. Focus on enjoying people, not onindulging in or accumulating materialthings.2. Plan to spend whatever you havesaved. You deserve to enjoy it and thefew healthy years you have left. Travelif you can afford it. Don't leave anythingfor your children or loved ones toquarrel about. By leaving anything, youmay even cause more trouble when youare gone.3. Live in the here and now, not in then,yesterdays and tomorrows. It is onlytoday that you can handle. Yesterday isgone, tomorrow may not even happen.4. Enjoy your grandchildren (if you areblessed with any) but don't be their fulltime baby sitter. You have no moralobligation to take care of them. Don'thave any guilt about refusing to baby sitanyone's kids, including your owngrandkids. Your parental obligation is toyour children. After you have raised theminto responsible adults, your duties ofchild-rearing and babysitting are finished.Let your children raise their own offspring.5. Accept physical weakness, sickness andother physical pains. It is a part of theaging process. Enjoy whatever yourhealth can allow.6. Enjoy what you are and what you haveright now. Stop working hard for what youdo not have. If you do not have them, it'sprobably too late.7. Just enjoy your life with your spouse,children, grandchildren and friends.People, who truly love you, love you foryourself, not for what you have. Anyonewho loves you for what you have willjust give you misery.8. Forgive and accept forgiveness.Forgive yourself and others. Enjoypeace of mind and peace of soul.9. Befriend death. It's a natural part of thelife cycle. Don't be afraid of it. Death isthe beginning of a new and better life.So, prepare yourself not for death butfor a new life with the Almighty.10. Be at peace with our Creator, for He isall you have after you leave this life.Season’s Greetingsto Everyone!

PHILIPPINE RETIREMENT NEWS Page 3PRA Accreditation GuideIn line with the needs of target retireemarkets, PRA has chosen to focus its effortson three sectors, namely housing, lifestyleservices and healthcare.Accreditation standards, based on the best ofUSA, Australia, and Canada models are used toevaluate, rate and continuously monitor facilitiesthat serve seniors. Endorsements foraccreditation approval from the combinedretirement industry stakeholders such as thePhilippine Retirement, Inc., the foreign chambersof commerce and PRA further ensure thehighest quality of retirement products andservices.The Authority has initiated a two-step process ofaccrediting retirement facilities: Approved Projectand Accredited Facility.This innovative process insures adherence to globalstandards that the senior population expect. By policy,PRA adheres to the United Nations Principles forOlder Persons, i.e., independence, participation, care,self-fulfillment, and dignity.Following are the requirements for Accreditation ofMarketers and Merchant Partners, respectively:FOR MARKETERS1. Common Requirements for Sole Proprietorship /Partnership /Corporationa. Application for Accreditationb. Bio-data of officers with 2 x 2picturesc. Accreditation Fee of US$300.00d. Business Name and Permit issued byDTIe. BIR Certificate of Registrationf. Mayor’s Permit/Business Licenseg. Marketing plan on how to promote thePhilippine foreign retirement programh. Contract with PRA2. Additional Requirements for Partnership orCorporationa. Board Resolution/Secretary’s Certificateregarding the application for accreditationas Marketer and the promotion of thePRA Program as one of its objectivesb. Articles of Incorporation and By-Laws3. Additional Requirements for Lawyer/Law Officea. Official receipt representing IBP membershipand PTRb. Experience in corporate law, immigration,real estate and/or condominium law(optional).FOR MERCHANT PARTNERS1. Common Requirements for Sole ProprietorshipPartnership /Corporationa. Application for Accreditationb. Bio-data of officers with 2 x 2 picturesc. Business Name and Permit issued by DTId. BIR Certificate of Registratione. Mayor’s Permit/Business Licensef. Memorandum of Agreement with PRAg. Audited financial statements forthe last three (3) years2. Additional Requirements for Partnership/Corporationa. Board Resolution/Secretary’s Certificateregarding the application for accreditationas Merchant Partner and the promotionof the PRA Program as one of itsobjectivesb. SEC Registrationc. Articles of Incorporation and By-Laws3. Additional Requirements for Lawyer/LawOfficea. Official receipt representing IBPmembership and PTRb. At least three years experiencein litigations involving corporatelaw, immigration, real estateand/or condominium law4. Additional Requirements for MedicalFacility, Hospital, or Clinica. DOH accreditationb. DOT accreditation as a medicaltourism facility, if applicable.5. Additional Requirement for Banks:Certificate of CAMEL rating of not lessthan 39 Dansalan Rd. corner Lipa St.,Philam Homes Quezon City 1104Tel. (63 2) 925-7577; 925-4961Website: www.philcarehome.comEmail: hernandelizo@themagazine.com

Page 4PHILIPPINE RETIREMENT NEWSNotes from the Editorby: Ethel N. RupaThe year isalmost over andwith it goes thelast issue of the seriesof maiden issues of thePhilippine RetirementNews. We trust thevery purpose in coming up with thisnewsletter was served and that is tomake available the much-neededinformation being craved for by our mostimportant partner - our retirees.Without you, PRA will not be what it istoday. The newsletter might not be whatyou expect it to be but we are notclosing our doors to your suggestions,for after all this is for you.We are not discounting the important roleof our other partners, but let us be one inour belief that it is for the retirees that weare all here developing the country’sretirement industry. Our concerted effortsshould focus on our retirees for them toreally stay and make the Philippines theirsecond home and eventually help in thepromotion of the retirement programbecause of the positive experience andservices that we can provide.The season of merriment is in the offing.We wish our partners, in advance, the bestof the holiday season. In so doing, let uspause, look back and take pride in ourachievements as we list new goals for2008. We enjoin our retirees and partners– our friends – to support PRA’sactivities lined-up for next year, and theyears to come. You can rest assuredof our commitment to continueproviding you with unparalleled service.PRA Inks MOA with AXACol. Fernando Z. Francisco GSC PA(Ret.), Philippine Retirement AuthorityActing General Manager, led the signingof the Memorandum of Agreement(MOA) with Andrew Alcid and IndrenNaidoo, AXA Life Insurance and InvestmentsPresident and CEO and ChiefFinancial Officer, respectively.Witnessing the contract signing were topexecutives from PRA and AXA, namelyMesdames Ethel N. Rupa, OIC for Marketing;Noehl D. Bautista, DivisionChief, Ads and Promotion Division; andLory E. Morgia, Division Chief and concurrentlythe Officer-in-Charge of thePRA Cebu Satellite Office, representedthe Authority. Present from AXA wereMessrs. Hamilton Macleod, ChiefAgency Officer; John Callo, ProductManager; and Elmira Esguerra, CebuBranch Manager who was designatedas the exclusive account lead for PRA.As an accredited merchant partner, AXAshall insure that their products shallhave no offshore components and limitedonly to bonds and equity stocks ofcorporations listed in the PhilippineStock Exchange. It shall also assist in thepromotion of the retirement program PRA,on the other hand, will assist AXA in thepromotion of their investment products andprovide AXA with PRA materials for freePRA is actively seeking merchant partnersto extend special package and/or discountsfor the retirees to make the programmore attractive. These companiesmust have a proven track record of excellentproduct and/or service for the lastthree (3) years in its area of business.Interested service providers may contactPRA at telephone number (632) 848-1412,fax numbers (632) 848-7106 and (632)848-1402 and thru email address: inquiry@pra.gov.phAXA MOA Signing from left AXA President and CEOAndrew Acid, AGM Fernando Z. Francisco PRA, ChiefFinancial Officer Indren Naidoo.BE PARTof thePHILIPPINE RETIREMENT NEWSGot a question?Tell us your concerns.Share your thoughts.Would you like to publish your photos?Your Calendar of Events? Yourpoem?Send your email to:The EDITORat email addressethel.rupa@yahoo.comWe’d love to hear from you.

PHILIPPINE RETIREMENT NEWSPage 5Retrospect 2007

PHILIPPINE RETIREMENT NEWSPage 7Rules on the Harmonization of Regular Deposit andthe Modified/Special Reduced Deposit Schemesursuant to Board resolution No. 92 seriesP of 2007 otherwise known as theharmonization of the old and new schemes ofdeposit, the following rules and regulationsare hereby promulgated to govern theimplementation of said option.RULE 1. DEFINITION OF TERMSFor purposes of these Rules, the followingterms used herein shall have the followingmeaning:a. Authority/PRA – refers to the PhilippineRetirement authorityb. Regular Deposit Scheme – refers to theold scheme of deposit applied toapplicants to the retirement programprior to 29 May 2006 with a minimumdeposit of US$ 75,000 for those whowere between the ages of 35-49 yearsor US$ 50,000 for those who were 50years old and over.c. Modified/Special Reduced DepositScheme – refers to the current schemeof deposit applied to applicants to theretirement program from 29 May 2006up to the present with a minimumdeposit of US$ 50,000 for those who arebetween the ages of 35-49 years orUS$ 20,000 for those who were 50years old and over.d. Conversion – refers to the option thatmay be availed of by the retirees totransform their Dollar Time Deposits intoan actual investment after a holdingperiod.e. Bank – refers to the local or foreignbanks accredited by PRA to accept andmaintain remittances and/or dollar/pesotime deposits of retirees tagged as PRAaccountsf. Management Fee – refers to the annualfee levied upon by PRA on the retiree inconsideration of the release of theamounts in excess of the requireddeposit under the Modified/SpecialReduced Deposit Schemeg. Withdrawal Clearance refers to thedocument issued by PRA necessary forwithdrawing amounts from bank accountstagged as PRA accounts unless theamount to be withdrawn refers to theinterest income in which case, a withdrawalclearance is no longer necessary.RULE 2. PERSONS COVEREDa. Principal retirees of the PRA retirementprogram who enrolled in the program underthe regular Deposit Scheme prior to 29May 2006 with a minimum deposit of US$75,000 for those who were between theages of 35-49 years or US$ 50,000 forthose who were 50 years and over.b. He/she desires to withdraw the wholeamount or a fraction thereof in excess ofthe required US $ 50,000/US$ 20,000under the Modified/Special ReducedDeposit Scheme depending upon the ageof retiree-depositor.c. He/She is willing to pay annually theamount equivalent to 1.5% of the amountwithdrawn as management feed. These rules shall not apply to memberretireesof the retirement program whoenrolled in the program prior to 29 May2006 and have converted/used their DollarPeso Time Deposit into active investmentsallowed under the program.RULE 3. PROCEDURE/DOCUMENTARYREQUIREMENTSSection 1. Letter of intent written and signed bythe concerned principal retiree stating thereinthat he is exercising the option to withdraw his/her excess deposit by reason of theharmonization of the old and new depositschemes and his/her willingness to pay theannual management fee equivalent to1.5% ofthe amount withdrawn.Section 2. The Letter of Intent must also state thespecific amount the retiree wishes to withdrawSection 3. Upon verification and approval ofPRA, the Authority shall issue the correspondingWithdrawal Clearance and shall be releasedsolely to the retiree or in special cases, his/her duly constituted representative, only uponpayment of the management fee.Section 4. The existing rules enforced byPRA on the release of the withdrawalclearance and the procedure to the followedafter receipt of the amount withdrawn unlessinconsistent with these rules shall be applied.RULE 4. TERMS AND CONDITIONSSection 1. Applicability. These rules shallapply only to member-retirees who enrolledin the PRA Retirement program under theRegular Deposit Scheme and has not availedof the conversion option of the program.Section 2. Retirees covered under thepreceding paragraph may be allowed towithdraw an amount equal to the differenceof the amounts deposited under the RegularDeposit Scheme and the required depositunder the Modified/Special Reduced DepositScheme.Section 3. Prior to the withdrawal of theamount mentioned in the precedingparagraph, the retiree shall be required topay PRA an annual management fee in anamount equal to 1.5% of the amountwithdrawn.Section 4. The withdrawal of the amounteither in US Dollar or Philippine Peso shall beoptional upon the retiree.RULE 5. OTHER PROVISIONSSection 1. Separability Clause. Theprovisions of this implementing Rules andRegulations (IRR) are hereby declared to beseparable, and if any provision or section ofthis (IRR) or application to any person orcircumstances should for any reason be heldinvalid or unconstitutional such invalidity orunconstitutionality shall not affect the otherprovisions or sections of this IRR.Section 2. Effectivity. This IRR shall takeeffect immediately after its publications.

Page 8PHILIPPINE RETIREMENT NEWSHealthwiseThe Cardio ComponentWhile cardiovascular exercise is an importantcomponent of any workout, ArleenCauchi, founder of Boomer Fitness Gym,warns her members against becoming dependenton the treadmill. Instead, occasionallyswitch from jogging to cycling to an ellipticalmachine. When running, go harder fora shorter distance on some days and slowerfor a longer distance on others. As a generalrule of thumb, you should be working hardenough to walk, but with some effort.Staying On Your FeetMaintaining balance is essential to aging gracefully.Nasty falls thatresult in broken hipsor fractured bonescan sideline even themost adventurousboomer. Luckily,improving balancecan be done in justa few moments athome. At home, putyour hand on the back of a chair--a wall willdo as well--and stand on one foot longenough to stay balanced. As you feel morecomfortable, progress to two fingers andthen none. of improving balance.Lean and StrongAge is particularly unkind to your muscles. In its40s, the body begins losing a quarter pound ofmuscle per year,which can increaseduring periods of lowphysical activity.Muscle strength isnot only flattering tothe physique, it'salso important to your long-term health since itleads to improved balance and joint stability aswell as stronger bones. Use weights, a resistantexercise band or a medicine ball for strengthbuilding exercises two days a week.Flexing The Grey MatterPhysical activity not only strengthens yourbody, it also boosts brain power crucial forpreserving memory as you age. Musclecontractions trigger the release of proteins thatstimulate the brain and encourage neurongrowth. Dr. Sheldon Zinberg, founder of theCalifornia-based gym chain Nifty After Fifty,recommends learning a new skill to increasebrain growth. Options include completingcrossword puzzles or becoming computerliterate.Powerful And CoordinatedAthletes rely on power training, or plyometrics, toprovide them with power, speed andcoordination. Boomers can incorporate thefundamentals into their workout to great effect.The Great OutdoorsWhether it's tennis, hiking, golf or cycling,there are a number of outdoor physical activitiesthat willincrease yourfitness level andimprove yourbalance,endurance,strength andpower. Theimportantthing toremember,though, is that there are limits on the intensityof your exertion. If you start to feel a consistentache, particularly if you have a history ofsprains, strains, breaks or pain, consultyour doctor.Loose and LimberMuscle and joint stiffness can provide an easyexcuse for those reluctant to start working out.It can also make even the simplest activitiesunpleasant. Dr. Sheldon Zinberg, founder ofthe California-based gym chain Nifty AfterFifty, says that boomers can achieveincreased flexibility by stretching daily inaddition to modified yoga twice a week.Stretching and yoga, says Zinberg,should be done to the point of discomfortinstead of pain. Check your local gym oryoga studio for older adult yoga andflexibility classes.

PHILIPPINE RETIREMENT NEWSPage 9How to Become a PRA Associate MemberSTATEMENT OF POLICYRA, in its desire to advance the “OplanP Green” and “Enroll a Friend” schemes,shall encourage and spur on the enrolment offoreign nationals and former Filipino citizensand inspire them to promote the PRA SRRVprogram and all retirement-related businessactivities in order to accelerate the growthand development of the Philippine RetirementIndustry.In this connection, PRA shall implement thefollowing Rules and Regulations in theenrolment of foreign nationals and formerFilipino citizens as Associate Members, toavail of the incentives provided for underBoard Resolution No. 101 series of 2007.DEFINITION OF TERMS“Authority” – shall refer to the PhilippineRetirement Authority (PRA).Associate Members – shall refer to formerFilipino citizens and foreign nationals (notclassified as restricted by BI and DFA) whoare issued the PRA (Associate Member)Card and Certificate of Participation.Fee – shall refer to the yearly membershipfee of $100 payable upon filing of theapplication to the PRA program as AssociateMember.Referral Fee – refers to the fiscal incentive for$250 to be paid to an Associate Member forevery successful SRRV enrollee (not toexceed from 4) referred to the PRA program.PERSONS ELIGIBLEa. He/She is at least 35 years old.b. Former Filipino citizens and foreignnationals not classified as restricted byBI and DFA.c. Tourists, non-immigrants and otherforeign nationals who are holders ofother visa categories issued by theBureau of Immigration.d. He/She is a holder of a valid foreignpassport and valid stay status.e. He/She is willing to comply with thefollowing requirements in order toqualify as Associate Member such as:e.1 PRA Application Form (with 2x2picture)e.2 Police and/or NBI clearancee.3 Medical Certificatee.4 Proof of monthly income of not lessthan $800 remitted to the Philippinesand application fee for $100These Rules shall not apply to holders of SRRVisa including their dependent spouse and/orchildrenINCENTIVESa. Qualified Associate Members shall beissued the PRA I.D. Card and Certificate ofParticipation and are entitled to thefollowing benefits, to wit:a.1 Free assistance from PRA on matterspertaining to:• Extension of visa with the Bureau ofImmigration• Application for local driver’s license• Application for Special Work Permit(SWP) or Alien Employment Permit(AEP), if necessary• Application for Business Permitincluding permits from BOI, SEC, BIRetc and other government agencies• Domestic Travels and Bookings• Other concerns with NGO, LGUs,including the Barangay Unit• Hotel Accommodations• Other concerns while staying in thePhilippinesb. Upon issuance of the PRA I.D. Card andCertificate of Participation, the AssociateMember shall likewise be issued theCertificate of Registration as an accreditedendorser of the PRA program authorizinghim/her to:b.1 Promote the PRA program both inlocal and foreign markets;b.2 Secure from PRA marketingcollaterals and other informationmaterials at no cost to the AssociateMember.b.3 Enroll relatives, friends, businessassociates or partners in the SRRVprogram;PROCEDURAL / DOCUMENTARYREQUIREMENTS / FEEApplications for Associate Membership shallbe submitted to PRA with the followingdocumentary requirements:1. Accomplished PRA Form2. Police clearance form the applicant’scountry of origin (to be authenticated bythe Philippine Embassy) or NBIclearance if the applicant is in Manila.3. Medical Certificate4. Proof of monthly income of not lessthan $800 remitted to the Philippines.5. Photocopy of the current passport withvalid stay status.The existing rules enforced by PRA on therelease of the “Marketer’s Fee” shall governon the payment of the referral fee except forthe submission of the Certificate ofAttendance which shall now be substitutedby a “Referral Form” to be accomplished bythe Associate Member and concurred by theSRRV applicant referred to the program.TERMS AND CONDITIONSApplicability. These Rules shall apply only toAssociate Members of PRA duly issued thePRA I.D. Card for Associate Members andCertificate of Participation.The I.D. Card and Certificate of Participationare valid for one (1) year and is renewableevery year thereafter at no cost to theAssociate Member.The referral fee for $250 shall be paid to theAssociate Member himself in Philippinecurrency less withholding tax.OTHER PROVISIONSSeparability Clause. The provisions ofthe Implementing Rules andRegulations (IRR) are hereby declaredto be separable, and if any provision orsection of this IRR or applicationthereof to any person or circumstancesshould for any reason be held invalidor unconstitutional such invalidity orunconstitutionality shall not effect theother provisions or sections of this IRR.Effectivity. This IRR shall take effect15 days from its date of publication.

Page 10PHILIPPINE RETIREMENT NEWSMayors Pledge Support to PRA Associate Member ProgramIn three separate historic events,PnP Gen. Edgar B. Aglipay (Ret),Chairman of the PhilippineRetirement Authority (PRA), forged aMemorandum of Agreement (MOA) withAngeles City Mayor Francis Blue BoyNepomuceno; Subic Olongapo MayorJames J. Gordon; and Cebu City MayorTomas M. Osmeña.Under the Memorandum of Agreement(MOA), the city governments of Angeles,Subic and Cebu will assist in thepromotion of PRA’s retirement packagesthru the Associate Member Program.The campaign is directed towardsencouraging former Filipino citizens andforeign nationals, in good standing, toactively market PRA’s Special ResidentRetiree Visa (SRRV) and otherretirement-related business activities.Certification of Participation, to endorsethe SRRV to friends, relatives andbusiness associates. To help disseminateinformation, PRA provides marketingcollaterals to Associate Members at nocost.Mayors Nepomuceno, Gordon andOsmeña are advocates of the program.To ensure its effective implementation, themayors unanimously provided PRA with anoffice in their local tourism councilpremises. Chairman Aglipay extended hisgratitude to Mayor Nepomuceno, MayorGordon and Mayor Osmena and theirpeople for their support. Aglipay said “Ourpartnership will further propel the growthand development of the Philippineretirement industry.”Associate Members are authorized,upon fulfillment of specific qualificationstandards to market the program. Theywill be issued a Gold Card to distinguishthem from the regular members andWith the signing of the MOA, PRA hasassigned one (1) staff each in Angelesand Subic to address the immediateconcerns of the city government as well aspotential applicants.What our Retiree’s SayKieshiTakayama(Japanese)SRRV No.M005775Ilearned about the PRA programthrough the website and I wasabsolutely happy and satisfied when Ibecame a member because the SRRVfits not just my personal but the wholefoundation as well. I like to reside in thePhilippines because of its spirituality andway of life. As a matter of fact, afterlearning about spiritualism, I lefteverything I earned in the U.S. behindand came here to administer ourfoundation called the “Academy of WorldHealing Foundation”.I will definitely encourage the program toall my relatives and friends and to allpeople who want a warm and relaxenvironment to come over here in thePhilippinesHiromi Chiba(Japanese)SRRV No.M007966He wasreferred byhis boss toreside, stay and in the Philippines. Atpresent, he is just residing in the countrySample PRA Associate Memberbut as well actively engaged with hisown business as fashion creator andlooking forward for its expansion.According to him, Philippines has a verygood climate, which makes it moreconvenient and easier. There are also alot of unique places where he can go to.As a member of the PRA RetirementProgram, he wants to recommend theprogram to other people especiallyamong his relatives and friends.

PHILIPPINE RETIREMENT NEWS Page 11Celebrating Christmas the Filipino Wayhe Philippines is the only Asian country rice delicacy which is steamed in bambooT where Christians predominate. Majority tubes, with brown sugar and coconut shavingsof its people are Roman Catholic. Christmas, as condiments), salabat (hot ginger tea) andtherefore, is an extremely important and tsokolate (thickrevered holiday for most Filipinos. It is atime for family, for sharing, for giving, and atime for food, fun, and friendship.Spanish cocoa).PAROLSIMBANG GABI The FilipinoChristmas would notFilipinos are proud tobe complete withoutproclaim theirChristmas celebrationto be the longest andmerriest in theworld. It beginsformally on December16 with attendance atthe first of nine predawnmasses calledSimbang Gabi ("Midnight Mass"). Thiscustom lasts for nine days, starting onDecember 16 up to December 24.Traditionally, the dawn masses were held at4:00 am. Today, there are Eucharisticcelebrations held at various hours in theevening.NOVENAThese nine dawn Masses are alsoconsidered as a Novena – the practice ofperforming nine days of private or publicdevotion to obtain special graces. Going toMass this early for nine consecutive daysshows the churchgoer's devotion to his faithand heighten anticipation for the Nativity ofthe Lord. The Filipino belief that God wouldgrant the devotee's special wish or favor,upon completing the novena.P U T OBUMBONG &BIBINGKAAfter hearingMass, Filipinofamilies partakeof traditionalPhilippineChristmas delicacies, either during breakfast athome or immediately outside the church, wherethey are sold. Vendors offer a wealth of nativedelicacies, including bibingka (rice flour andegg based cake, cooked using coals on topand under), puto bumbong (a purple stickythe traditionalPhilippine Christmassymbols and decorations. Though not strictly acustom, every Filipino homes and buildings areadorned with beautiful star lanterns, calledparol. It is the symbol of Christmas in thePhilippines, representing the guiding light, thestar of Bethlehem. It emits a warmthunparalleled among holiday adornments and isunique to the Philippines.BELENAnother traditionalFilipino Christmassymbol is theBelen – a crecheor tableaurepresenting theNativity Scene. Itdepicts the infantJesus Christ in them a n g e r ,surrounded by Virgin Mary, St. Joseph, theshepherds, their flock, the Magi, some stableanimals and angels. A notable outdoor belen inMetro Manila is the tableaux at the GreenhillsShopping Center in San Juan. It is a themedbelen, complete with lights and sounds andautomatons that make the figures move.CAROL OF THEBELLSChristmas isnever completewithout theFilipino andtraditionalChristmas carols.The young as wellas the old, take tothe streets, going house to house to serenadefamilies with Christmas songs. The carolerswait expectantly for the owner of the houseto reward them with coins.CHRISTMASEVEFor Filipinos,Christmas Eveon December24 is them u c h -anticipatedNoche Buena,the traditionalChristmas Eve feast after the midnightmass. Family members dine togetheraround 12 midnight on traditional NocheBuena fare, which includes: queso de bola(Spanish literally "ball of cheese"; edamcheese), "Tsokolate" (hot chocolate drink)and hamon (Christmas ham).PANUNULUYANIn different provinces and schoolsthroughout the Philippines, Catholicdevotees also reenact the journey of Josephand the pregnant Blessed Virgin Mary insearch of lodging for the soon-to-be bornJesus Christ. This is the traditionalPanunuluyan.CHRISTMAS DAYPrior to the ticking of 12 midnight onDecember 25, a mass called Misa deAguinaldo is celebrated. Attended by thewhole family, it signifies the Birth of JesusChristPAGMAMANOPreferably in themorning, Filipinofamilies visitmembers of theextended family,notably theelders andgodparents, in order to pay their respect. Thiscustom has been an age-old tradition in thePhilippines called Pagmamano, this is done bytouching one's forehead to the elder's handsaying Mano Po. The elder then blesses theperson who paid respect. Aguinaldo or moneyin the form of crisp, fresh-from-the-bank billsis given after the Pagmamano, most usually toyounger children.

Page 12PHILIPPINE RETIREMENT NEWSOFWS Can Now Be Accredited As Marketersursuant to Board Resolution No.104 seriesP of 2007 and the Memorandum ofAgreement (MOA) entered into by and betweenthe Philippine Retirement Authority (PRA) andNational Reintegration Center of OFWs(NRCO) under DOLE, the following rules andregulations are hereby promulgated to governthe implementation of the said policy.RULE 1. DEFINITION OF TERMSFor purposes of these Rules, the followingterms used herein shall have the followingmeaning:a. Authority – refers to the PhilippineRetirement Authority (PRA)b. NRCO – refers to the NationalReintegration Center of OFWs underDOLEc. OFW – refers to the Overseas FilipinoWorkers registered with either theOverseas Workers WelfareAdministration (OWWA) or PhilippineOverseas Employment Administration(POEA)d. Marketer – refers to an OFW authorizedto promote the PRA’s SRRV program andis entitled to a referral fee.e. Referral Fee – refers to the fiscalincentive paid to the OFW/Marketer forevery successful SRRV principal enrolleereferred to the PRA program.RULE 2. PERSONS ELIGIBLEa. Overseas Filipino Workers (OFWs)registered with either OWWA or POEAand endorsed by the NRCO.b. He/she is a holder of a valid Philippinepassport.c. He/ She is willing to attend a briefingseminar about the retirement program ofPRA as a prerequisite for the issuance of theCertificate of Registration.d. He/She is willing to comply with thedocumentary requirements for accreditationas a marketer, such as:d.1 Accomplished Information Sheetd.2 Resume / Bio data with 2x2 pictured.3 Letter Endorsement by the Office of theNRCO;d.4 Certificate of Registration or any othersimilar document issued by eitherOWWA or POEA.d.5 Bank Account in the name of OFWconcernedd.6 Letter/Authorization of OFW to depositreferral fee to his/her accounte. These Rules shall NOT apply to formerFilipino Citizens who have been naturalizedin a foreign country.f. RULE 3. PROCEDURAL/DOCUMENTARYREQUIREMENTSSection 1. The letter endorsement issued by theOffice of the NRCO recommending theaccreditation of an OFW as Marketer of the PRA’sSRRV program;Section 2. The letter recommendation must statethe profile of the OFW i.e. educationalbackground, years of experience as OFW,overseas assignments, skills, etc.Section 3. Upon verification and validation of thedocuments submitted to PRA, the authority shallissue the corresponding Certificate of Registrationas Marketer, which shall be released in personto the OFW concerned after being briefedabout the PRA program.Section 4. The existing rules enforced by PRAon the release of the Marketer’s fee shallgovern in the payment of the referral feeexcept for the submission of the Certificate ofAttendance which shall now be substituted bya Referral Form accomplished by the SRRVapplicant and endorsed by the OFW/ Marketer.RULE 4. TERMS AND CONDITIONSSection 1. Applicability. These rules shallapply only to OFWs registered with eitherOWWA or POEA, endorsed by NRCO andaccredited by PRA as Marketer.Section 2. The Certificate of Registrationissued to an OFW is valid for one (1) year andrenewable every year thereafter, at no cost tothe OFW.Section 3. The referral fee equivalent toUS$250.00 shall be paid to the OFW /Marketer himself or through his account in anyof the commercial bank in the Philippines.Section 4. The referral fee shall be paid inPhilippine currency less the withholding tax.RULE 5. OTHER PROVISIONSSection 1. Separability Clause. The provisionsof this Implementing Rules and Regulations(IRR) and declared to be separable, and if anyprovision or section of their IRR or applicationthereof to any person or circumstances shouldfor any reason be held invalid orunconstitutional, such invalidity orunconstitutionality shall not affect the otherprovisions or sections of this IRR.Section 2. Effectivity. This IRR shall take effect15 days from date of its publication.Subic Holiday VillasGeorge Dewey Convention Center ComplexSubic, Olongapo CityVilla Enrique

PHILIPPINE RETIREMENT NEWS Page 13Christmas Traditions Aroundthe WorldBETHLEHEMThe little town where Jesus is said to havebeen born is the site of the Church of theNativity, which is ablaze with flags anddecorations every Christmas. Christianhomes in Bethlehem are marked by across painted over the door and eachhome displays a homemade mangerscene.CHINAChristians in China celebrate by lightingtheir houses with beautiful paper lanternsand decorating their Christmas trees,which they call "Trees of Light," with paperchains, paper flowers, and paper lanterns.Chinese Children hang muslin stockingsand await a visit from Dun Che Lao Ren or"Christmas Old Man."CZECHOSLOVAKIAAn ancient tradition involves cutting abranch from a cherry tree putting it inwater indoors to bloom. If the bloomopens in time for Christmas it isconsidered good luck. The hope of earlyspring helps keep spirits up during thelong dark winter.ETHIOPIAEthiopia is one of the oldest Christiannations, having been converted in 330A.D. Ganna or Christmas, is a religiousday and a family day where little thought isgiven to commercial aspects of theholiday. The food for Christmas dinnerincludes injera, a sourdough pancakebread that is easily cooked over an openfire.GREAT BRITAINThe caroling, the gifts, the feast, and thewishing of good cheer to all create thespecial Christmas atmosphere. Thecelebration of Boxing Day, which takesplace on December 26, the feast of St.Stephen, is a part of the holiday seasonunique to Great Britain.INDIAChristians in India decorate mango orbanana trees at Christmas time.Sometimes they also decorate theirhouses with mango leaves.Festive Lights (Canada)Pasterka (Poland)Piňata (Mexico)Christmas Market (Germany)Sinterklaas (Netherlands)Original Manger at theChurch of the Nativity (Israel)Santa on Bikes (Korea)Julebukk (Norway)Young Carolers (Ukraine)Nacimiento (Spain)

Page 14PHILIPPINE RETIREMENT NEWSPRA Chief Meets with Over 5,000 BARP MembersSRRVisa Applications Now OnlineFrom December 4 onwards, retireescan now apply for the SpecialResident Retiree Visa (SRRV)online. The Philippine Retirement Authorityis introducing an online processingsystem, complete with downloadableforms, over its website www.pra.gov.ph.The development of the new PRA websitestarted as early as July and is aimedto be operational by December of thisyear. The goal is to create a site withfeatures and functions geared towardssimplicity and usability projecting anapproachable image for the PRA. Withthe mandate of PRA in mind, it is imperativethat its website needs to besynchronous.The PRA website will have the followingBAGUIO – More than 5,000 members ofthe Blessed Association of RetiredPersons (BARP) Foundation, Inc.welcomed Gen. Edgar B. Aglipay,Chairman of the Philippine RetirementAuthority (PRA).Aglipay represented Her ExcellencyPresident Gloria Macapagal-Arroyoduring the BARP General Assemblyheld last October 26-27 at the AthleticBowl, Burnham Park, Baguio City. Hemet with BARP President Prof. BenBalanag, together with officers of thefoundation, and presented the positiveoutlook for the global retirementindustry. He likewise discussed thefeatures and benefits of PRA’sretirement program.BARP membership is composed ofretirees and elderlies from BaguioCity, Ilocos, La Union, Pangasinanand the Cordillera Region. Itsorganizational thrusts are directedtowards “promoting a better quality offeatures, among others:Online facility for retirees to requestfor servicesOnline application for accreditationfor retirement projects,facilities, marketers, andmerchant partners.Visual display of accredited retirementfacilities, merchantpartners, and marketers.Online business matching of locallandowners, investors anddevelopers.PRA continues to provide innovative, quickresponseservice to retirees. SRRV onlinewill reduce the time-consuming manualfiling of documents and application forms.Further, the system allows qualified retireeswith an access to the internet to apply foran SRRV.BARP Officers welcome PRA Chair Edgar B. Aglipayin Baguio Citylife, respect for dignity, care andsharing, self-fulfillment anddevelopment of opportunities amongretirees and elderly and the communitywhere they reside.”Among BARP’s programs are theBotika ng Bayan, micro-financingfor livelihood, medical and dentaldiagnostic center, mutualassistance program and a physicalfitness program as well.Aglipay also took the opportunityto meet with Baguio hotel ownersand managers. He briefed thelatter on how to support PRA’sprograms.Life with a view.TAAL VIEW HEIGHTSTagaytay Ridge Homes

PHILIPPINE RETIREMENT NEWS Page 15Foreign Chambers Form Firm to Promotethe Philippine Retirement Industryiven upbeat talk on the retirementG business as possible niche for thePhilippines, foreign business chambersare getting on the bandwagon by forminga non-stock company to promote thecountry’s attractions.The American Chamber of Commerce ofthe Philippines, Inc. (AmCham), EuropeanChamber of Commerce of the Philippines,Inc. (ECCP), Korean Chamber ofCommerce, and the Japanese Chamber ofCommerce have secured Securities andExchange Commission approval to formInternational Chambers of CommerceRetirement & Healthcare Coalition, Inc.The firm, according to its Articles ofIncorporation, will “initiate, encourage andestablish points of cooperation and jointcollaboration” with the government andother sectors of society towardsundertaking programs and policies that will“Promote the country’s competitiveness inattracting foreign retirees and enhanceinward remittance of foreign exchange.”It aims to “stimulate awareness andencourage participation” in the developmentof retirement communities, medical centersand hospitals, leisure projects, vacationresorts, condotels, serviced apartments,and condominiums that all “incorporatethe health and wellness requirementsresponsive to the geriatric needs offoreign retirees who choose to spendand enjoy their years in thePhilippines.”The incorporators also include AmChamexecutive director Robert M. Sears, ECCPExecutive Vice President Henry I. Schumacher,Nobuo Fujii, Jaejung Jang and Virgilio D. C.Herce.“This initiative of four chambers is to makesure that we promote the Philippines as aretirement and healthcare haven. It is acommitment to the international community. Itis a demonstration of our long-termcommitment”, Mr. Schumacher said in aninterview.The firm will “encourage and liaise” withregistered operators of retirement facilities,leisure resort destinations, condominium amdhousing developers, hospitals, healthinsurance, transport and travel services, caregivingtraining schools, health maintenanceorganizations, financial institutions and otherservice providers nationwide.“[It will] undertake continuing research andgathering of data relevant to the development ofthis sector, including government regulations,bilateral issues between the Philippines and targetcountries, new products and technology, etc. anddisseminating the information through circulars,newsletters, exhibits, seminars andworkshops,” it said.It plans to acquire, accept donations,purchase, own, hold, develop, lease, mortgage,pledge, exchange, sell, transfer or invest, dealin or trade, real and personal property of everykind and description as may be necessary.The four organizations contributed to theinitial capital of the corporation.Mr. Schumacher said the group ispushing for a long-staying program, whichthe Philippines does not have yet, as thiswill “encourage people to stay here forthree to four months and test the market.In order to move forward, the Philippineshas to have a long-staying visa program.We are in discussion with the PhilippineRetirement Authority and Bureau ofImmigration. Everybody is willing to moveahead but we have to find a mechanismthat long-term visa will not be abused. Weare still looking at procedures,” he said. “Ourrecommendation is to allow foreignersinterested in testing the market to come tothe Philippines for three to four months andescape winter and realize this is the place toretire.”He also said the firm plans to have a menuof serviced apartments and condominiums.The group is still on a lookout for locationbut Mr. Schumacher said Cebu is a “verygood location, while Tagaytay, Clark andSubic have potentials.”PRA Chairman Edgar B. Aglipay haspreviously said that the Philippines wastargeting about 1.7 million Filipino-Americans who are expected to retire by2015.Reprinted from Business World Nov 9, 2007The ROYAL NORTHWOODSCoral na Bato, San Rafael, BulacanTel No. (02) 924.24.43/56Fax No. (02) 924.24.42Email: info@royalnorthwoods.comEmail: www.royalnorthwoods.com

Page 16PHILIPPINE RETIREMENT NEWSPhilippine Retirement Authority4/F Citibank Center, 8741 Paseo de RoxasMakati City, 1220 PhilippinesIf undelivered, please return to:P.O. Box 1147, Makati Central Post OfficePhilippinesPlaceSTAMPHERECUSTOMER NAMEStreet AddressCity Zip CodeRETURN TO SENDERMOVED OUTUNKNOWN ADRESSEEREFUSE TO ACCEPTINSUFFICIENT ADDRESSFORWARDING ADDRESSOTHERS___________________________________________________________________________________________________EDITORIAL BOARDPHILIPPINE RETIREMENT NEWSCol. FERNANDO Z. FRANCISCO (Ret.)Editor-in-ChiefETHEL N. RUPAManaging EditorROLAND S. CASALSLayout ArtistPhilippine Retirement AuthorityTel: (+63 2) 848-1412Facsimile: (+63 2) 848- 7106www.pra.gov.phEmail: inquiry@pra.gov.ph