Pension Plans
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Pension Plan Work
AMAPP speaks of pension programs which are designed to assist the plan holder in securing his future by planning ahead. A pension program is defined by the term or the number of years in which a planholder will have to invest and the maturity date wherein the benefits provided by the plan are due the planholder with the date when the planholder tendered his first payment as date of reckoning.
Benefits
The benefits due upon maturity are expressed in units with one (1) unit corresponding to a Ten Thousand Pesos (P 10,000) benefits. Therefore, a planholder who purchases 10 units of pension plan shall be entitled to a total benefit of One Hundred Thousand Pesos (P 100,000).
