2009 - Philippine Retirement Authority

MANDATE
The Philippine Retirement Park System (PRPS) was created in July 4,
1985 by Executive Order 1037. It aims to primarily promote and
develop the Philippines as a retirement haven with the intent of
providing intensified inflow of foreign exchange into the country,
generate employment opportunities, promote the country abroad
as a tourism destination and make use of idle assets of the
government and the private sector into tourism facilities. The PRPS
was originally under the direction and supervision of the Office of
the President. On July 30, 1985, the PRPS Board of Trustees
approved and changed the corporate name to Philippine
Retirement Authority (PRA). Through EO 26 dated August 31, 2001,
supervision was transferred to the Department of Trade and
Industry-(Board of Investments). The Tourism Act of 2009 (RA 9593)
then transferred the supervision of the PRA to the Department of
Tourism.
Executive Order 1037 mandates the PRA to (a) develop and
promote the country as a retirement haven (b)adopt an
integrated approach in the development or establishment of
retirement communities in the country, (c) provide the
organizational framework to encourage foreign investment into the
PRA’s projects, (d) provide effective management and supervision,
regulation and control in the development of retirement
communities in the country and in the organization and
management of the PRA projects and (e) make optimum use of
existing facilities and assets of the government and the private
sector.
VISION
Make the Philippines a globally competitive and preferred
retirement destination in Asia.
MISSION
Provide excellent and world class services centered towards
customer-valued quality of life that is easy, pleasant and beneficial
to foreign retirees and global Filipinos, as a channel of accelerating
the socio-economic development of the country.
2

Board of Trustees
(2009)
Ex-Officio Members
Hon. Peter B. Favila
Chairman, PRA Board of Trustees
Secretary, Department of Trade & Industry (DTI)
Hon. Armin B. Raquel Santos
Vice Chairman & CEO, PRA Board of Trustees
Governor, Board of Investment (BOI)
Hon. Joseph Ace H. Durano
Member, PRA Board of Trustees
Secretary, Department of Tourism (DOT)
Hon. Marcelino C. Libanan
Member, PRA Board of Trustees
Commissioner, Bureau of Immigration (BI)
Hon. Amando M. Tetangco, Jr.
Member, PRA Board of Trustees
Governor, Bangko Sentral ng Pilipinas
Representative / Alternate Board of Trustees
Hon. Edgar B. Aglipay
Chairman, PRA Board of Trustees
Hon. Juan J. De Zuniga
Member, PRA Board of Trustees
General Counsel, Bangko Sentral ng Pilipinas
Hon. Enrique B. Galang
Member, PRA Board of Trustees
Associate Commissioner, Bureau of Immigration
Hon. Estanislao R. Canta
Member, PRA Board of Trustees
OIC, Bureau of Immigration – Makati Extension Office
Hon. Evelyn R. Cajigal
Member, PRA Board of Trustees
Director Legal Services, Department of Tourism
Hon. Edward P. Buenaflor
Corporate Secretary
3

I am pleased to present the Philippine Retirement Authority’s 2009
Annual Report which contains the major accomplishments as well
as financial and performance highlights of the office.
2009 was a year of many challenges. The global financial crisis
posed a bleak economic scenario for many countries, the
Philippines included. While the uncertainty of the times has
compelled us to establish a more conservative target, we still
continued to aggressively market the retirement program in various
places, locally and internationally through various forms of media.
On the Human Resources aspect, our staff has received continuous
trainings related to management, marketing, finance and personal
awareness. Improved office equipment for telephone, computer
system and software has likewise been installed.
Improved policy formulation and product development will
continue to be a priority for the Authority in order to enhance the
retirement program and to make it more competitive over our
Asian counterparts.
Our partnership with our private sector and key government
agencies has been strengthened in order to provide a holistic
approach to retirement. Through this, our efforts in promoting
tourism and retirement areas in various cities in different regions will
hopefully lead to more economic activities that would benefit our
country as a whole.
As we celebrate our 25th year anniversary, we look forward to the
coming years with much excitement and hope, as we work hard
towards achieving a booming retirement industry of the country.
REYNALDO DE LEON LINGAT, CSEE
Acting General Manager
4

The PRA is a government-owned and controlled corporation created
by virtue of Executive Order No. 1037, and signed by then President
Ferdinand E. Marcos on July 4, 1985.
On August 31, 2001, through Executive Order No. 26, the control and
supervision of PRA was transferred from the Office of the President to
the Board of Investments (BOI).
In 2006, President Gloria-Macapagal-Arroyo declared the Philippine
Retirement Industry as a “Key Flagship Project” and designated
former Chairman Gen. Edgar B. Aglipay as Retirement Czar.
On May 12, 2009 Republic Act No. 9593, the National Tourism Policy
Act of 2009, was signed into law making the PRA an attached
agency of the Department of Tourism (DOT).
5

I. Organizational Structure
II. Performance Highlights
A. Resident Retirees’ Servicing Center
B. Marketing Department
C. Management Service Office
D. Administrative & Finance
Department
E. Audited Financial Statement
F. Satellite Offices
III. Industry Partners
6

7
PHILIPPINE RETIREMENT AUTHORITY
ORGANIZATIONAL STRUCTURE
REYNALDO DE LEON LINGAT, CSEE
GENERAL MANAGER (ACTING)
DEPUTY GENERAL MANAGER
THELMA N. RUPA INTERIM
SPECIAL PROJECT AND REVIEW
OFFICE 1
LORETO E. MORGIA
OIC
ADMINISTRATION & FINANCE
DEPARTMENT
ORLANDO H. HABITAN
OIC
MANAGEMENT SERVICE OFFICE
NOEHL D. BAUTISTA
OIC
MARKETING DEPARTMENT
PHILIP JOHN B. MORENO
OIC
RESIDENT RETIREE SERVICING
CENTER
LEONARDA M. GARCIA
INTERIM SPECIAL PROJECT AND REVIEW
OFFICE 1
TERESITA C. AGANAN
OIC
ADMINISTRATION DIVISION
IRMA S. LAPPAY
OIC
CORPLAN DIVISION
NAZARETH DELAS ALAS
OIC
ADVERTISING& PROMOTIONS
DIVISION
ANNALYN A. ERIA
OIC
PROCESSING DIVISION
EVELYN R. TANSIONGCO
OIC
FINANCE DIVISION
PEDRO S. DEL ESPIRITU
OIC
MIS DIVISION
SCARLET L. LACHICA
OIC
CLIENT RELATIONS DIVISION
MARCELINA T. CARBONEL
OIC
SERVICING DIVISION1
ERIC DE AUSEN PATI
OIC
BAGUIO SATELLITE OFFICE
ELMA A. CORBETA
OIC
CEBU SATELLITE OFFICE
CARLO PONTI T. ZIALCITA
OIC
CLARK/SUBIC SATELLITE OFFI
CE
JAIME B. LLAMES
OIC
DAVAO SATELLITE OFFICE

Community Integration with Retiree-members
Airport Greet-and-Assist Program
Movie watching and discussion
Gateball games
Fellowship activities
Assistance to retirees on transactions with government agencies
Assistance on unique problems/concerns
Survivor assistance
Conflict resolution assistance
Reduce Processing time of SRRV Applications
Implemented the Tracking System using the Time Motion Sheet
thereby calculating the time flow for SRRV application from the time
the applicant submits the complete documentary requirements up to
the approval of the SRRV by the Bureau of Immigration (BI).
Coordinated and opened line of communication with the BI and
other government agencies such as National Bureau of Investigation
(NBI), and Department of Foreign Affairs (DFA).
Shortened period of review, verification and processing of
documentation for endorsement.
Initiative Cultural Orientation
Conducted cultural orientations on what to expect in the Philippines
to new retirees prior to their taking the Oath of Affirmation.
Maximize Website Utilization
Posting of bi-monthly bank interest rates and updating of accredited
banks.
9

2009 Monthly Enrollment of PRA Retirees
Principal S/D Total
population
200
180
160
140
120
100
80
60
40
20
-
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
month
Enrollment
2009 Principal S/D Total
Jan 85 61 146
Feb 75 56 131
Mar 106 79 185
Apr 80 67 147
May 65 41 106
Jun 83 55 138
Jul 94 86 180
Aug 92 85 177
Sep 92 69 161
Oct 81 72 153
Nov 91 73 164
Dec 67 34 101
Total 1,011 778 1,789
The table above and the graph on top depict SRRV enrollment figures
dissected by principal and spouse/dependent month by month for the
year 2009. The biggest increase was posted in March dominated by
PROC nationals retiring for the annual Chinese New Year.
10

Top 10 Nationalities 2009
41.92%
1.51%
9.22%
1.90%
2.07%
3.63%
2.40%
5.09%
8.55%
8.61%
15.09%
Chinese (PROC) Korean Am eric an Japanese
Chinese (T aiwan) British Australian Chinese (HK)
Germ an Indian Others
Nationalities Principal Spouse/dep TOTAL Percentage
1 Chinese (PROC) 327 423 750 41.92%
2 Korean 111 159 270 15.09%
3 American 124 30 154 8.61%
4 Japanese 124 29 153 8.55%
5 Chinese (Taiwan) 54 37 91 5.09%
6 British 56 9 65 3.63%
7 Australian 34 9 43 2.40%
8 Chinese (Hong Kong) 17 20 37 2.07%
9 German 27 7 34 1.90%
10 Indian 13 14 27 1.51%
Others 124 41 165 9.22%
T O T A L 1,011 778 1,789 100.00%
The table above and the chart on top depict the top 10 nationalities
comprising SRRV holders for the year 2009
11

Top 10 Nationalities since 1987
2%
1%
10% 27%
3%
2%
3%
5%
22%
9%
16%
Chinese (PROC) Korean Chinese (T aiwan) Japanese
Am eric an Chinese (HK) British Indian
Am eric an (FF) Germ an Others
Nationalities Principal Spouse/dep TOTAL Percentage
1 Chinese (PROC) 2,283 3,487 5,770 27.22%
2 Korean 1,901 2,805 4,706 22.20%
3 Chinese (Taiwan) 1,456 1,992 3,448 16.26%
4 Japanese 1,395 410 1,805 8.51%
5 American 721 286 1,007 4.75%
6 Chinese (Hongkong) 371 260 631 2.98%
7 British 428 149 577 2.72%
8 Indian 233 270 503 2.37%
9 American (FF) 307 76 383 1.81%
10 German 226 91 317 1.50%
Others 1,319 734 2,053 9.68%
T O T A L 10,640 10,560 21,200 100.00%
The table above and the chart on top depict the top 10 nationalities
comprising SRRV holders since the year 1987
12

Massive marketing campaign to enroll retirees
Presence in Philippines Domestic and International Airports
Tourists arriving from and leaving for other countries and to the different
Philippine tourist destinations via the international and domestic airports
are provided materials such as flyers in standees and tarpaulin/banners
conspicuously displayed inside the premises of the international and
domestic airports including the concierge, airport lounges, arrival and
departure areas and DOT kiosks.
In the Cebu, Davao and Ninoy Aquino terminal 1 airports, flyers are placed
in the DOT counters. Banner displays may be seen in the Caticlan, Davao
and Cebu arrival areas. For the Davao airport, PRA has a desk rented out
to welcome arriving and for bidding farewell to departing tourists and
retiree members.
Our advertisements in inflight magazines may also be seen in the airline
lounges and airplane seat pockets. Our advertisement in the Philippine
magazines which are distributed freely may be seen in the DOT kiosks and
airport concierge.
Tour Operators and Travel Agencies’ Collaboration
To strengthen collaboration with tour operators and travel agencies PRA
participates in group presentations such as expos that showcase the
Philippines as a whole. PRA is a member of the Philippine Travel Agencies
Association (PTAA) and National Association of Independent Travel
Agencies (NAITAS).
Several local and international tour operators and travel agencies have
been accredited as merchant partners and marketers for a wider reach of
clientele.
Presence and Saturation of Tourist Destinations
Baguio City, Angeles City, Olongapo City, Tagaytay City and Davao City
are the focal areas PRA initially included and made as partners through
the Local Integration Retirement Areas (LIRA) System. PRA has signed
Memoranda of Agreements (MOAs ) with the local government units (LGUs)
and different industry associations and individual players.
13

Boracay has been tapped through the assistance of the Boracay Elite
Foundation which consists of almost all the resort and restaurant owners
in the area.
Improvement of Multi-National Corps, International Organizations
Like the Asian Development Bank (ADB), PRA has worked for a regular
meeting with the Government Liaison Officers of the different
international organizations in the country. A briefing is held at the ADB
and International Rice Research Institute (IRRI) at least once a year.
Information material are sent quarterly to the different international
organizations and multi-national corporations for their awareness
Enhance Tri-Media Exposure
The Authority in collaboration with the government channel NBN 4 has
continuously invited PRA to disseminate information to their televiewers
thru its different shows on TV and radio.
NBN in partnership with the Korean Broadcasting System (KBS) came up
with a documentary on the lives of the retiree members living in the
Philippines. This documentary film is being shown regularly in Channel 13
and has been shown in both Korea and Japan.
PRA has likewise been allowed free advertising by provincial stations
through interview conducted with officers and officials of its regional
base offices.
There are regular PRA advertisements made in publications catering to
foreign nationals – What’s on Expat, Foreign Post, Ilyoshimun, Manila
Shimbun, World News and Primer.
Enhance Partner Collaboration
The Accreditation Guidelines of PRA for the accreditation of partners
(merchant facilities, service providers and marketers) is currently being
enhanced to include additional fiscal and non-fiscal incentives.
14

Build-up Collaboration with Private Sectors
PRA has been working closely with the Philippine Retirement Incorporated
(PRI), the private counterpart of PRA in promoting the Philippines. PRI is
composed of different stakeholders that have invested and become part
of the retirement industry.
Close coordination and collaboration with the different foreign
embassies/consulates, chambers of commerce and associations’ being
done to ensure that these groups will support PRA by disseminating
information material to their respective members.
Client Relations Division
Table of Activities 2009
BRIEFINGS
In-House 04 PRA Office
Foreign Associations and Foreign
Chambers
29
Sales Blitz
Philippine Airports’ Officers 16
Government Agencies
Private Agencies 22
SALES MISSIONS
Local Sales Mission 29
International Sales Mission 01 Europe (The Netherlands, Germany,
Czechoslovakia, Austria, Italy, France, United
Kingdom)
15

EVENTS
Events Participated 34 Trade and Travel Fairs, Expos, Golf & other
Sponsorships
COREX– 3 rd Philippine International Tourism Fair 2009
4 th INTERNATIONAL TOURISM & TRADE EXPO 2009
4 th Mindanao Travel and Tourism Expo (MTTE)
4 th TravelXchange 2009 as Exhibitor
14 th NREA-HUDCC National Housing Convention and Trade Exhibits Exhibitor
16 th Travel Tour Expo 2009
2009 18 th North Luzon Area Business
2009 ANNUAL NATIONAL CONVENTION
2009 PHILIPPINE REAL ESTATE FESTIVAL
SHDA 2009 National Developers’ Convention
Asia’s Gaming and Entertainment plus Leisure Expo Manila 2009
NORTH PHILIPPINES TOURISM AND TRAVEL EXPO ’09
SIBIT-SIBIT FESTIVAL 2009
WORLD ENTREPRENEUR EXPO
3 rd NPVB-BCVB Fun Golf
GM Mark T. Lapid Golf Tournament
OSHDF Annual Golf Tournament
SHDA Golf Tournament
Gentleman’s Cup – Heart & Golf 2009
Real Estate Brokers Association of the Philippines - Bacolod Chapter
8 th Annual Asian Forum on Corporate Social Responsibility
Housing Fair Plus 8T para sa KINABUKASAN – CREBA Davao Chapter
DAVAO DEL SUR INVESTMENT FORUM
20 th Philippine Travel Mart
LIFESTYLE EXPO
Peñafrancia Golf Tournament
iRemit Golf Cup 2009
Membership/Fellowship Cocktails Night Meeting
VFW Post 9892’s Eighteenth Annual Chili Cook Off
Event Organized 01 Anniversary Celebration with Retirees
16

MARKETER ACCREDITATION
Accreditation Fee Total Amount
Marketers Accredited 79
New 29 x US$300.00 US$ 8,700.00
Renewal 70 x US$150.00 US$ 10,500.00
ID Cards processed with additional
fee 32 x PhP300.00 PhP 9.800.00
Total No. of Principal Enrollees 1,011
No. of Principal Retirees enrolled by
Marketers 714
No. of Marketers that enrolled
Retirees 85
TOP MARKETERS
WINPLEX CONSULTANTS PHILS., INC.
MRL DOC & PROC SVCS
MARY JANE GOMEZ VISA CONSULTANCY
MADANGBAL,INC.
CEBU FLOSPB MANAGEMANT & CONSULTANCY
SERVICES
ANGELES INTERNATIONAL TRAVEL CENTER INC.
DACODION INT'L TRAVEL CORP.
HUA XIA CONSULTANCY SVCS
RJ VISA IMM CONS SVCS AGENCY
EMPIRE INT'L TRAVEL & TOURS
NOBEROSE DOCUMENTATION & CONSULTANCY
SERVICES
PRA MARKETING SERVICES (360 MEDIA INC.)
MSA MARKETING
RAH RAH PHIL. RETIREMENT SERVICES
AMJ DOC. CONSULTANCY
(application fee)
x US$1,400.00
51
46
31
27
21
18
18
18
17
16
16
16
15
15
14
US$999,600.00
Chinese
Chinese
Japanese
Korean
Japanese/Korean
American
Chinese
Chinese
European
Chinese
Chinese
Chinese
Chinese/Taiwanese
Chinese
Chinese/Korean/American
Chinese
17

FACILITY ACCREDITATION
Accreditation Fee Total Amount
Facilities Accredited 20
New 15 x US$250.00 US$ 3,750.00
Renewal 5 x US$125.00 US$ 625.00
MERCHANT PARTNER ACCREDITATION
Merchant Partners Accredited 79
Category
Activity Services
Caregiving Services
Dental Services
Financing
General Eng. Services
Goods
Health & Wellness
Health Insurance
Hotel/ Resort Accommodation
Laundry Services
Legal Services
Manpower Services
Medical Services
Pharmaceuticals
Real Estate Broker
Recreation
Transportation/Relocation
Travel & Tours
Visual & Performing Arts
1
1
5
1
1
1
6
1
26
1
3
1
6
1
2
3
2
16
1
18

LOCAL INTEGRATED RETIREMENT AREA (LIRA) PROGRAM
PROVINCES LGU/ NGA/ GOVERNMENT ORG ESTABLISHMENTS
DAVAO (SAMAL
ISLAND)
SAMAL ISLAND
IGACOS CHAMBER OF COMMERCE &
INDUSTRY
DAVAO DEL NORTE PROVINCIAL
TOURISM COUNCIL
SAMAL ISLAND DAVAO RESORTS
OWNERS ASSOCIATION
DAVAO DEL NORTE ELECTRIC
COOPERATIVE
DEPARTMENT OF TOURISM
DEPARTMENT OF TRADE & INDUSTRY
PHILIPPINE NATIONAL POLICE
PROVINCE OF DAVAO DEL NORTE
SAMAL COMMUNITY HOSPITAL
SAMAL WATER DISTRICT
BALI BALI BEACH RESORT
PUNTA DEL SOL
LANDCO PACIFIC CORP.
KEMBALI COAST
COSTA ALEA
HOLIDAY OCEAN VIEW
PRECIOUS GARDENS
CONDOMINIUM
RJP REALTY CORPORATION
SAMAL MEMORIAL GARDEN
CEBU
CITY GOVERNMENT OF CEBU
CEBU INVESTMENTS PROMOTION
CENTER
CEBU CHAMBER OF COMMERCE &
INDUSTRY
DEPARTMENT OF TOURISM
CEBU DOCTORS UNIVERSITY
HOSPITAL
DENTAL IMPLANT & MULTI-
DISCIPLINARY CLINIC
SHANGRILA'S MACTAN RESORT
& SPA
OIKONOMOS INTL RESOURCES
CORP ( HILTON CEBU RESORT &
SPA )
JECO DEVT. (SHERIDAN BEACH
RESORT & CONVENTION
CENTER)
MARIBAGO BLUEWATER BEACH
RESORT
CROWN REGENCY HOTEL &
TOWERS
MICROTEL GRAND RESORTS
MACTAN
ABOITIZ LAND
FUENTE TRAINGLE REALTY
DEVELOPMENT
SYNTECH PROPERTIES INC
MYVAN PROPERTIES INC
BOHOL HOMES INC
MIRA NILA CORP
OPTIMUM GLOBAL LOGISTICS
SERVICES
AGS FOUR WINDS PHILIPPINES
INC
AMAZING SHOW
EASY TRAVEL
CLUB FILIPINO INC DE CEBU
19

LOCAL INTEGRATED RETIREMENT AREA (LIRA) PROGRAM
PROVINCES LGU/ NGA/ GOVERNMENT ORG ESTABLISHMENTS
BAGUIO
BAGUIO-BENGUET CHAMBER OF
COMMERCE & INDUSTRY INC
BLESSED ASSOCIATION OF RETIRED
PERSONS (BARP ) FOUNDATION, INC.
METRO BAGUIO LABORATORIES
GOSHEN LAND CAPITAL, INC.
KATHLEA HOMES, BUILDERS &
REALTY DEV'T CORP
VILLA AGANA SUBDIVISION
PINE CITY DOCTORS' HOSPITAL
NOTRE DAME DE CHARTRES
HOSPITAL
CAMP JOHN HAY DEV'T CORP
TARTLAND BAGUIO PASARABO
C & TRIPLE "A'" SUPERMART
MELODY'S APARTELLE
BAGUIO NEW CITY
SUPERMARKET,INC.
TIONG SAN SUPERMART
HOTEL VILLA ROSAL
ALPA - PCM, INC
MARCON'S BUILDER
421 MARKETING & BUILDERS
GOLDEN PROPERTY VENTURES
PRIME PEAK PROPERTY LTD., INC.
REALEZA DEVELOPMENT
CORPORATION
KRISTOFFE BENEDICTS
PHARMACY
ST PETER LIFE PLAN, INC.
REGINA CAPITAL DEV'T CORP.
ST LOUIS UNIVERSITY
EDEN'S KNITTED WEAR
SUNSHINE SUPERMARKET
BAGUIO METROMART
ESTEPA RESIDENTIAL HOMES, INC.
GILBERTO'S VACATION HOUSE
HOTEL VENIZ
SOLIBAO RESTAURANT
BAGUIO COUNTRY CLUB
JESNOR RESOURCE & DEVT CORP
PRIME HOTEL
BAGUIO MARKET VENDORS ASSO.
NARDA'S HANDWOVEN ARTS &
CRAFTS
20

Advertising and Promotions Division
Table of Activities 2009
MEDIA EXPOSURE
THRU INTERVIEWS
PARTICULARS
FREQUENCY
1. PRINT INTERVIEW Korea Times Correspondent (International) 1x
Manila Times (Local)
1x
Blue Blood Magazine (Local)
1x
2. TV INTERVIEWS Chinese Media Group (International) 1x
NBN Channel 4 (Local)
1x
PEP TV Clark (Local)
1x
TV Davao (Local)
1x
ABS-CBN (Local)
1x
Japanese Media (International)
1x
MEDIA EXPOSURE THRU PRINT
FREQUENCY
White Pages Telephone Directory Advertisement of 2009-
2010 Metro Manila Directories Monthly 12
AMCHAM Business Journal Magazine Monthly 11
ANZCHAM Annual Directory 2009-2010 Annual 1
ASIANTRAVELER Magazine 5
BLUEBLOOD, the Leadership Magazine 1
CHIMO Business Magazine Bi-monthly 5
CITIGUIDE Metro Manila 3
EXPAT NEWSPAPER 2 / Month 12
GOVERNMENT ASSOCIATION OF CERTIFIED PUBLIC
ACCOUNTS Souvenir Program 1
GUIDE TO EVERYDAY MANILA 2009 Edition (Japanese
Directory) Annual 1
ILYOSHINMUN The Weekly Newspaper 2 / Month 6
LA ISLA, In-flight Magazine of Air Philippine Airlines Monthly 4
MABUHAY MAGAZINE Monthly 2
PASAY-MAKATI REALTORS BOARD INC. (PMRB) Souvenir
Program 1
Philippine Daily Inquirer Special Report 1
PRIMER (Japanese Magazine) 3
Republic of 7107 ISLAND TRAVEL Magazine 3
ROAM Magazine 1
Schwarzwalder Restaurant breakfast menu placemat Monthly 6
THE DAILY MANILA SHIMBUN Newspaper 2 / Month 12
THE FOREIGN POST 2 / Month 12
OCEANIA (ANZCHAM Newsletter) Bi-monthly 5
THE PHILIPPINES YEARBOOK (2010 Edition) 1
TRAVEL UPDATE Philippines 2
TRAVELIFE Magazine 3
WORLD NEWS Newspaper 2 / Month 12
ZEST AIR, In-flight Magazine of Zest Air Bi-monthly 3
21

Strengthened Government Collaboration
PRA has been working closely with the BI for efficient processing of the
SRRV.
As part of the local and international promotional campaign of PRA, the
DFA, Department of Trade and Industry (DTI) and DOT are tapped to
extend support to ensure successful marketing activities. Different MOAs
have been signed by PRA with DOT, Foreign Trade Service Corps (FTSC),
Technical Education and Skills Development Authority (TESDA), Philippine
National Police (PNP), LGUs for a more formal collaboration.
Improve Networking
PRA entered into a MOA with the Zamboanga Economic and Freeport
Authority (ZFA) to attain its objectives of promoting the Philippines as an
ideal retirement haven and tourism program of the country.
PRA was included in the City Tourism Council in Iriga City by virtue of
Resolution No. 2009-121 of the Sangguniang Panlungsod of Iriga City.
Quick response to frontliners’ inquiries on retirees’ record of visitorial fees
or data from banks on retirees’ deposits, in order to promptly issue IDs and
other related requests from clients.
Generation of financial reports on the following: revenues derived from
different sources to measure source of funding requirements; and
expenses to determine the ratio of spending versus income generation.
Conduct aggressive retention program
Better Product Offering
The PRA expanded Board Resolution No. 11 which provides for
the issuance of the SRRV to all Ambassadors of Foreign Countries
who served in the Philippine. The expansion extends the program
offered to other Diplomatic and Consular Agents who have served
in the Philippines.
22

The PRA in coordination with the Local Government of
Makati issues the “Blu Card” to the Senior memberretirees
of PRA. This “Blu Card” entitles them to be
exempted in the City’s transport color-coding scheme.
Improve Quality of Service
Regular discussion of old and new policies. Consistent
implementation of procedures and processes.
Expand services and marketing operations
Expand Investment Areas
Retiree investment options have been expanded to
include leasing of agricultural land for leisure farming
purposes. Leisure Farming, apart from being a hobby of
many retirees in their home country, is an economic and
livelihood generator.
Improve and Propose Additional Investment Options
Support to policy enhancements being requested by
retirees. Leisure farming as one of the investment areas.
Enhancing MOA with banks to protect interests earned by
retiree members.
23

Maximized Website Utilization
The online application which is currently used by retiree applicants and
marketers joining the SRRV program has made it easier for the
Processing Division and for the applicants to know the status of their
applications.
Accredited Merchant Partners, Marketers and Facilities may also be
viewed in the website. Retirees may now write articles that PRA may
post online for public viewing.
PABX System
The PABX System was upgraded with call center features including new
handset units, new local numbers and an automatic voice prompt.
Software
Software licenses for the firewall and operating system were acquired
and renewed.
Public Address System
A public address system with piped-in music was installed in the office
premises.
PRA Integrated Information System
The conceptualization and the Terms of Reference of the project were
completed.
24

Streamline the organization to respond to changing times through training
and reorientation
Personnel Safety Risk Management
Training
No. of Participants
5s of Good Housekeeping
Fire Drill
All employees
All employees
Kaizen Philosophy 1
Strengthen Supply Operations
Training
No. of Participants
Materials Management and Inventory Control 1
Improve General Services Operations
Training
No. of Participants
Logistics Management 1
Improve Data/Record Management
Training
Records Disposal and Management
No. of Participants
All employees
Records and Archives Counter Disaster Planning 1
25

IT-Related Training
Training
No. of Participants
MS Access 2007 2
ISO 9000 Quality Management System Awareness 2
Webpage Development using Dreamweaver CS3 2
ISO 9000 Quality Management System
Documentation
1
Webpage Design using Adobe Photoshop CS3 1
One (1) Day Conference in using Powerpoint
Presentation
6
Marketing-Related Trainings
Training
No. of Participants
Putting Your Business Online 1
Effective Selling and Negotiation 1
Crisis Communication as Marketing and
Customer Response Tool
7
26

Leadership Trainings
Training
No. of
Participants
Effective Leadership Skills 1
Participation of PRA Employees Association to the 2009
National Workers Congress
1
Personnel Awareness
Training
Government Service Insurance System: Mandate,
Programs, Benefits and Services
GSIS: Update on Reconciliation of Accounts
GSIS: Interactive Training on Agency Remittance
Advance
Attendance of PRA Female Staff on Womens
Entrepreneurship Summit
Orientation on National Center for the Reintegration of
Filipino Workerss Mandate, Programs and Services
Installation of Presidential Management Staff – Office
Performance Evaluation System
No. of
Participants
34 (All regular
employees)
34 (All regular
employees)
2
3
All employees
All employees
Seminar on Retirement Plan Design & Set-up 5
Presidential Anti-Graft Commission In-House Briefing
Korean Chamber of Commerce Mandates and
Programs
All employees
All employees
27

Finance-Related Trainings
Training
No. of Participants
Understanding Financial Statements 1
Participation of PRAEA to the 2009 National Workers
Congress
1
Pre-Audit Orientation 23
Seminar on the Implementation of Selective Pre-
Audit on Government Transactions
5
Implement confidence building measures for organizational harmony
Improve Personnel Productivity
The Authority has conducted trainings for the empowerment of the
employees varying from IT-related, Leadership, Employee
Awareness, Records Management, Communication Skills and
Customer Relations trainings.
Improve Personnel Welfare
The Authority initiated, as mandated by the Civil Service
Commission and as provided in the Program for Awards and
Incentives for Service Excellence (PRAISE), loyalty awards, and
monthly salu-salo.
28

Promote Social Awareness
As part of its Corporate Social Responsibility initiatives, PRA selected six (6)
regional areas for Elderly Care Facilities and earmarked PhP 60 million (sixty
million pesos) for their construction. Sacks of rice and grocery items were
likewise distributed to the following institutions:
•Bicutan Drug Rehabilitation Center
•Canosa Health and Social Center Foundation
•Palcare Hospice Foundation
•Alab Foundation
Promote Organizational Harmony
The Authority held is Annual Team Building Activity on Conflict Resolution
last May 15-16, 2009 at Wonder Island Resort, Calamba, Laguna. It was
facilitated by the Conflict Resolution Group (CORE Group).
29

IN MILLION PESOS
PHILIPPINE RETIREMENT AUTHORITY
RESULTS OF OPERATIONS
January - December 2009
Net Income (Loss) Revenue MOOE PS
300.00
250.00
200.00
150.00
100.00
50.00
-
January February March April May June July August Septem ber October Novem ber Decem ber
M O N T H S
This graph represents the cumulative figures of the generated revenue
versus the expenditures of the Authority.
For 2009 the total revenue amounted to Php 264.2 M from which 59.21%
was generated from Management Fee and 10.55% came from the
Visitorial fees.
The RRSC Department has significantly processed a total of 1,789 enrollees
that generated returns of Php 71M which is equal to 26.88% of the total
revenue.
However, income generation was negated by the increase in the
Authority’s expenses amounting to Php 111.1M, wherein 84.15% was
utilized for Maintenance and Operating Expenses and 15.83% for personal
services and the rest for financial expenses.
30

IN MILLION PESOS
PHILIPPINE RETIREMENT AUTHORITY
FINANCIAL POSITION
January - December 2009
LIABILITIES NETWORTH ASSETS
800.00
700.00
600.00
500.00
400.00
300.00
200.00
100.00
-
January February M arch April M ay June July August September October November December
M O N T H S
The above data show the current financial position of the Authority.
The increase in the asset was the result of the positive effect of the
revenue generated converted into investments (placements) and
acquisition of properties.
However, it is worthy to note that the increase in the Authority’s liabilities
was due to the increase of payables to the Bureau of Treasury for the
2008 Dividend amounting to Php 86M, resulting in the decrease in the
Authority’s networth.
31

PHILIPPINE RETIREMENT AUTHORITY
BALANCE SHEET
December 31, 2009
(With corresponding figures for 2008)
(In Philippine Peso)
Notes 2009 2008
ASSETS
Current Assets
Cash and cash equivalents 2.a & 3 393,277,289 371,383,897
Receivables - Net 2.b & 4 45,693,188 46,493,641
Investments 5 35,500,000 39,631,703
Prepaid expenses 6 2,839,969 3,307,218
Inventories 7 3,024,296 2,965,767
Other current assets 8 2,993,654 2,460,120
483,328,396 466,242,346
Non-Current Assets
Investments 5 170,937,085 76,175,130
Property and equipment - Net 2.c & 9 51,888,724 48,557,630
Due from officers/employees-prior years 1,701,693 -
Other receivables 10 - 4,615,648
224,527,502 129,348,408
TOTAL ASSETS 707,855,898 595,590,754
LIABILITIES AND EQUITY
Current Liabilities
Inter-agency payables 11 95,464,936 14,424,095
Deferred credits 12 25,551,961 14,249,524
Accounts payable 13,671,952 12,107,847
Other payables 3,209,957 1,181,363
Due to officers and employees 855,473 708,234
LIABILITIES 138,754,279 42,671,063
Paid-in capital/equity 63,217,089 63,217,089
Retained earnings 505,884,530 489,702,602
EQUITY 569,101,619 552,919,691
TOTAL LIABILITIES AND EQUITY 707,855,898 595,590,754
32

PHILIPPINE RETIREMENT AUTHORITY
STATEMENT OF REVENUE AND EXPENDITURES
For the Year Ended December 31, 2009
(With corresponding figures for 2008)
(In Philippine Peso)
Notes 2009 2008
INCOME 2.d
Income from operations:
Other business income - Management/Conversion fees 156,404,673 144,573,400
Passport and visa application fees 71,014,500 90,898,829
Inspection/Visitorial fees 27,873,532 33,988,198
ID/Registration fees 5,642,493 4,871,068
Affiliation/Accreditation fees 1,376,383 1,407,981
Processing/Service fees 1,159,103 1,147,958
Rent income 659,621 275,744
Other service income 40,521 76,448
Gross income 264,170,826 277,239,626
OPERATING EXPENSES 15
Personal services 17,599,804 13,291,065
Maintenance and other operating expenses 98,411,992 92,911,206
Financial expenses 19,125 17,841
Total operating expenses 116,030,921 106,220,112
TOTAL OPERATING INCOME 148,139,905 171,019,514
Other Income (Expense):
Interest income 13,266,796 14,011,465
Miscellaneous income 122,634 289,811
Loss on sale of investment (160,000) -
Gain / (Loss) on foreign exchange 16 (14,295,230) 47,560,304
NET INCOME BEFORE TAX 147,074,105 232,881,094
Income tax (44,430,762) (59,958,264)
NET INCOME AFTER TAX 102,643,343 172,922,830
33

PHILIPPINE RETIREMENT AUTHORITY
STATEMENT OF CHANGES IN EQUITY
For the Year Ended December 31, 2009
(With corresponding figures for 2008)
(In Philippine Peso)
Paid-in-capital/ Retained Total
Note Equity Earnings Equity
Balance, January 1, 2008 63,217,089 345,667,798 408,884,887
Net income for the period - 172,922,830 172,922,830
Dividends paid 14 - (28,888,026) (28,888,026)
Balance, December 31, 2008 63,217,089 489,702,602 552,919,691
Net income for the period - 102,643,343 102,643,343
Dividends payable 14 - (86,461,415) (86,461,415)
Balance, December 31, 2009 63,217,089 505,884,530 569,101,619
2009 2008
Retained earnings, beginning of year 489,702,602 345,667,798
Net income for the period 102,643,343 172,922,830
Dividends payable 14 (86,461,415) (28,888,026)
RETAINED EARNINGS, end of year 505,884,530 489,702,602
34

PHILIPPINE RETIREMENT AUTHORITY
CASH FLOW STATEMENT
For the Year Ended December 31, 2009
(With corresponding figures for 2008) (In
Philippine Peso)
CASH FLOWS FROM OPERATING ACTIVITIES
Notes 2009 2008
Collection of income 249,023,059 251,856,331
Collection of receivables 30,495,050 27,606,853
Gain on foreign exchange 16 28,006,834 64,696,720
Receipt of trust liabilities 2,937,410 400,010
Dividends paid 14 - (28,888,026)
Payment of guaranty deposit (483,535) -
Release of cash advances (Due from officers/employees) (1,920,142) (1,461,185)
Remittance of GSIS/Pag-IBIG/withholding taxes/others (2,626,928) (2,774,468)
Purchase of office supplies (4,984,993) (5,076,500)
Loss on foreign exchange 16 (41,191,819) (21,530,533)
Payment of payables (55,307,141) (69,095,400)
Payment of operating expenses (81,448,515) (76,591,212)
Net cash provided by operating activities 122,499,280 139,142,590
CASH FLOWS FROM INVESTING ACTIVITIES
Investment in bonds and high yield deposits (92,761,142) 18,033,775
Purchase of/disbursements for property and equipment:
Other leasehold improvements - (71,280)
Office equipment (305,444) (1,505,391)
Office furniture (401,581) (386,748)
Other machineries and equipment (1,398,708) (57,765)
Information technology (IT) equipment (1,422,883) (435,677)
Motor vehicles (4,316,130) -
Net cash provided by/(used in) investing activities (100,605,888) 15,576,914
NET INCREASE IN CASH AND CASH EQUIVALENTS 21,893,392 154,719,504
CASH AND CASH EQUIVALENTS, BEGINNING 371,383,897 216,664,393
CASH AND CASH EQUIVALENTS, ENDING 3 393,277,289 371,383,897
35

Schedule 1
PHILIPPINE RETIREMENT AUTHORITY
SCHEDULE OF OPERATING EXPENSES
For the Year Ended December 31, 2009
(W ith corresponding figures for 2008)
(In Philippine Peso)
Note 2009 2008
PERSONAL SERVICES
Salaries and wages-regular 9,569,902 7,930,322
Other Compensation:
Other bonuses and allowances 1,459,099 371,406
Representation allowance (RA) 1,067,462 668,906
Other personnel benefits 1,047,750 258,526
Transportation allowance (TA) 937,462 630,900
Year-end bonus 796,950 706,626
Additional compensation (ADCOM) 407,761 632,086
Personnel economic relief allowance (PERA) 407,242 210,695
Cash gift 170,000 170,000
Clothing/uniform allowance 132,000 160,593
Personnel Benefit Contributions:
Life and retirement insurance contributions 1,056,263 939,712
PHILHEALTH contributions 106,463 96,337
PAG-IBIG contributions 40,800 42,510
ECC contributions 40,850 42,494
Other Personnel Benefits:
Terminal leave benefits 359,800 429,952
Total personal services 17,599,804 13,291,065
MAINTENANCE AND OTHER OPERATING EXPENSES
Other MOE-Marketers fee 16,231,792 20,522,602
General services 12,904,920 12,132,765
Advertising and promotion expenses 12,772,276 6,617,024
Other MOE-Bureau of Immigration fees 10,207,702 13,198,728
Representation expenses 9,316,612 5,272,109
Rent expenses 6,246,009 4,993,923
Bad debts expense 5,540,735 -
Membership dues and contributions to organizations 17 3,786,015 3,349,418
Travelling expense - local 2,206,351 1,827,871
Depreciation - IT equipment 1,768,208 1,824,259
Office supplies expense 1,637,721 1,950,821
Depreciation - office building 1,464,199 1,464,199
Other supplies expenses 1,458,200 4,886,055
Depreciation - motor vehicles 1,277,337 1,114,190
Auditing services 1,276,886 1,143,591
Postage and delivery expenses 1,187,841 1,124,182
2009 2008
Telephone expenses-mobile 1,063,317 887,568
Telephone expenses-landline 997,405 808,444
Repairs and maintenance - motor vehicles 855,478 679,963
Electricity expenses 768,278 732,284
Gasoline, oil and lubricants expense 747,789 1,121,360
Internet expenses 661,151 399,287
Food supplies expense 584,953 361,665
Training expenses 571,455 664,187
Travelling expense - foreign 399,091 1,431,618
Legal services 315,481 316,250
Depreciation - office equipment 290,754 329,399
Insurance expense 284,256 222,362
Depreciation - furniture & fixtures 255,103 271,564
Transportation and delivery expenses 249,299 218,143
Security services 231,490 218,804
Depreciation - other PPE 221,425 111,869
Repairs and maint.-leasehold improvements, bldg. 204,904 110,508
Fidelity bond premiums 93,030 16,095
Drugs and medicines expenses 67,406 20,509
Depreciation - other equipment 59,492 73,967
Subscription expenses 46,105 26,755
Other MOOE 34,390 -
Taxes, duties and licenses 34,137 17,937
Donations 21,081 2,078,850
Printing and binding expenses 16,991 69,027
Cable, satellite, telegraph and radio expenses 16,635 5,318
Repairs and maintenance - office equipment 16,094 38,627
Consultancy services 13,273 -
Repairs and maintenance - furniture and fixtures 7,270 21,770
Extraordinary expenses 1,655 51,630
Repairs and maintenance - office building - 83,201
Repairs and maintenance - IT equipment - 53,629
Other professional services - 28,529
Miscellaneous expenses - 18,350
Total maintenance and other operating expenses 98,411,992 92,911,206
Financial expenses:
Bank charges 19,125 17,841
TOTAL OPERATING EXPENSES 116,030,921 106,220,112
36

PRA SPONSORED THIS EVENT HELD AT
THE BALI HAI EAST, BAUANG, LA
UNION. MOST OF THE VFW MEMBERS
ARE ALREADY MEMBERS OF PRA AND
WE WERE ABLE TO LURE 5 VFW
MEMBERS TO JOIN THE PROGRAM
2009 VFW Chili Cook Off
MEETING WITH KOREAN
ASSOCIATION IN BAGUIO
REGARDING INCREASE IN
ENROLMENT AND PROMOTION OF
PRA IN THE CITY OF BAGUIO
PRESIDED BY CHAIRMAN AGLIPAY.
PRA IS ONE OF THE SPONSORS OF
THE EVENT. IT LURED AROUND 1,500
FOREIGNERS. A NUMBER OF THEM
INQUIRED AND IS SET TO ENROL IN
THE PROGRAM.
37

ACTIVITY: 18TH NORTHERN LUZON AREA BUSINESS
CONFERENCE CUM PRESENTATION OF PLAQUE FOR
LIRA-BAGUIO AND LIRA-MOA SIGNING WITH BAGUIO
CITY MAYOR REINALDO BA Bu U s T i I n S e TA ss A C N o D nfe TH re E n B c A e GUIO-
BENGUET CHAMBER OF COMMERCE AND INDUSTRY,
INC.
CHAMBER OF REAL
ESTATE AND BROKERS
ASSOCIATION (CREBA)
GRAND HOUSING
FESTIVAL
CUM
SABSABONG MAYO
(MAY
FLOWER
FESTIVAL) WITH PRA
PRESS CONFERENCE
38

OIC-SUBIC CLARK SATELLITE
ADMINISTERING AFFRIMATION OF
MEMBERSHIP TO NEW RETIREE
PRA SATELLITE OFFICE
IN ANGELES CITY, PAMPANGA
SHOWING THE OIC-SUBIC
CLARK SATELLITE
AND ASSISTANT
OIC-SUBIC CLARK SATELLITE
ATTENDS TO INQUIRIES
AT PRA BOOTH
AT BARRIO BARRETO BEACH BASH
39

PRA PARTICIPATION AT
2009 INTERNATIONAL
HOT AIR BALLOON FESTIVAL AT
CLARK FIELD, PAMPANGA IN
CELEBRATION OF ITS
25 TH ANNIVERSARY
OCULAR INSPECTION OF
RETIREE’S INVESTMENT
OCULAR INSPECTION OF
PROPOSED RETIREMENT FACILITY
40

Sinulog Festival is the country’s biggest
pageantry of sights, sounds and colors as it
honors Cebu’s patron saint Sr. Sto. Niño.
For twenty nine years, the Cebu City government
continuously endeavored to improve the
festivities every year. Aside from the main
spectacle which is the ten-hour Sinulog Grand
Parade, there were also other activities that
would entice tourists and balikbayans alike to
visit and experience the fête
SINULOG MARKETING INFORMATION DRIVE
Jan 17-18, 2009 - In keeping with the festival celebration and to take
advantage of the tourists arrival during the event, PRA-Cebu Satellite
Office initiated a marketing information drive about the Special
Resident Retirees Visa.
With the end in view of encouraging more foreigners and former
Filipinos to enroll with SRRV, it was deemed significant to seize the
opportunity thru distributing flyers and PRA marketing collaterals during
the weekend celebration.
PARTNERING WITH ACCREDITED FACILITIES
Months before the celebration, a series of meetings and orientations
was conducted by PRA-Cebu at the office of the Vice President for
Sales and Marketing of Fuente Triangle Realty Development (FTRD).
Subsequently, their intention to accredit as Facility with PRA was
revived and FTRD is now one of those who were enrolled under such
accreditation.
The Crown Regency Hotel and Towers, being one of the projects
marketed by FTRD is now considered one of the newest and biggest
tourist attractions in Cebu. With their first in the world Sky Experience
Adventure, a lot of tourists include in their itinerary a stop-over to this
hotel in order to try the rides and other world-class amenities being
offered by it.
Taking cognizance of this opportunity, PRA-Cebu formally requested
the office of the Chief Executive Officer Richard King to provide PRA
with a space in their hotel lobby wherein we can distribute and brief
prospective retirees about the SRRV program during the Sinulog
Celebration and it was granted.
Tarpaulins, brochures and flyers were displayed and manned by PRA-
Cebu Staff at the hotel lobby. A lot of tourists and former Filipinos were
going to the hotel to stay for the festival or otherwise try the famous sky
rides at the topmost part of the tower.
41

PRA INFORMATION DRIVE
January 17-18,2009 - During the Sinulog Grand Parade, PRA-Cebu staff
spread out along the streets were the parade was routed and handed
out flyers to spectators who are prospective enrollees to the program.
A lot of inquiries from foreigners and former Filipinos were received and
a number of briefings about SRRV was conducted to interested clients.
Aside from the flyers and brochures distributed, Smile At Life button pins
were also given out to the parade goers and spectators.
It can be gleaned from the campaign experience that indeed, proactive
marketing even in the streets where our target clients abound
can be very effective.
42

11 June 2009: In accordance with the Authority’s mandate, PRA is coming
up with a LIRA project, a holistic approach in stepping up efforts to provide
foreign retirees with a seamless delivery of products & services.
This project aims to bring together business establishments, service providers
and the government sector to an agreement integrating themselves to
collectively provide foreign retirees’ with very accessible & convenient way
to start their way of life in their chosen province or municipality.
PRA Cebu organized a forum of different industry stakeholders in the real
estate, medical, service, chambers of commerce, local government
sectors, among others. The forum aimed to fill in participants with
information about the how the LIRA operates. Said interaction was
presided over by the former Chairman Gen. Edgar Aglipay. Such activity
also aimed to secure the confirmation of the participants backing up the
LIRA project. A lively interaction with the participants ensued. Majority of
the participants took positive response on the concept of LIRA.
SOME OF CEBU’S ATTRACTIONS FOR RETIREES
43

BUSINESS INVESTMENT AND MEDIA FORUM
WITH SEC. ARIEL LIM, PRESIDENTIAL ASSISTANT
ON PUBLIC BTRuAsinNeSsPsOCRoTnference
CREBA HOUSING FAIR NCCC MALL OF DAVAO
44

Bank Partners: PRA-accredited banks for the depository requirements of retirees
Philippine Business Bank (a thrift bank)
46