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Old September 27th, 2014, 04:26 PM   #501
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SSS introduces new retirement savings scheme




September 26, 2014 8:20 pm
by RITCHIE A. HORARIO



The voluntary provident fund program, dubbed the SSS Personal Equity and Savings Option (SSS PESO) Fund, is an alternative and tax-free investment that would help members accumulate adequate income upon retirement and earn a reasonable rate of return, said Emilio S. de Quiros, Jr., SSS president and chief executive officer.


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Savings in the SSS PESO Fund are invested in sovereign guaranteed investments, where 65 percent of the total fund is allocated for retirement, and 35 percent for medical and general purposes.



“The portion for retirement is guaranteed to earn income based on interest rates of five-year Treasury yields, while earnings of the fund allotted for medical and general purposes will be based on 364-day Treasury bill rates,” De Quiros said.
http://www.manilatimes.net/sss-intro...scheme/129734/
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