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News 12/12

How to Become an Associate Member


PRA, in its desire to advance the "Oplan Green" and "Enroll a Friend" schemes,
shall encourage and spur on the enrolment of foreign nationals and former Filipino citizens and inspire them to promote the PRA SRRV program and all retirement-related business activities in order to accelerate the growth and development of the Philippine Retirement Industry. In this connection, PRA shall implement the following Rules and Regulations in the enrolment of foreign nationals and former Filipino citizens as Associate Members, to avail of the incentives provided for under Board Resolution No. 101 series of 2007.

DEFINITION OF TERMS

"Authority" - shall refer to the Philippine Retirement Authority (PRA). Associate Members - shall refer to former Filipino citizens and foreign nationals (not classified as restricted by BI and DFA) who are issued the PRA (Associate Member) Card and Certificate of Participation. Fee - shall refer to the yearly membership fee of $100 payable upon filing of the application to the PRA program as Associate Member. Referral Fee - refers to the fiscal incentive for
$250 to be paid to an Associate Member for every successful SRRV enrollee (not to exceed from 4) referred to the PRA program.

PERSONS ELIGIBLE

    a. He/She is at least 35 years old.
    b. Former Filipino citizens and foreign nationals not classified as restricted by BI and DFA.
    c. Tourists, non-immigrants and other foreign nationals who are holders of other visa categories issued by the Bureau of Immigration.
    d. He/She is a holder of a valid foreign passport and valid stay status.
    e. He/She is willing to comply with the following requirements in order to qualify   
        as Associate Member such as:
        e.1 PRA Application Form (with 2x2 picture)
        e.2 Police and/or NBI clearance
        e.3 Medical Certificate
        e.4 Proof of monthly income of not lessthan $800 remitted to the Philippines and application fee for $100

These Rules shall not apply to holders of SRR Visa including their dependent spouse and/or children

INCENTIVES

a.    Qualified Associate Members shall be issued the PRA I.D. Card and\Certificate of Participation and are entitled to the following benefits, to wit:

    a.1 Free assistance from PRA on matters pertaining to:

        o Extension of visa with the Bureau of Immigration
        o Application for local driver's license
        o Application for Special Work Permit (SWP) or Alien Employment Permit (AEP), if necessary
        o Application for Business Permit including permits from BOI, SEC, BIR etc and other government agencies
        o Domestic Travels and Bookings
        o Other concerns with NGO, LGUs, including the Barangay Unit
        o Hotel Accommodations
        o Other concerns while staying in the Philippines

b.    Upon issuance of the PRA I.D. Card and Certificate of Participation, the
Associate Member shall likewise be issued the Certificate of Registration as an accredited endorser of the PRA program authorizing him/her to:

    b.1 Promote the PRA program both in local and foreign markets;
    b.2 Secure from PRA marketing collaterals and other information materials   
      at no cost to the Associate Member.
    b.3 Enroll relatives, friends, business associates or partners in the SRRV

PROCEDURAL / DOCUMENTARY
REQUIREMENTS / FEE

Applications for Associate Membership shall be submitted to PRA with the following documentary requirements:
    1. Accomplished PRA Form
    2. Police clearance form the applicant's country of origin (to be authenticated by the Philippine Embassy) or NBI clearance if the applicant is in Manila.
    3. Medical Certificate
    4. Proof of monthly income of not less than $800 remitted to the Philippines.
    5. Photocopy of the current passport with valid stay status.

The existing rules enforced by PRA on the release of the "Marketer's Fee" shall govern on the payment of the referral fee except for the submission of the certificate of Attendance which shall now be substituted by a "Referral Form" to be accomplished by the Associate Member and concurred by the SRRV applicant referred to the program.

TERMS AND CONDITIONS

Applicability. These Rules shall apply only to Associate Members of PRA duly issued the PRA I.D. Card for Associate Members and Certificate of Participation.
The I.D. Card and Certificate of Participation are valid for one (1) year and is renewable every year thereafter at no cost to the Associate Member. The referral fee for $250 shall be paid to the Associate Member himself in Philippine currency less withholding tax.

OTHER PROVISIONS

Separability Clause. The provisions of the Implementing Rules and Regulations (IRR) are hereby declared to be separable, and if any provision or section of this IRR or application thereof to any person or circumstances should for any reason be held invalid or unconstitutional such invalidity or unconstitutionality shall not effect the other provisions or sections of this IRR.Effectivity. This IRR shall take effect 15 days from its date of publication.