Presentation on theme: "The Retirement Housing Development in the Philippines 17 th National Housing Convention and Trade Exhibits Friday, 21 September 2012 Makati Sports Plaza,"— Presentation transcript:
The Retirement Housing Development in the Philippines 17 th National Housing Convention and Trade Exhibits Friday, 21 September 2012 Makati Sports Plaza, Makati City
1. PRA Icon 2. S-Curve (with Supporting Table) 3. Cost of Living Index (Numbeo) 4. International Labour Organization (ILO) Monthly Wage Comparison 5. PRA-PFA Memorandum of Understanding 6. Philippine Retirement and Ageing Agenda, including Executive Summary and Attachments
EXECUTIVE SUMMARY of the presentation made by the Philippine Retirement Authority General Manager Veredigno P. Atienza at the 2nd Philippine Retirement and Healthcare Summit held at the Dusit Thani Hotel on 26 June 2012 PRA PROPOSES COUNCIL ON RETIREMENT AND AGEING (CORA): PUSHES FOR AGEING-FRIENDLY PHILIPPINES The 2nd Philippine Retirement and Healthcare Summit held at the Dusit Thani Hotel Grand Ballroom on 26 June 2012 indicated that the Philippine Retirement and Ageing Agenda mapped out by the Philippine Retirement Authority is on the right track. The RA agenda is credited with a 54% increase in retiree-enrolment in January to May 2012 versus January to May 2011. Same agenda is credited for the 50% NIAT (net income after tax) increase in 2011 versus 2010. And this agenda is also credited for the FY2011 dividends remitted to the National Treasury in 2012 in the amount of Php106,109,300.73. In the said summit, PRA General Manager Veredigno P. Atienza proposed the National Integrated Retirement and Ageing (NIRA) program, aimed at making Philippine society age-friendly and ageing-friendly at all levels for all concerned, both Filipinos and foreign nationals. He said that Our national agenda should go beyond attracting foreign retirees to our shores, but must make life in every locality attractive to all people of all ages, both foreign and Filipino. We must have a culture and climate of age-and-aging-friendliness. Said culture and climate will integrate all the reasons why foreigners and Filipinos would want to retire in the Philippines. A Council on Retirement and Ageing (CORA) was proposed: involving all government entities that work with retirees, seniors and elderly. These are: the GSIS for government retirees, the SSS for private sector retirees, the PVAO for military retirees, the OWWA for overseas Filipinos, the DSWD for indigent elderly, Philhealth for ailing elderly, the PRA for foreign retirees, and the partylists that represent seniors and the elderly. Atienza said that PRA can represent retirees, seniors and elderly who do not have any agency to represent them, such as Balikbayan retirees, dual citizens, quota-visa retirees, 13G seniors, and 13A seniors i.e. foreigners married to Filipinos. It is estimated that there are 7,000,000 seniors in the Philippines who can provide enough scale to justify CORA and NIRA.
Atienza proposed that at the parish and barangay levels, there should be the Parish and Barangay Retirement and Ageing Program (PBRA), under the supervision of dioceses, parishes, barangays, and LGUs. The PBRA is meant to be an inclusive and sustainable economic program that can deal with the country's intractables such as the lack of countryside and balanced development, the deplorable school dropout rate, and the wide inequality in capital and wealth. In his presentation, Atienza also said that, The PBRA will promote the establishment of Retirement-and-Aging related businesses at the parishes and barangays (thus promoting countryside development), involving personnel from highly educated to lowly educated (thus promoting employment even among the school dropouts), and attracting capitalists from those with substantial means to those with barely any capital (thus promoting entrepreneurship across the great gaps of income, wealth, assets, net worth, information and connections). At the LGU and Barangay Council levels, there are established LGU and barangay offices assigned to Seniors affairs which can be tapped. During the PRA Chairmanship of General Edgar Aglipay, PRA launched the Local Integrated Retirement Area (LIRA) concept, to secure the cooperation of the local government units and elites in cities that were labeled priority retirement areas. In our CORA/NIRA framework, LIRA can be expanded to formally include the age- and ageing-friendliness agenda, and can be applied not exclusively just to priority retirement areas, but inclusively to all localities that wish to promote retirement and age friendliness, according to Atienza. GM Atienza acknowledges the presence of serious global competitors such as Thailand, Malaysia and New Zealand in the Asia-Pacific, and the aggressive players in the Americas, like Panama, Mexico, Costa Rica and Ecuador. He said that these countries all have high rankings in the International Living Magazine Annual Retirement Index (ARI) and Quality of Life Index (QLI). PRA is leveraging developments in age-friendliness, tourism, healthcare and DOTs Its more fun in the Philippines campaign to boost the Philippine position further in the international retirement rankings. According to Atienza, the best way still to get reputable international publicity may be to get into the good graces of International Living and similar respected international magazines. He also said that PRA must do more roadshows and conferences which are rifled at distinct focused audiences.
The PRA offers the Special Resident Retirees Visa (SRRV) to all foreigners which entitle the holder permanent residency status with multiple entry privileges in the Philippines. In 2011, PRA launched its rationalized and re-branded product line. The SRR Visa products were streamlined and categorized as Human Touch SRRV for ailing applicants, Courtesy SRRV for former Philippine-based diplomats and former Filipinos, Classic SRRV whereby the visa deposit is convertible to property investment, and SMILE SRRV which is simply deposited for end-of-term obligations. Smile SRRV is the number one visa product now of PRA. Each product offers immense exciting opportunities, and PRA will soon be launching more product innovations.