Metrobank launches employee benefit program product

The Metropolitan Bank and Trust Co. (Metrobank) has launched Corporate Stewardship, an employee benefit program that integrates various human resources packages.

Companies benefit from the convenience of an integrated employee benefit program that includes retirement and savings plans such as basic and expanded retirement plan, provident plan, other special employee benefit plans and/or savings and loan plan.

Corporate Stewardship is open to all Philippine-based companies or corporations that intend to set up a retirement plan or to enhance and expand its existing employee benefit program.

And like a good father and steward, it inculcates prudence and savings to employees and prepares them for self-sufficiency upon retirement, a value that could be shared from generation to generation.

With Metrobank’s Trust Banking, corporate clients expect nothing less than professional and global-standard fund management service.

Companies benefit from the financial strength of the country’s No. 1 bank and No. 1 trust in the industry.

Moreover, Metrobank Trust Banking prides itself with consistency in performance and a good track record of delivering a rate of return ranging from 10- to 12-percent (net) per annum for the past five years.

Not withstanding the company’s objectives of giving the best benefit packages to its employees, companies, through Corporate Stewardship will be compliant with the requirements of Republic Act (RA) 7641, that mandates companies to provide retirement benefits to its employees when they reached age 60 and has rendered at least five years of continuous service to the company.

Corporate Stewardship conforms to the recently mandated International Accounting Standards (IAS) No. 19.

The IAS 19 prescribes the accounting and disclosure of employee benefits that is, all forms of consideration given by an enterprise in exchange for service rendered by employees.

Through Corporate Stewardship, the company and the covered employees enjoy discounts on various services from Manila Doctors Hospital and pre-approved Metrobank credit cards for the employees with free first-year annual membership (for employees with a minimum of P180,000 annual salary).

The company has the option to attach special group discount packages to an existing or proposed retirement plan to further boost employee benefits such as supplemental life insurance plan with medical reimbursement plan option and employee loan plan.