MANILA, Philippines – The Philam Asset Management Inc. (PAMI) and the Davao Light & Power Co. (DLPC), a member of the Aboitiz Group, have partnered to secure the retirement of the employees of the power firm.
Through the Personal Investment Program (PIP) of PAMI, DLPC employees can generate additional savings and investments for their future.
Before tapping PAMI, the company already has a retirement benefit and accident insurance, which are up to now still in effect in addition to the PIP.
The PIP is intended primarily for companies with employees who may want to set aside funds for their future through a very affordable savings scheme. PAMI also markets the program to individuals who wish to have a savings or investment option, which is as secure as money market placements in banks, but with higher returns.
An investor can avail of a scheme where one can make monthly investments according to one’s budget. For employees of company-endorsed PIP, the minimum initial investment is only P1,000, and the required minimum participants per company is only 10 employees.
For other individuals, minimum initial investment is P10,000. For both investor types, minimum amount for succeeding investments is only P1,000 monthly over a specified term (e.g. 12, 18, 24, etc. months). Investing is made easy as this is done via salary deduction or issuance of post-dated checks.
PAMI executive vice president Gina Goco-Morales said that companies can offer PIP as an optional savings scheme through salary deduction.
“With PIP, we are broadening our customer base - providing investors an easy way to build their future millions. We are, in effect, extending to small investors the advantages of diversification, liquidity and financial expertise that only organizations with extensive financial muscle can provide,” Morales added.