Philippine Retirement Authority commemorates its 31st Foundation Day
The Philippine Retirement Authority (PRA) recently celebrated its 31st year as the leading agency in promoting the Philippines as a significant retirement destination of this side of the globe at the Philippine International Convention Centre, .
THE VENUE. The place were all set and excellently decorated for PRA’s valued guests.
With the theme “Recognizing the Achievers in the Retirement Industry,” PRA awarded its outstanding personnel with 15, 25, and 30 years of government service, top marketers and exemplary retiree-members. General Manager Valentino Cabansag and PRA employees gave a warm welcome to the newly appointed Secretary of the Department of Tourism, Hon. Wanda Corazon Teo, who was present at the said event. She was introduced through her all-encompassing and greatest achievements in the industry. Teo also gave short, meaningful remarks for the guests of the event.
HON. WANDA CORAZON TEO. All eyes were on the lady in red. Attendees were very pleased to welcome the new Secretary of Department of Tourism.
PRA is a government and controlled corporation established under Executive Order No. 1037 by the office of the President in 1985. PRA aims attract foreign nationals and former Filipino citizens to invest, reside and retire in the Philippines with the end-view of accelerating the socio-economic development of the country, contributing to the foreign currency reserve of the economy and by providing them the best quality of life in the most attractive package. It issues the Special Resident Retiree’s Visa (SRRV) for foreigners and former Filipino citizens who want to retire in the country. The SRRV entitles the holder to reside in the Philippines indefinitely with multiple entry and exit privileges.
In over three decades of service, PRA works dynamically, with the combined efforts of the Department of Tourism, Bureau of Immigration and Development Bank of the Philippines, to improve its services and convince more foreign retirees to settle in the country. PRA has already enrolled close to 45,000 foreign retirees, 10% of which was accumulated last 2015. In addition, PRA recently remitted dividends amounting to P190.44 million to the Bureau of Treasury for the Fiscal Year 0f 2015.
