THE Philippine Retirement Authority (PRA) marks its 31st year as the leading agency in promoting the Philippines as a significant retirement destination this side of the globe.
Reaching another milestone, PRA awarded its outstanding personnel with 15, 25 and 30 years of government service, top marketers and exemplary retiree-members. The event was held on July 1 at the Philippine International Convention Centre with the theme “Recognizing the Achievers in the Retirement Industry.”
In this event, General Manager Valentino Cabansag and PRA employees welcomed the newly appointed Tourism Secretary Wanda Corazon T. Teo who attended the event.
PRA is a government-owned and -controlled corporation established under Executive Order 1037 by the Office of the President in 1985. PRA is mandated to attract foreign nationals and former Filipino citizens to invest, reside and retire in the Philippines with the end-view of accelerating the socioeconomic 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 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. It is clear that the agency is continuously prospering. PRA has already enrolled close to 45,000 foreign retirees, 10 percent of which was accumulated in 2015. In addition, PRA recently remitted dividends amounting to P190.44 million to the Bureau of Treasury for Fiscal Year 2015.
Image credits: Alysa Salen