2019 ANNUAL REPORT - pra.gov.ph

2019 ANNUAL REPORT

P H I L I P P I N E R E T I R E M E N T A U T H O R I T Y

- DRAFT -

PRA and Its Mandate

The PHILIPPINE RETIREMENT AUTHORITY (PRA) is a government owned and controlled corporation created by virtue of Executive Order No. 1037, signed by former President Ferdinand E. Marcos on 04 July 1985. On 31 August 2001, through Executive Order No. 26, the control and su-pervision of PRA was transferred to the Board of Investments (BOI) – De-partment of Trade and Industry (DTI) from the Office of the President. On 12 May 2009, Republic Act No. 9593, otherwise known as Tourism Act 2009, PRA became an attached agency of the Department of Tourism (DOT) and placed under the supervision of the DOT Secretary. PRA is mandated to develop and promote the Philippines as a retirement haven as a means of accelerating the social and economic development of the country, strengthening its foreign exchange position, and at the same time, providing further the best quality of life to the targeted retir-ees in a most attractive package by giving them most attractive retire-ment package and service.

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“

“

VISION

MISSION

To make the Philippines the preferred retirement destination in South East Asia by 2022.

To provide a globally competitive retirement pro-gram in the Philippines for foreign nationals and

former Filipinos that will strengthen the sustainable socio-economic development of the

country.

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MESSAGE OF THE

GENERAL MANAGER/CEO

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Warmest greetings! First and foremost, let me express my immense gratitude – firstly, to our Almighty God; secondly, to our valued retiree-members, stakeholders, and industry partners; and thirdly, to our empowered and committed em-ployees as well as to all our fellow Filipinos – for PRA’s coveted successes of 2019 and the continued blessings of the present. Inarguably, striding above the challenges and difficulties, 2019 un-doubtedly augured well for the Philippine Retirement Authority, living up to its mandate as a government retirement migration agency. We are therefore more than happy and grateful to present to you our collabora-tive achievements for the fiscal year of 2019. First, PRA has remained more than ever a dependable revenue cata-lyst for our government. Our remittance dividends to our national treas-ury amounted to Two Hundred Sixteen Million, Three hundred Seventy-Three Thousand, Four Hundred Eight Pesos (PhP 216,373,408.00). For 2019, we have surpassed our generated revenue target by 9.22% or Eighty Five Million, Seven Hundred Forty-Eight Thousand, Six Hundred Eighty-Eight Pesos and Eighty-Two Centavos (PhP 85,748,688.82). Second, that indeed we have successfully achieved our mandate of making the Philippines a “shining force to reckon with” in terms of retire-ment migration can be gleaned from the gross number of our enrolled members which already reached to 53,265 from different nationalities worldwide as of yearend of 2019. Third, we have not failed but remained unrelenting in constantly im-proving our quality of services, systems and processes, as well as work-force competency. For 2019, based on a Customer Satisfaction Survey conducted by a third party consultant, PRA garnered a remarkable 88% satisfactory rating. We achieved the milestone of fully automating our processes, with a fully operational and functional SRRV servicing infor-mation system. We were able to maintain our ISO 9001:2015 Certifica-tion, making us continually compliant with international quality manage-ment system standards. We have marked a significant improvement in the competency of our workforce, as reflected by the competency baseline audit of our agency.

MESSAGE OF THE

GENERAL MANAGER/CEO

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Lastly, as our valued retiree-members cannot fail to notice, we have significantly renovated and refurbished our head office conducive to the optimum performance of our workforce as well as dispensing best quality services to our clients and members. In view of these accomplishments, and in closing, let me take a clue from Dag Hammarskjold who five decades ago said: “Only he who keeps his eyes fixed on the far horizon will find the right road.” It is therefore my fervent hope that with our eyes fixed on a bright and sturdy future, we can journey together on the right road of making the Philippines truly a “retiree’s paradise” and an “investor’s haven” as well. Mabuhay!

ATTY. BIENVENIDO K. CHY

General Manager & CEO

OUR PRODUCT

PRA’s core product is the

SPECIAL RESIDENT RETIREE’S VISA (SRRV),

known to be the Philippines’ retirement visa. SRRV is a non-immigrant visa which entitles foreign nationals and former Filipino citizens multiple-entry

privileges with the option to stay permanently/ indefinitely in the Philippines.

On 20 October 2010, the PRA Board rationalized, expanded, and branded PRA’s retirement visa product-line. And on 05 May 2011, PRA introduced and launched

various SRRV Options for foreign retirees and former Filipino citizens who would like to make the Philippines their retirement destination.

SRRV SMILE For active/healthy retirees who opt to maintain their visa deposit specifically to

answer for their end of term needs and obligations.

SRRV CLASSIC For active/healthy retirees who opt to use their visa deposits for active invest-ment, such as purchase of condominium unit or long-term lease of house and lot. Under this option, the visa deposit may be converted into property invest-

ments in the form of condominium purchase or long-term lease, as mentioned.

SRRV COURTESY For former natural-born Filipino

citizens, and foreign nationals who are retired officers of International Organi-zations recognized by the Department of Foreign Affairs (DFA), and former Phil-

ippine-based diplomats.

SRRV EXPANDED COURTESY (Jan 2013) For foreign nationals who are retired officers of the Armed Forces of foreign

countries with existing military ties and/or agreement with the Philippine gov-ernment.

SRRV HUMAN TOUCH For ailing retiree- applicants who need/ require medical/clinical care.

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MARKETING PROMOTIONS

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INTERNATIONAL LIVING‘S SEA FAST TRACK YOUR RETIREMENT OVERSEAS CONFERENCE 2019

Bangkok, Thailand 20-24 February 2019

ITB BERLIN (INTERNATIONALE TOURISMUS-BÖRSE BERLIN) Berlin, Germany

04 – 12 March 2019

INTERNATIONAL MARKETING PROMOTIONS

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KOREA STUDY ABROAD AND EMIGRATION FAIR Seoul, Korea

21-25 March 2019

48TH KOREA EMIGRATION AND INVESTMENT FAIR 2019/SPRING Busan, South Korea

29 March – 01 April 2019

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ASEAN HEALTH/AGED CARE MISSION Melbourne, Australia

May 11-16, 2019

LONG STAY FAIR 2019 Osaka, Japan 25 May 2019

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MEETING WITH DOT OSAKA Osaka, Japan 24 May 2019

PHILIPPINE BUSINESS MISSION Nagoya, Japan 29 May 2019

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PHILIPPINE BUSINESS MISSION Sapporo, Japan 27 May 2019

PHILIPPINE EXPO 2019 TOKYO Tokyo, Japan

13 – 17 June 2019

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INTERNATIONAL MEDICAL, HEALTH AND CARE EXPO Taipei, Taiwan

27-30 June 2019

50+ EXPO Hong Kong SAR 04-08 July 2019

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1ST US MIDWEST RETIREMENT SUMMIT Chicago, USA

09-10 August 2019

50 PLUS BEURS

Utrecht, The Netherlands

15-23 September 2019

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INTERNATIONAL LIVING OVERSEAS BOOTCAMP CONFERENCE Las Vegas, USA

09-15 October 2019

JATA TOURISM EXPO Osaka, Japan

23-28 October 2020

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ELDERLY CARE ASIA 2019 Kaoshiung, Taiwan

October 30- November 4, 2019

KOREA EMIGRATION AND INVESTMENT FAIR Seoul, South Korea

31 October – 4 November 2019

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LONG STAY FAIR Tokyo, Japan

22-27 November 2019

INVEST ASEAN 2019 Busan, South Korea

24-27 November 2019

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LOCAL MARKETING PROMOTIONS

PHILKOREC – KCCP Golf Tournament Wack Wack Golf and Country Club, Mandaluyong City

21 February 2019

Oztangi Day 2019 (Australia Day – Waitangi Day)

2nd Floor Poolside, Dusti Thani, Manila 02 February 2019

Bulacan Association of Travel Agencies, Inc. (B.A.T.A.) Induction Ceremony Hapag Restaurant, Malolos Bulacan

28 February 2019

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Elks Club 16th President’s Cup Annual Golf Tournament

Canlubang Golf and Country Club, Calamba, Laguna

8 March 2019

World Travel Lifestyle Expo (WTLE2019)

SMX Convention Center, Mall of Asia Complex, Pasay City

5-7 April 2019

Easter Regatta 2019 Puerto Galera, Oriental Mindoro

19-21 April 2019

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NAITAS Travel and Trade Show SM Mall of Asia SMX Convention Center,

Pasay City 26 – 28 April 2019

Subic Sailing Club Chairman’s Cup Regatta Subic, Zambales

25 – 30 April 2019

Health and Wellness World CONFEX 2019 SMX Convention Center

26 – 28 April 2019

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Annual Joint Foreign Chambers (JFC) Network-ing Night

Grand Ballroom, The Bellevue Manila, North Bridgeway, Filinvest City, Alabang, Muntinlupa

23 May 2019

Philippines-Korea Travel Exchange (PHILKOTEX) 2019 Conrad Manila Hotel

27 June 2019

Tourism Investment Forum

Ocean 101 Beach Resort, Cloud 9, Gen. Luna, Siargao Island

27 June 2019

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Camiguin - Tourism Investment Forum Paras Beach Resort, Mambajao, Camiguin

25 July 2019

Canada Day Celebration 2019 Ballroom I, Fairmont Hotel Makati

01 July 2019

23rd PTAA Lakbay Pilipinas Mindanao Ballroom, Sofitel Philippine Plaza

Manila, Pasay City July 25, 2019

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5th Indian Independence Day Friendship Golf Tournament

Orchard Golf and Country Club, Aguinaldo Highway, Dasmariñas City, Cavite

August 16, 2019

TIEZA Tourism Enterprise Zone Investment Forum

Marand Resort and Spa, MacArthur Highway, Bauang, La Union

16 August 2019

US Coast Guard’s 229th Birthday Celebration Manila Elks Club, 7th Floor, Corinthian Plaza Bldg.

Paseo de Roxas, Makati City 03 August 2019

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30th Philippine Travel Mart SMX Convention Center, MOA Complex,

Pasay City 30 August – 1 September 2019

US Veterans Informational Forum Manila Elks Club, 7th Floor, Corinthian

Plaza Bldg. Paseo de Roxas, Makati City

24 August 2019

TIEZA Tourism Enterprise Zone Investment Forum Coco Grove Beach Resort, San Juan, Siquijor

10-12 September 2019

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Philippine International Dive Expo (PHIDEX)

Forbes Ballroom, Conrad Manila 20-22 September 2019

NLEX Tara na sa Norte Tourism and Travel Fair

Festival Mall, Alabang, Muntinlupa City 27-29 September 2019

28th Philippines-Korea Cultural Exchange Festival

Aliw Theater, CCP Complex, Pasay City September 28, 2019

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Central Luzon Expo: Experience the BEST

ASEAN Convention Center, Clark Freeport Zone, Pampanga

17-18 October 2019

Special Briefing for PCG Hawaii and List Sotheby’s International Realty Holiday Inn and Suites, Makati City,

Philippines 18 October 2019

World Trade Center Metro Manila’s (WTCMM) Networking Forum

WTCMM Lobby 14 October 2019

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4th World Travel Expo SMX Convention Center, MOA Complex, Pasay City

25-27 October 2019

Travel Business Exchange Pilipinas 2019 Clark Marriott Hotel, Pampanga

7 – 8 November 2019

All Souls Regatta 2019 Puerto Galera, Oriental Mindoro

1-3 November 2019

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Dumaguete City Tourism Office Expat Night Dumaguete City, Negros Oriental

29-30 November 2019

North Philippines Tourism and Travel Expo Event Center, SM City Clark, Clark Freeport, Pampanga

15-17 November 2019

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ADVERTISEMENTS

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TRADITIONAL AND NON-TRADITIONAL ADVERTISEMENTS

The Philippine Star The Foreign Post

Manila Fun (Korean) The New York Times (Chinese)

American Chamber of Commerce

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CNN

TVN South Korea

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Billboard outside Siargao Airport NAIA Terminal 3

Billboard outside Puerto Princesa International Airport

Cebu Pacific Aircrafts Tiger Air Aircrafts

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Taxi Ad in Seoul, Korea

Bus Ad in Korea

Search Engine Marketing

Tver (Japan’s version of Netflix)

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ACTIVITIES FOR THE STAKEHOLDERS

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Familiarization Tour (Lakbay-Aral) Activity

Las Casas Filipinas de Acuzar, Bataan 03 May 2019

Health and Wellness 2019 Luljetta;s Place, Antipolo City

29 August 2019

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Lakbay Bantayog Intramuros, Manila 27 September 2019

Re-orientation Activity Puerto Princesa, Palawan

25 April 2019

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Re-orientation Activity Casa Pilar Resort, Boracay

06 September 2019

Re-orientation Activity The Lake Hotel, Tagaytay City

29 November 2019

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Marketer’s Appreciation Night Hotel Jen Manila, Pasay City

PRA Anniversary Celebration PICC Pasay City

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Agri-Tourism Gourmet Farms, Silang, Cavite

15 November 2019

“Retirement Haven” Awarding Ceremony New World Manila Bay, Pedro Gil, Malate, Manila

25 September 2019

City of Bacolod

Liloan, Cebu

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PRA Yuletide Celebration PICC Pasay City

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PERFORMANCE SCORECARD ACCOMPLISHMENTS

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SOCIAL IMPACT PERSPECTIVE

(SM 1) ANNUAL FOREIGN CURRENCY GENERATED Retirement program as a means of strengthening the country’s foreign

currency reserve defines PRA’s existence as a GOCC. This has been the

reason why this measure has been retained as PRA’s socio-economic

impact measurement, ever since the GCG implemented the Balanced

Scorecard.

WEIGHT TARGET ACCOMPLISH-

MENT RATING

15% US$ 576 Million US$ 559 Million

8%

(RATING TO BE AD-JUSTED ONCE RAT-

ING SCALE IS RE-VISED BY THE GCG)

STAKEHOLDER PERSPECTIVE

(SM 2) PERCENTAGE OF SATISFIED CUSTOMERS

As one of the compulsory strategic measures across all GOCCs under the GCG, and to complement PRA’s ISO 9001 Certification, PRA has continued measuring the efficiency and effectiveness of the execution of its mandate and level of customer satisfaction in the various services provided by PRA, and determining the possible areas of improvement, within the rating period through a third-party consultant based on the guidelines formulated by the GCG.


MENT RATING

10% 90% 87.63% 9.74%

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(SM 3) NUMBER OF RETIREES AVAILING OF THE MERCHANT PART- NERS’ SERVICES AND PRA-ACCREDITED RETIREMENT FACILI- TIES

PRA’s industry partners, such as merchant partners (MPs) and retirement facilities (RFs), essentially support the sustainability of the SRRV program by providing the needs of the retirees and making their lives easier while in the Philippines through their goods and services. Increase in the number of industry partners is tantamount to increase in the array of services available to them countrywide. In 2019, PRA expanded the coverage to include retirees who availed the services of government partners such as Department of Finance (DOF) and other possible government partners.


MENT RATING

2.50% 3,000 Retirees

(MERCHANT PART-NERS)

3,190 Retirees (MERCHANT PART-

NERS) 2.50%

2.50% 25 Retirees

(RETIREMENT FA-CILITIES)

39 Retirees (RETIREMENT FA-

CILITIES) 2.50%

2.50% 20 Retirees

(GOVERNMENT PARTNERS)

24 Retirees (GOVERNMENT

PARTNERS) 2.50%

(SM 4) CUMULATIVE NET ENROLLMENT BY END OF THE YEAR

PRA still recognizes the strategic application of CNE in performance measurement for considering it as a two-fold success indicator. CNE en- compasses both PRA’s endeavors to bring in new retiree-members, and its efforts to encourage its members to stay in the program reflective of PRA’s faithful compliance to its mandate of promoting the Philippines as a retirement haven.

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MENT RATING

12.5% 53,787 53,265

(PARTIAL AND UN-OFFICIAL)

12.38%

FINANCIAL PERSPECTIVE

(SM 5) IMPROVE BUDGET UTILIZATION RATE

To realize PRA’s mission of making retirement in the Philipppines globally competitive, it is essential that the projects, activities and programs (PAPs) identified for the year with approved budget allocation be fulfilled and delivered completely.

For this reason, and to ensure efficient and effective use of resources, and demonstrate accountability over planned activities, PRA had maximized its utilization of the DBM-approved Corporate Operating Budget.


MENT RATING

10% Not lower than 90% but not exceeding

100%

96.54% (SUBJECT TO

ADJUSTMENT) 10%

(SM 6) IMPROVE RENEVUE GENERATION

PRA sourced its revenue from various fees collected by the agency, including the interest income from visa deposit.


MENT RATING

10% ₱929.59 Million ₱1,015.34 Million (SUBJECT TO ADJUST-

MENT)

10%

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INTERNAL PROCESS PERSPECTIVE

(SM 5) IMPROVE NET OPERATING INCOME


MENT RATING

10% ₱629.65 Million ₱619.01 Million

(SUBJECT TO ADJUST-MENT)

9.83%

(SM 8) INCREASE RETURN ON MARKETING EXPENSE

This aims to determine the return on investment on PRA’s marketing activities identified for each year. The effectiveness of PRA’s marketing strategy may be measured through the translation of marketing expendi- tures, initiatives, and efforts into income or sales. In the case of PRA, it is the translation of budgeted marketing expenses (including marketers’ fees) into revenue, or the actual collection of application fees and accredit- tation fees at the end of the year.

Marketing results to new or additional retirees, hence, passport and visa application fees are identified as the direct results of marketing activities because it reflects the income generated from the enrollment of new retir - ees.


MENT RATING

5% 303% 208%

(SUBJECT TO AD-JUSTMENT)

0%

(SM 9) RATIONALIZE MARKETING PROGRAM, ACTIVITIES, AND PRO- JECTS

SMP involves the assessment of both internal and external factors to improve the overall long-term goals. To better assess the environment, a third-party resource team was planned to facilitate this project to identi- fy PRA’s key success factors in relation to its strategic group.

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(SM 11) AUTOMATION OF PRA PROCESSES


MENT RATING

5%

Fully Operational and Functional

SRRV Servicing In-formation System

100% accomplished based on the ac-complished mod-ules implemented within the Servic-

ing Division

5%

INTERNAL PROCESS PERSPECTIVE

(SM 11) ATTAIN ISO CERTIFICATION

PRA has continued its activities to maintain its ISO 9001:2015 certification through the continuous improvement of the entirety of its quality management system to conform with ISO standards.


MENT RATING

5% Five-Year Market-

ing Plan

Project was not procured

(DEFERRED UNTIL 2020 AS DISCUSSED DURING THE TECHNICAL PANEL MEETING FOR CY 2020

PES WITH GCG)

0%

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(SM 12) IMPROVE COMPETENCY OF THE ORGANIZATION


MENT RATING

5%

Improvement in the Competency

Baseline of the Or-ganization

Improved Compe-tency Baseline of the Organization

5%

This initiative is consistent with Civil Service Commission Memorandum Circular No. 30, series of 2014, which adopts the use of HR maturity level indicators in assessing HR systems including, among others, the estab- lishment and institutionalization of agency mechanisms for competency- based qualification standards and job description, and competency assessment in the recruitment, selection, and placement of people.

* All the indicated accomplishments are subjected to the validation of the Governance Commission for GOCCS (GCG).


MENT RATING

5% Maintain ISO

9001:2015 Certifi-cate

Maintain ISO 9001:2015 Certifi-

cate 5%

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P H I L I P P I N E R E T I R E M E N T A U T H O R I T Y

29/F Citibank Tower 8741 Paseo de Roxas, Makati City

pra.gov.ph

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2019 ANNUAL REPORT - pra.gov.ph