1. When will I get my Pension benefit?

The Pension Benefit, which is also known as Maturity Value, will be released to you based on the policy's Maturity Date as shown on the Policy Contract (provided that the plan has no outstanding loan or has not been redated).

2. Where can I proceed to avail of my Pension benefit?

You may visit our Pension Loans and Benefits Administration Department (PBD) at 118 Gamboa Street, Legaspi Village, Makati City.

3. What are the requirements in availing my Pension benefit?

In availing your benefit, the following must be submitted:
- Original Certificate of Full Payment (CFP)
- Original Policy Contract
- Application for Pension Benefit*
- Release and Quit Claim* (for Lump Sum settlement option)
- Latest Community Tax Certificate / Residence Certificate
- Valid Identification Card (i.e., company ID, passport, driver's license)

* Form/s available at Prudentialife branches and can also be downloaded at our PH E-Services Page.

4. What are my options aside from receiving the maturity benefit in lump sum?

Aside from the lump sum, you may claim your pension through:

For plans issued prior to July, 2002
a. Monthly Pension for 120 months which may be extended for another 60 months. The maturity value of the plan shall be released 30 days after the payment of the last monthly pension.
b. Partial withdrawal with a reduced monthly pension for 120 months which may be extended for another 60 months. The balance of the maturity value shall be released 30 days after the last monthly pension.

For plans issued beginning July, 2002
a. Interest on the Maturity Value at the rate agreed upon with Prudentialife at maturity date. You shall receive payment depending on the following modes of payments: annually, semi-annually, quarterly or monthly. Should you subsequently decide to withdraw the Maturity Value, you may do so, but only upon prior written notice of three (3) months to Prudentialife.
b. Partial withdrawal from the Maturity Value and receive interest on the remaining Maturity value at the rate agreed upon with Prudentialife at maturity date. You shall receive payment depending on the following modes of payment: annually, semi-annually, quarterly or monthly. Should the Planholder subsequently decide to withdraw the Maturity Value, he may do so, but only upon prior written notice of three (3) months to Prudentialife.

5. Who chooses the settlement option?

Only you, the planholder, can decide on the option by which the Company will release the Pension Benefit. However, if no choice is made, your pension will be released either through the monthly pension option (for plans issued up to June, 2002) or the lump sum option (for plans issued beginning July 2002)

6. How long does it take to claim my benefit?

Pension holders may claim their pension benefit in:
One hour - if all requirements are submitted directly to the Pension Loans and Benefits Department (PBD) at the Head Office (PLPI Bldg, 118 Gamboa St, Legaspi Village, Makati City).
At least seven working days - if all requirements are submitted through any Metro Manila Branch.
At least 10 working days - if all requirements are submitted through any provincial branch office.

7. Can I send a representative to claim my benefit?

Yes, you may execute a Special Power of Attorney (SPA) declaring the name of your representative and the transactions you wish to assign to him. Together with the SPA, you must submit your Residence Certificate and any valid Identification Card. Your representative must also present a valid Identification Card.

8. What happens if I pass away before my plan matures?

As long as the plan is up to date, your designated beneficiary may claim pension benefits upon submission of all the necessary documents mentioned in item #3. The following additional documents will also be required:

- Marriage Contract (if beneficiary is spouse of the planholder)
- Birth Certificate of the beneficiary
- Death Certificate of the planholder
- Valid Identification Card of the beneficiary

9. Can my designated beneficiary who is a minor claim his/her pension benefit?

Yes, for claims of Php50,000 and below, his/her guardian will have to submit a notarized Affidavit of Guardianship together with the other requirements earlier mentioned. However, for claims exceeding Php50,000, an approved Petition from Court is required.

1. When is a plan considered lapsed?

A plan is considered lapsed when an installment is not paid within 2 months from the due date.

2. What happens when my plan lapses?

Your lapsed plan is without force and effect. This means that you cannot enjoy the benefits and protection it offers. It cannot be amended, transferred or terminated.

3. How do I reinstate my lapsed plan?

You may reinstate your plan within a period of two years from end of grace period under the following options:

Updating - Under this option, you will be required to pay in full all the installments in arrears as well as the corresponding penalty charges and reinstatement fee.
Redating - For reinstatement by redating, you will be required to pay one regular installment and the reinstatement fee. The maturity date of the plan will be moved to a later date corresponding to the number of months your plan is in arrears. Likewise, the succeeding due dates shall depend on the effectivity date the plan was reinstated.

4. What are the requirements to reinstate my lapsed pension plan?

To reinstate a lapsed plan by updating, you will be required to:
1. Fill out and sign Reinstatement form*. For plans with a co-planholder, the co-planholder is required to sign in the Reinstatement form.
2. Pay arrearages, penalty charges, and reinstatement fee

To reinstate by redating, you will be required to:
1. Fill-out and sign Reinstatement form*. For plans with co-planholder, the co-planholder is required to sign in the reinstatement form.
2. Pay one regular installment and reinstatement fee.


* Form/s available at Prudentialife branches and can also be downloaded at our PH E-Services Page.

5. Where can I reinstate my lapsed plan?

You may go to any Prudentialife branch office nearest you or to the Credit & Collection Dept at the PLPI Head Office, 2nd Floor, 118 Gamboa Street, Legaspi Village, Makati City.