The CEAP Retirement Plan is the Retirement Program for CEAP accredited member schools. It was established on July 1, 1968 upon the initiative of the CEAP National Board with 22 schools committing to join the Plan during the CEAP Retirement Board’s first meeting held on September 15, 1968. It now has 625 participating institutions and 30,590 individual members.

The Plan was formally approved by the Bureau of Internal Revenue as a qualified Plan under R.A. 4917 on April 11, 1969, entitling it to certain tax exemptions. The Plan has undergone several amendments, the latest of which was on January 21, 1999 and later on qualified and approved by the Bureau of Internal Revenue on March 9, 2001.

The Objective of the Plan is to establish on the basis of private initiative a multi-employer retirement plan that would promote institutional loyalty and provide retirement and auxiliary benefits for teachers and other employees of Catholic schools, over and above the retirement benefits under the Pag-Ibig Fund and the Social Security System.

The Plan is provident and non-contributory. The monthly contributions of the Participating Employers provide their employees with the assurance that their retirement benefits are being funded regularly during their years of service. Employees under certain conditions are allowed to make their own personal contributions towards their retirement.

When the Plan was conceived and established in 1968, there was no law requiring private employers, including private schools, colleges and universities, to pay retirement benefits to their employees. It even preceded the Bureau of Private Schools Memorandum No. 99, series of 1974 and Memorandum No. 127, series of 1974 on August 22, 1974 and October 29, 1974 respectively, requiring establishment or adoption of a retirement plan for the teaching and non-teaching personnel in each private school to enhance careerism which was bolstered by PD No. 451.

Organization

The Retirement Plan is administered by a 12-member Retirement Commission, headed by a Chairperson, appointed by the CEAP National Board, whose main task relates to the operation and administration of the Fund.

The CEAP President, CEAP Executive Director and CEAP Treasurer are ex-officio members of the Commission.

There are four (4) Members who represent the National Capital Region, Luzon, Visayas and Mindanao.

There are five (5) Members, including the Chairperson, who comprise the Investment Committee, whose main responsibility pertains to the Fund’s investments.

The Investment Committee approves investment policies and guidelines; approves asset allocation strategies and portfolio construction; approves performance measures/benchmarks; approves allocation of funds to external fund managers; approves appointment of new external fund managers and removal of existing external fund managers; and reviews and endorses broad policy decisions to the Retirement Commission.
The Retirement Plan Office, headed by a Director and its five-member staff, implements the directions and policies set forth by the Commission.

Operations

The administrative and operational activities of the Retirement Plan Office are financed by a budget approved by the Retirement Commission and the National Board from gross income generated by the Fund’s investments.

Fund Level

With a Fund value of a little over P 4,000 at the end of December 1968, the Fund’s assets are now valued at P 2.802 billion as of December 31, 2007.

Vision

A Retirement Plan that would provide Participating Institutions, especially the small schools which comprise majority of the Plan’s membership, with a safe and efficient vehicle for amortizing the cost of the retirement, separation and death benefits of their academic and non-academic employees, in compliance with the New Retirement Law providing a lump sum retirement benefit of one-half month pay for every year of service

Mission

The CEAP Retirement Plan

Aims to be the Primary Retirement Plan for all Catholic schools, colleges and universities under the CEAP umbrella.
Strives to build and strengthen linkages with its Bank Partners, as well as other financial institutions, government organizations and corporate entities, in delivering value-added services with distinctive quality to its members.
Endeavors to be relevant with the realities of the times, responsive to the ever changing needs of its stakeholders, as well as exercising judicious fiduciary responsibility in providing fair returns and growth for the monies entrusted to its care.
Shall be cognizant of its role in society as one of the pillars in the private retirement fund industry and shall remain committed to the tenets of a corporate citizen by strictly adhering to its Code of Corporate Governance.

Programs and Services

The CEAP Retirement Plan provides programs and services to its participating institutions and individual members in the following areas:

Advocacy

The adoption of the Big Brother/Small Brother Paradigm that brings into the CEAP Retirement umbrella small CEAP member schools that allows them to obtain better financial returns for their funds than if they were to do it individually.

Annual Assembly

The CEAP Retirement Plan annually holds a general assembly for its participating institutions every September to foster camaraderie and goodwill and at the same time be informed on matters affecting the Retirement Fund as it relates to fund administration, economic/financial situations and legal and tax issues.

Plan Amendments

The CEAP Retirement Plan is updated and amended as the need arises to suit the requirements of its members and be in tune with prevailing economic/financial climate.

Savings Mobilization

The strategic partnership with First Metro Investment Corporation and Marist Development Foundation to put up Save and Learn Mutual Funds provides CEAP member schools and their employees’ families an alternative mechanism to save for the future, as well as an avenue for better financial returns on their institutional and personal savings, thus allowing them to have a direct hand in the development of capital markets and spurring economic development in the country.

Technological Advancement/On-line Capability

An upgraded system in both the Fund’s back office administration as well as in the Retirement Office’s information technology capability aims to improve the overall quality of its services to its stakeholders whereby enhanced service quality comes in the form of improved benefits, attractive fund yields, timely and relevant information, reliable data and reports and streamlined procedures.

Retirement Plan Website

An informative and interactive website (www.ceapretirement.org) for the Plan’s stakeholders with links to the website of the CEAP National Office, ASC Philippines Inc. and First Metro Asset Management Inc.

Loan Window

A multi-purpose loan facility for qualified CEAP Retirement Plan participants through the Fund’s Bank Partners.

Community Relations Program

A college scholarship program in partnership with SM Foundation, Inc. and ASC Philippines, Inc. for qualified but underprivileged high school students of CEAP Retirement Plan member schools.