Taipei – Manulife Taiwan’s Teachers Advisory Group has hit the road again to help teachers calculate their retirement savings gap in preparation for the educators’ first tax filing in 2013. As a reliable and trustworthy retirement planning expert, Manulife help educators plan a worry-free retirement life with the “Manulife VIP Teachers Plan."
In August, the Examination Yuan passed the draft amendment of the Government Employees’ and School Staffs’ Insurance Act (GESSI) for final approval by the Legislative Yuan. Under the amendment, income replacement rate of pensioners’ monthly retirement incomes will be capped at 80 per cent. This change will affect nearly 600,000 staff in the government sector, faculty in public and private schools and government-sponsor enterprises.
The Advisory Group was first launched in May this year, offering seminars and consultation sessions to junior high and elementary school teachers, who are due to file their first income tax in 2013. The seminars cover income tax, retirement scheme for teachers and second generation national health insurance and up until the end of August, Manulife had held 15 seminars and provided consulting to teachers across Taiwan. During the seminars, not only were teachers keen on learning more about tax filing in 2013, they also sought after information on pension calculation and preparation.
With the passing of the draft amendment of the GESSI recently, Manulife has received many requests from schools to host seminars again from September. The professional tax and financial planning advices from members of the Advisory Group will allow teachers to better understand differences between the new and the old pension systems and plan for their retirement.
Manulife will continue to offer seminars until January 31, 2013. Teachers and schools can request for seminars according to their schedules, and session hours may count toward their minimum annual training hours required by the government. In addition, the “Manulife VIP Teachers Plan” offers new policyholders an expedited underwriting process, overseas emergency medical support, up to 5 per cent discount on premiums and a welcome package for new policyholders,1 among others.
For more information on Manulife’s VIP Teacher’s Plan, please visit: http://www.manulife.com.tw/project/teacher/ or call 0800-888-166.
Note 1: For more information on Manulife’s VIP Teacher’s Plan or to download product DM, please visit: http://www.manulife.com.tw/project/teacher/.
About Manulife Financial
Manulife Financial is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. In 2012, we celebrate 125 years of providing clients strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Funds under management by Manulife Financial and its subsidiaries were C$514 billion (US$504 billion) as at June 30, 2012. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States.
Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ on the SEHK. Manulife Financial can be found on the Internet at manulife.com.