Taipei - From January 1, 2012, teachers from junior high and elementary schools are required to pay tax on their salary, and next year they will need to file their income tax returns. This follows on from the recent introduction of a new pension system. In response, Manulife has formed an advisory group to help teachers understand the income tax system and their retirement planning needs. With Manulife’s professional support, teachers will benefit by better understanding the differences between the new and the old pension systems and will be able to work out their retirement savings gap.
For most teachers, net incomes have been lowered as a result of the amendments in government tax and pension regulations. Manulife has selected from among its most expert and experienced advisors to help teachers take advantage of the tax benefits of insurance and appreciate the importance of saving for retirement, including by calculating their income replacement rate for retirement savings.
Every member of the Advisory Group has completed special training and fully-certified in their expertise. They are proficient in pension calculations, tax-related services and financial planning, and are in a great position to advise teachers on their tax-filing and retirement planning.
In addition, Manulife has launched the “Manulife VIP Teachers Plan,” presenting an array of insurance products and special offers that provide teachers with effective insurance and investment programs. School teachers are welcome to invite members from the Manulife Teachers Advisory Group to give talks on the Teacher’s Plan for more information.
Manulife has long been an expert in retirement planning. In 2004, nearly 100 professional financial advisors from Manulife formed the Labor Pension Committee when new regulations on labor pension came into effect, providing consultation services to the workforce across Taiwan. In 2008, Manulife established the Labor Annuity Insurance Committee to help the public understand and calculate benefits under the various government and private pensions. For years, Manulife has been the leading brand in retirement planning. Manulife Financial is the largest provider of 401(k) retirement savings plans in the U.S.A. and the second largest provider of the Mandatory Provident Fund Schemes in Hong Kong. Manulife is renowned in professional retirement planning and related services around the world.
For more information on Manulife’s VIP Teacher’s Plan, please visit: http://www.manulife.com.tw/project/teacher/ or call 0800-888-166.
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$512 billion (US$512 billion) as at March 31, 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.