PMT member shobe recently disclosed that Philippine pre-need firm Prudentialife is lowering the interest rate it is offering to its Pension Plan products.
In the discussion thread Prudentialife Pension Plan to cut pension interest rate from 12% p.a. to 6% p.a., shobe shared that her mother received a letter from Prudentialife saying the interest rate applied to monthly pension benefits will be cut by half.
The pension plan product used to offer 12% interest per annum but starting October 1, the new adjusted rate is 6% per annum.
Excerpt of the Prudentialife letter below.