Italy’s Maccaferri Group signed an agreement with listed Philippine National Bank of taipan Lucio Tan to set up a retirement benefit plan for the group’s employees.
The signing ceremony of the memorandum of agreement (MOA) was led by PNB president Florido Casuela and Maccaferri country managing director Thomas Wintermahr at the PNB Financial Center in Pasay City last February 13.
The Maccaferri Group Employees’ Retirement Plan is a non-contributory plan that covers retirement, disability, death, and separation benefits for eligible employees or their qualified beneficiaries.
The Maccaferri Group includes three companies: Maccaferri Philippines Inc. (MPI), Maccaferri Philippines Manufacturing Inc., and Infratex Environmental Services Inc.
MPI is a leading international provider of advanced solutions to the civil, geotechnical, and environmental construction markets. With headquarters based in Italy, it is present in more than 130 countries and employs more than 3,000 employees globally.
The retirement agreement was made possible through the PNB Trust Banking Group, which has been providing retirement fund management services to around 300 different companies.
With assets under management over P150 billion, PNB Trust Banking Group also offers investment management, fiduciary services, and PNB Investment Funds.
