PNB and Phoenix Petroleum sign Multi-Employer Retirement Fund Agreement

Philippine National Bank Trust Banking Group OIC and FVP Atty. Josephine E. Jolejole and Phoenix Petroleum Philippines, Inc. Chairman, Domingo T. Uy seal the retirement fund agreement with a handshake. With them are (from left) PNB Trust Marketing Officer Bong Magnaye and Business Development Head VP Joy Jasmin Santos; Phoenix Petroleum Philippines, Inc. President and CEO Dennis A. Uy and Chief Finance Officer Joseph L. Ong.

Philippine National Bank (PNB) and Phoenix Petroleum Philippines, Inc. (PNX) recently signed an agreement to set-up the retirement benefit plan for employees of PNX and its subsidiary companies under the PNB Employee Enrichment Solutions (PNB EES) program.

The agreement was signed in June by PNB OIC & FVP, Atty. Josephine E. Jolejole and Business Development Head & VP Joy Jasmin R. Santos, Phoenix Petroleum Chairman Domingo T. Uy, President and CEO Dennis A. Uy and Chief Finance Officer Joseph L. Ong at the Manila Office of PNX in Bonifacio Global City, Taguig.

The fund, established as a Phoenix Multi-employer Retirement Plan, is a non-contributory plan for the retirement, disability, death or separation benefits of the eligible employees or beneficiaries of PNX and its subsidiaries.

PNB Employee Enrichment Solutions (EES) is a retirement benefit program designed to assist companies address their short- and long-term talent management concerns through highly customized plans. One of the top trust institutions in the industry, PNB Trust Banking Group offers a diverse array of trust and wealth management products and services including its Global Filipino and Prime Peso Money Market UITFs ranked 1st and 5th respectively among the best performing money market funds for the 2nd quarter of 2014.

The leading independent and fastest-growing oil company in the country, Phoenix Petroleum Philippines, Inc. (PNX) is engaged primarily in the business of retail and commercial sales and trading of refined petroleum products and lubricants, operation of oil depots, storage and transport services.