PNB to manage Nippon Paint retirement fund

Signing the agreement for the Nippon Paint Philippines (NPP) employees’ retirement fund are (L-R): Gerry G. Sebastian, NPP Asst. General Manager; Mark Owen Webb, NPP President; Roberto S. Vergara, PNB Chief Trust Officer and Trust Banking Group Head; and Joy Jasmin R. Santos, PNB Corporate Trust Head.

The Philippine National Bank (SEC: PNB), through its Trust Banking Group, and Nippon Paint Philippines, Inc. (NPP) signed an agreement to set up a retirement benefit plan for NPP employees under the PNB Employee Enrichment Solutions (PNB EES) program. The signing ceremony was held on August 10 in Cabuyao City, Laguna.

The NPP Employees’ Retirement Plan is a non-contributory plan for the retirement, disability, and death of separation benefits of eligible NPP employees or their beneficiaries.

PNB EES is a customizable retirement benefit program that provides companies with short- and long-term solutions for talent management concerns. The product is offered through PNB’s Trust Banking Group, one of the country’s leading trust institutions offering a diverse portfolio of trust and wealth management solutions. Among the other products offered by the group are the Global Filipino and Prime Peso Money Market UITFs.

ISO-certified Nippon Paint Philippines is a leading paint manufacturer in the country with a wide distribution network selling paints and coatings for a full range of industries including automotive and automotive refinishing, general household items and appliances, steel and coil coat, motorcycles, marine, semi-conductors, heavy construction equipment, and relatively all industrial industries. NPP also manufactures wood coatings and varnishes.