Tuesday, April 19, 2005

Organizational Meeting for Pacific Planholders

General Meeting of interested Pacific Plan Holders on Saturday, April 23 at 8:00-12:00, St. Paul College Gym, Meralco Avenue corner St. Paul Drive, Pasig City. Registration starts at 7:00 am.

45 Comments:

At Tuesday, April 19, 2005 3:03:00 PM, Anonymous Anonymous said...

Thank you very much for iniating this action, we truly appreciate it. How I wish that CAP planholders would also have one! I too am one of the many brokenhearted and desperate parents waiting for reimbursement from CAP for 2nd sem 2004 filed nov. 2004 stamped for payment dec. 2004 and later moved to april 2005...sadly, no payment has been released to us todate! Lining up for checks from these pre-need companies is getting to be habit already!

 
At Tuesday, April 19, 2005 3:15:00 PM, Anonymous Anonymous said...

You can always band together..there is strength in numbers.

But you are really in a better situation because Sobrepena of CAP still plans to honor his commimtent to CAPplanholders even if delayed, unlike Pacific Plans of the Yuchengco Group of Companies which no longer intends to honor its contractual obligation to its planholders.

 
At Tuesday, April 19, 2005 4:55:00 PM, Anonymous wmb said...

Thanks for posting info on meeting.

We look forward to taking concerted action on this disaster.

 
At Tuesday, April 19, 2005 10:58:00 PM, Anonymous Anonymous said...

GOOD ACTION!!! But should publish or pa broadcast sa radio, if not many people will not know about this.
Especially now that media seems to have been bribed by the yuchengcos na. If someone can start a text brigade, it will also help
why not try posting in yahoo group?

 
At Tuesday, April 19, 2005 11:06:00 PM, Anonymous Anonymous said...

if i may make a suggestion, can u consolidate all comments in one place nalang? so that wont have to check the comments being made for each topic? Unlike if in one box lang just look at the latest. Dont get me wrong, i really appreciate what u are doing. But just maybe those who newly discovered this website would want to contribute their comments more. Thanks

 
At Tuesday, April 19, 2005 11:21:00 PM, Anonymous Anonymous said...

suggestion to core group organizing this meeting, if you need help for this meeting - pls let me know where i can contact you guys. lets get people to start volunteering also. it is important we are well organized. do we have a systematic method already of gathering all necessary info and data in case we need to go to court ?

 
At Tuesday, April 19, 2005 11:41:00 PM, Anonymous Anonymous said...

I will surely text my friends who are planholders about this meeting. We really have to unite and show the Yuchengco's that what they did is really below the belt.

 
At Tuesday, April 19, 2005 11:57:00 PM, Anonymous Anonymous said...

Thanks for putting up this site and for organizing the meeting.

Not meaning to be paranoid or anything like that, but can somebody double check the identities of the attendees on Saturday? Just to make sure there are no corporate "spies" from the Yuchengco group.

 
At Wednesday, April 20, 2005 12:26:00 AM, Anonymous Anonymous said...

This comment has been removed by a blog administrator.

 
At Wednesday, April 20, 2005 12:38:00 AM, Anonymous Anonymous said...

This is the same group. The meeting venue has just been changed from Don Bosco Makati to St. Paul College Pasig at St. Paul Road (at the back of Renaissance).

We call the group of the disenfranchised planholders - "PEP Coalition".

 
At Wednesday, April 20, 2005 1:14:00 AM, Anonymous Anonymous said...

thanks for clarifying. we were confused why there wer 2 venue. Anyway, suggest please tx the change of venue to all those you tx before so they won't get discouraged when they go there on sat. and see no one there. they might think its a prank.
also please publish a notice in the newspaper for this meeting so we will be more in numbers and make more noise. Thanks

 
At Wednesday, April 20, 2005 1:20:00 AM, Anonymous Anonymous said...

There was a text sent out last night stating the new venue. Let's continue the text brigade to inform the planholders about the meeting and more importantly, about this website. Everyone is encouraged to visit the website regularly to be updated and to provide their thoughts and comments.

 
At Wednesday, April 20, 2005 9:09:00 AM, Anonymous Anonymous said...

Pacific Plans has succeeded best in one thing - IN ITS EVIL PLOT TO KILL OUR DREAMS AND OUR CHILDREN'S!



Taken from Sun STar - April 19 2005

Pacific Plans to release money only until May 7

PLAN HOLDERS of Pacific Plans, a Yuchengco-owned pre-need company, have until May 7 to claim the company’s payments for tuition due for the first semester of this year.

According to Pacific Plans company spokesperson Janet Tecson, Pacific Plans will not release any more payments to its plan holders after that date until July 2010.

“The court has allowed us (Pacific Plans) to stop all payments until our proposed rehabilitation plan will be approved. (But) we requested to pay for the first semester tuition claims of our plan holders,” she told Sun.Star in a long distance telephone interview.

Eligible

Tecson said some 16,000 of Pacific Plan’s 34,000 plan holders are eligible to claim the payment for the tuition for the first semester of this year.

Under a petition for rehabilitation filed in court by Pacific Plans, the company proposed to return the money of all its plan holders, plus a return of seven percent per annum from the date of full payment up to July 2010, the date of maturity of most of the bonds acquired by Pacific Plans.

A bond is a long-term debt instrument of a company or the government.
According to a report, Pacific Plans acquired bonds with a face value of $51.8 million from the National Power Corp.

“We are financially sound. We are just having a liquidity problem. We don’t have enough cash at present to pay our obligations because the bonds we have will mature in 2010 yet.

“Once our rehabilitation plan is approved, we will ask our clients to surrender their open-ended contract, and we will replace them with a fixed contract. We will continue to sell policies with fixed
contracts,” Tecson said.

In an open-ended contract, pre-need companies are obliged to pay the amount of the tuition, whatever it might be.

Tecson said Pacific Plans has not been selling open-ended contracts since 1992.

She said Pacific Plans has sent letters to all its plan holders informing them of the status of the company and how much the company will pay them in 2010.

Pacific Plans, the first pre-need company in the country, was established in 1967. It is a subsidiary of Great Pacific Assurance Corp. (JBN)

************

To the Yuchengcos:

we all hope that the silence and all this ambiguity in the air you have been serving us the past days with respect to the TRAGIC DEATH of our dreams will after all serve us good --- we do hope that you are taking all this 'mum' time formulating measures to bring us all back on track...

Go give us back our dreams and well, redeem your name!

 
At Wednesday, April 20, 2005 1:04:00 PM, Anonymous Anonymous said...

I assume that Saturday's meeting will be for the planholders, experts and resource persons only to come up with an action plan. Afterwhich, we should demand a meeting with the YGC management (NOT ONLY ATTY. TECSON WHO WAS NOT ADDRESSING THE QUESTIONS POSED BY A COMPLAINANT DURING A RADIO INTERVIEW YESTERDAY WITH ARNOLD CLAVIO AT DZBB). They have to explain fully what happened to PPI that led to this predicament. The disenfranchised planholders deserve this. They have to face us and be accountable for their actions. They need to answer all the questions that have been bothering our minds. All that we've seen were "scripted" statements from this ATTY. TECSON (wala ka bang conscience, baka ka ma-karma!). We're definite that there's really more than what she's saying. Not even the media, like our supposedly giant networks, has been covering this issue the way it should be.

GMA News and Current Affairs says - "Kami ay naghahatid sa inyo ng balitang pawang katotohanan lamang, walang kasinungalingan, walang kinikilingan, walang prinoprotektahan". We have yet to see this! And ABS-CBN News and Current Affairs claim na sila ay "Naglilingkod Sa Atin Saan Man Sa Mundo". How can this be possible when they can't even feature this Yuchengco scam, which is right here in our very own country. They have their news crews everyday at the PPI office in Kamagong. But for several days now, the on-goings at this place have never been shown on TV. These networks and their media people always brag about the service that they provide the people. Now is the time to prove this!!!

 
At Wednesday, April 20, 2005 1:15:00 PM, Anonymous Anonymous said...

Perhaps, for Atty. Tecson, TRABAHO LANG ITO, WALANG PERSONALAN. But this time, shouldn't it be the other way around -- This is now something on a personal level, thus, forget for the meantime the benefits that you will derive from what you're doing right now. It's time to have COMPASSION and not think about your CAREER and perhaps monetary gain. Especially that what is at stake here is the future of thousands of children. I suppose you are also a mother (unless otherwise), so you should sympathize with us and not with those greedy Yuchengcos. They already have a lot of wealth (and power!) - when will they get contended???

 
At Wednesday, April 20, 2005 6:00:00 PM, Anonymous Anonymous said...

I will attend this meeting. In fact i have already distributed flyers today at the Lifetime Plans Office this morning to inform our fellow plan holders.We must do our best to attract the best and most honest and committed legal minds to take up our cause and let us be ready to take this issue to the streets,Congress, Senate and media even in the international scene to show the Yuchengco's that we planholders are no pushover.Let us all unite!!!

 
At Wednesday, April 20, 2005 6:32:00 PM, Anonymous Anonymous said...

we save for the future of our children. we entrusted those savings through Pacific Plans which was no. 1 in the industry before.God toke my husband in His kingdom 2 years ago left with 3 children with PEP plans. All of them are now availing 2 nursing students and 1 IT students. Now Pacific Plans, Inc toke my children education fund.
A. Yuchengco, Ms. Helen Dy,Mrs. Liway Gener where is your hearth. A.Yuchengco where is the so called The YGC Group of Companies. Where is the Dragon of the East.

H. Y De, A. Yuchengco, L. Gener, One day you will face your creator and He will ask you "what have you done on earth"?. you will answer Him "I destroyed the future of many children through the Pacific Plans, Inc I own". A.Yuchengco, H. Y Dy,L. Gener think about it.

We hardly work and save not for you Yuchengcos but for our children. ssshhhhaaaammmmeeee you.
We know very much that you are influential thourgh out Asia. But now the Business world know you now how greedy you are financially. Hindi mo naman madadala ang kayamanan mo sa impyerno o kahit sa langit pa.

 
At Wednesday, April 20, 2005 6:38:00 PM, Anonymous Anonymous said...

Liwayway Gawgaw Gener,
Shame you, before Pacific Plans, was no. 1 dumating ka lang nagkagulo na ang buong compania hanggang bumagsak where is your galing na sinasabi mo!!!!magaling ka ba or bobo ka?

 
At Thursday, April 21, 2005 1:54:00 AM, Anonymous Anonymous said...

Let's support all action to regain our dream for our children's future. A. Yuchengco, the owner of Pacific Plan Inc and Mapua Institute of Technology (malayan college by year 2010) they should make all beneficiary of traditional plan a "SCHOLAR" to MTI instead of issuing a new policy based on the contract price plus interest to mature on 2010. PPI already used our money in their business for the past years and they created a new company.

TO A. YUCHENCO,

MAKE OUR CHILDREN SCHOLARS OF YOUR SCHOOLS "MAPUA INTSTITUE OF TECHNOLOGY (MALAYAN COLLEGE IN THE FUTURE) INSTEAD OF YOUR PLAN.

TO MAKATI COURT JUDGE,

PLEASE MAKE YOUR DECISION IN FAVOR OF ALL THE PLAN HOLDERS NOT IN FAVOR OF THE COMPANY PPI. DI SILA LUGI, PLANHOLDERS ANG MALULUGI DITO HINDI SI YUCHENGO. AYAW NIYA MAGPALUGI. DAPAT LAHAT (OWNER AND THE BOARD) MANAGOT SA BATAS AT IKULONG SA KASONG PANLOLOKO SA KAPWA.


LET'S SUPPORT ALL ACTION AGAINST THE YUCHENGCO AND THE YUCHENGCO.

 
At Thursday, April 21, 2005 11:35:00 AM, Anonymous Carlos Uy, Jr. said...

I will be attending your meeting this saturday but wonder if you will be providing the attendees with an agenda beforhand. May I suggest you do as surely we need not listen to the individual woes of the participants but rather concentrate on the main issues.

Main issues which could of interest:
- Does the rehabilitation plan need to be agreed to by the planholders (main parties in interest)? If so would their acceptance of the offered payment be construed as an agreement to their plan? Was this communicated to them?
- Was not the transfer of the fixed plans to Lifetime equal to "stripping" the company of its good accounts and leaving it with the problematic ones?
- Did PPI adequately set up the reserves to answer for their obligations? Were duly certified by the company actuary? - Did their past Financial Statements accurately reflect the condition of the company?
- Did PPI ever pay dividends to their shareholders? What is their history of dividend payments?

Depending on the findings of the group, there may be valid grounds to hold the corporate shareholders, its board of directors and officers, as well as their external auditors responsible and culpable for the downfall of PPI.

 
At Thursday, April 21, 2005 2:53:00 PM, Anonymous Anonymous said...

I just received a text message from a friend from lifetime plans re: a meeting set-up by PACIFIC PLANS on SATURDAY.

It goes:

"Pls inform as many PEPTRAD PHs of Pcacific Plans, Inc dat der wil b a PEPTRAD Planholder's Orientation at ACCEED (beside AIM Bldg) Paseo de Roxas cor Benavidez Sts. n dis will be 9AM on Saturday, 23 April. F dey want to know d real story on PPI's Rehab Petition, pls ask dem 2 b der. Tnx!"

AM I JUST BEING PARANOID? OR COULD IT BE POSSIBLE THAT THEY ARE TRYING TO GET PEOPLE AWAY FROM THE ST. PAUL PASIG MEETING TO MAKE IT APPEAR THAT NOT TOO MANY PEOPLE ARE REALLY INTERESTED IN COMPLAINING ABOUT THIS WHOLE SCAM?

MY AGENT ALSO CALLED ME TO OFFER TO GET MY CHECK FROM KAMAGONG FOR ME SO I CAN JUST PICK IT UP AT GREPA. PARA DAW HINDI NA AKO PUMILA...COULD IT BE PACIFIC'S WAY OF KEEPING PLANHOLDERS' FROM SIGNING
"RECEIVED UNDER PROTEST" IN THE VOUCHERS?

TELL ME - DO I SOUND PARANOID?

I'VE BEEN DECEIVED THREE TIMES OVER WITH THREE TRADITIONAL PLANS -ELEMENTARY, HIGH SCHOOL AND COLLEGE!!! SINONG HINDI MAPAPARANOID DUN?

 
At Thursday, April 21, 2005 5:04:00 PM, Anonymous Anonymous said...

Pacific Plans Inc. had a previous plan already since last year before with this scam, because they had change their name to Lifetime Plans Inc, saying that the fixed value was transferred to Lifetime Plans Inc While only Pep Trad remain to Pacific Plans Inc. Does Yuchengco means they won't ruin their name and shall we trust again their companies ?

 
At Thursday, April 21, 2005 5:07:00 PM, Anonymous Anonymous said...

ANO TO?????LIFETIME PANLOLOKO............

 
At Friday, April 22, 2005 8:59:00 AM, Anonymous Anonymous said...

Just want to inform you that a friend who is also a plan holder has arranged for ABS CBN and GMA7 to cover the meeting tommorow. I suggest to organizers to prepare materials to maximize benefit for our cause/case from media coverage.

 
At Friday, April 22, 2005 9:29:00 AM, Anonymous Anonymous said...

just a reminder! we have also to be careful beause they maybe a lot of ppi insiders spying on the said meeting at st paul. i guess the meeting organized by ppi is really to transfer our focus!!! talagang organisadong-organisadong sila!!!! but i haven't received that text yet, considering i have a pending complaint!!!

 
At Friday, April 22, 2005 10:19:00 AM, Anonymous Anonymous said...

Dear all:

The No To PEP 2010 organization was organized in April 2005 by Pacific Education Plan (PEP) Holders who are against the proposal of Pacific Plans to revise, reduce, eliminate, and postpone the benefits that are due to the plan holders as per the original contract between Pacific Plans and the plan holders. No To PEP 2010 mission is to protect and advocate the cause, rights and priveleges of all currently and first time availing plan holders.

If you would like to subscribe to this group:

1. visit
http://groups.yahoo.com/group/no2pep2010/join

-OR-

2. send email to no2pep2010-subscribe@yahoogroups.com

Please pass on to other planholders and friends. Not too many people know about it yet, in fact there are only 4 members. Let's get this thing up and running so we can all communicate with one another and get updated fast....

We need each other's support.

Thank you.

 
At Friday, April 22, 2005 11:27:00 PM, Blogger anonymous said...

Lifetime Poachers == Yuchengcos. hope you get a taste of your own medicine very soon!!!! And for all your generations, may you bear the karma of whatyou have done to your innocent scholars!!!!

 
At Friday, April 22, 2005 11:29:00 PM, Anonymous Anonymous said...

Ang pikon, talo. That is a truism we are all familiar with. In this fight with the powerful THIEVES who have stolen our kids' future, we must be deliberate and methodical in getting back at them. A few ideas...

point 1. There are supposedly 35,000 of us traditional plan holders who were shortchanged by YGC. If just 50% of us gave P100 each, we can raise P1.7m which can buy several big billboard spaces on EDSA, a couple of full page ads and quite a few leaflets we can hand out to publicize how we were cheated by the crooks of YGC. Lawyers among us can screen what we will put in the billboards for any libelous materials. Admen/copywriters can do the copy that will be put out in the billboards/full page ads for maximum effect.

point 2. All these YGC people live somewhere, belong to neighborhood associations, social clubs etc. Lightning rallies/pickets near the gates of their communities or even in their front gates identifying them as the THIEVES who stole our kids' fututre so as to expose them to social pressure could produce results.again, advise from our lawyer friends on the limits of free expression would be appreciated.

point 3. handing out leaflets while walking the major malls or even in the vicinity of YGC businesses can publicize our battle and alert the people to the brutal and heartless character of the YGC.

We can not fight the YGC in an arena they control. We can not fight them on equal terms in the courts, not in media, certainly not in government (witness the inutile SEC). No matter how hard we try, we will always lose. We can only win if we go thru avenues they have no control over.

Please think about this. I am sure there are other ideas on how to get back at the THIEVES who stole our kids' future without going thru the avenues they control.

 
At Friday, April 22, 2005 11:57:00 PM, Anonymous Anonymous said...

Money talks....Money Rules.....

Paging hitmen of Alex Boncayao Brigade......

 
At Saturday, April 23, 2005 12:10:00 AM, Anonymous Anonymous said...

Hey as you said money talks...money rules...
baka naman pati ABB kanila na rin! Take note: (BAKA)

 
At Saturday, April 23, 2005 12:44:00 AM, Anonymous Anonymous said...

well maybe Mr. Bangungot will rest upon one of the Yuchonggos

 
At Saturday, April 23, 2005 10:22:00 PM, Anonymous Anonymous said...

Mr. Yuhengco and your cohorts, you cannot escape responsibility for all these mess. You may have the money to buy our legal system, SEC, but you cannot buy the final Judge in heaven. If you do not repair the wrong you and your people have done, then, it is certain that you will go to Hell.

 
At Saturday, April 23, 2005 10:31:00 PM, Anonymous Anonymous said...

Our moral basis to call for the boycott of the YGC companies, to name some of them - RCBC, Lifetime Plans, Malayan Insurance, Grepalife, etc. is this:

Non cooperation with corporate evil is an equal responsibility as doing good.

 
At Sunday, April 24, 2005 7:30:00 PM, Anonymous Anonymous said...

Is it true that RCBC has one of the highest NPA in 2004?? NPA = Non performing Assets... meaning maraming na forclosed na properties in exchange for payment of loans from their borrowers. If this is the case, does this also explain why they, YGC, are not willing to pay the tuition of our children anymore, in order to use OUR money to save their RCBC????

Gosh..........SEC SEC SEC!!!!! Only in the Philippines can all of these incidents happen!!!! Wala na talagang pag-asa ang Pilipinas!!!! Paging Pres GMA!!!! Kung pwede pati si Jose Rizal??? not Jose Pidal.... Heard that the law firm YGC commisioned just for the transferring of plans to Lifetime and the lawyers who currently "own" Pacific Plan are all one way or another connected to "the Firm" What does this say to everybody???? Even the RTC judge and people from SEC were also previously connected to the Firm. They are already connected from the bottom to the top till 2010 when GMA steps down...... Please anybody out there.... do we ever have any chance at all in this country called the Philippines????? I pity myself and the generation after me...... I bought 9 plans for my 3 children with blood, sweat and tears..... I even used all my retirement pay for the plans...Now this is what is left of everything i invested!!!!!!I still have 7 unused plans...............

 
At Monday, April 25, 2005 11:28:00 AM, Anonymous Anonymous said...

as a former employee of Pacific, i am also a victim of this move and as such want not only the officers earlier listed herein at the website but also make the previous officers equally accountable for this dastardly act. These officers who have left Pacific when they have bled it dry are: Norman Gonzalez - now with Prudential Plans; Geoffrey Martinez - now with Caritas Health Shield; Manuel Reyes - now with Caritas Health Shield. I too have plans from these two companies (Trad Edu and Health Plan w/ Pension). While we could never know if the principles they have applied in running Pacific Plans have been made the model in their present organizations, I believe it is most prudent for us to go to these offices, where they are at the helm now,and withdraw our investments before we experience the same way our PEPTrad has gone.

 
At Monday, April 25, 2005 12:56:00 PM, Anonymous Anonymous said...

Can sombody refer me to the panel of experts & resource persons please. Am an experienced rehab/turnaround professional worked for the biggest financial consulting firm. Am a victim and would like to volunteer my services. We don't have much time, we need to file an opposition bef.the makati court. the rehab has not been approved yet. Only a stay order was granted. Txt me: JAL-09224308077 Thanks

 
At Monday, April 25, 2005 1:02:00 PM, Anonymous Anonymous said...

As a strategy,may I suggest that we as a group, divide ourselves into several coordinated sub-groups specifically to focus on specific task and objective/s. I know, I have been in several corporate crisis mgt.situation quiet successfully. Its time to turn the table around esp.when our childrens future is at stake.

 
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At Tuesday, July 04, 2006 11:37:00 PM, Anonymous apo said...

i'm praying for the coalition n Mr. Mark Jimenez sa mga tulong nila. Panalangin ko rin na imiral ang maka -Kristiyano ng PEP - etc. Kudos sa mga tumutulong sa aming mga policy holders.. Ibayong biyaya at protekyon ang ipakaloob sa inyo NIYA!!!

 
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At Thursday, June 18, 2009 4:13:00 PM, Anonymous Anonymous said...

what's the status of our unpaid educational plans? the last communication from Pacific Plans was that we are to receive a certain amount by 2010. I wonder if this will ever materialize. is the appeal of planholders still going on?

 

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