The bureau has issued Revenue Regulations (RR) No. 015-2025 on April 29, 2025 with subject "Revised Private Retirement Benefit Plan Regulations", hereby promulgated to revise policies and guidelines on the taxability of the retirement benefits received by employees under a reasonable private retirement benefit plan.
It is stated in the regulations, that the term "reasonable private retirement benefit plan" means a plan maintained by an employer for the benefit of some or all of its officials or employees, wherein contributions are made by such employer for the officials or employees, or both, for the purpose of distributing to such officials and employees the earning and principal of the fund thus accumulated, and wherein it is provided in said plan that at no time shall any part of the corpus or income of the fund be used for, or be diverted to , any purpose other than for the exclusive benefit of the said officials and employees.
Reference: (Full Text): Bureau of Internal Revenue (BIR) RR No. 015-2025
