Last Updated on September 21, 2023 by ufiling
The DepEd Provident Fund (DEPF) is a program initiated by the Philippine Department of Education (DepEd) for its employees to provide financial assistance upon retirement. One of the features of DEPF is the 30 percent withdrawal option, which allows qualified members to withdraw 30% of their accumulated contributions before their retirement.
The 30 percent withdrawal option is intended to provide short-term financial assistance to members who need it. This option is available to members who have made contributions for at least five years, and have not made any withdrawals from their DEPF accounts in the last two years. The amount that can be withdrawn is based on the member’s total contribution and the interest earned.
However, it is important to note that withdrawing a portion of the DEPF balance will reduce the amount that will be received upon retirement. This can have a significant impact on the overall retirement plan of an individual. Therefore, members should carefully consider the pros and cons of the 30 percent withdrawal option before availing of it.
On the positive side, the 30 percent withdrawal option can provide immediate financial assistance to members who are facing financial difficulties. It can be used to pay for medical expenses, education expenses, or other urgent needs. Additionally, members who plan to retire in the near future may also use this option to fund their transition into retirement.
On the negative side, members who avail of the 30 percent withdrawal option will have a reduced balance in their DEPF account, which will ultimately result in a lower retirement benefit. Members who are still far from retirement may find it more beneficial to keep their DEPF contributions intact and allow it to grow through the years.
In conclusion, the 30 percent withdrawal option of DEPF can be a helpful feature for members who are in need of immediate financial assistance. However, members should also consider the long-term impact of withdrawing a portion of their DEPF balance, particularly in relation to their retirement plans. It is always best to seek advice from financial experts before making any significant financial decision, including availing of the 30 percent withdrawal option.
Top 15 Online Courses and Degrees to improve your employability
Technology and Computer Science Online Courses and Online degrees:
– Computer Science 101 Online Course from Stanford University through edX is a beginner-friendly course that introduces the core concepts of Computer Science, available for free with an option for certification for a fee.
– Programming for Everybody Online degree — Getting Started with Python** by the University of Michigan on Coursera is intended as an entry-level coding class, freely accessible with an optional paid certificate.
Web Development: Online Courses and Online degrees
– Introduction to HTML offered by Codecademy covers HTML basics for free, with advanced options available through paid upgrades.
– Dash by General Assembly is a free course that teaches HTML, CSS, and JavaScript through hands-on project learning.
AI and Data Science: Online Courses and Online degrees
– Introduction to Big Data Online Courses provided by the University of San Diego via Coursera delves into the fundamentals of big data, available at no cost with a certificate available for an extra charge.
– Machine Learning Online Degrees by Stanford University on Coursera is a broad course on machine learning, data mining, and statistical pattern recognition, free to access with optional certification.
Business and Management: Online Courses and Online degrees
– The PG Diploma in Data Science Online Course from IIIT-B focuses on a variety of programming languages and tools and is developed in partnership with leading industry players.
– A Business Analytics Certification Online degree draws attention especially for those targeting analyst and managerial roles, covering essential tools for analytics and data visualization.
Cloud Computing: Online Courses and Online degrees
– The Advanced Certification in Cloud Computing is targeted at engineering graduates looking to fill roles such as Cloud Developer or Cloud Architect.
Project Management and Software Development: Online Courses and Online degrees
– Online degrees in Project Management from leading universities incorporate essential management concepts and business communication.
– The MSc. in Computer Science Online degree from Liverpool John Moores University provides the same level of quality and exposure as on-campus degrees through an 18-month online format.
Cybersecurity: Online Courses and Online degrees
– The Advanced Certificate Programme in Cyber Security by upGrad and IIIT-B offers an in-depth learning experience over 12 months, combining content hours, projects, and live sessions.
Platforms Offering Diverse Learning Opportunities: Online Courses and Online degrees
– FutureLearn offers accelerated courses, microcredentials, and professional certificates across multiple fields with various payment options including subscriptions.
– Coursera partners with over 275 universities and organizations worldwide, offering a wide range of degrees and professional certificates.
– Udacity specializes in IT and technology courses, with nanodegrees and programs designed in collaboration with industry leaders.
– Codecademy focuses on coding and programming, providing free learning opportunities in various coding languages with additional professional development programs.
These courses and degrees are designed to equip individuals with in-demand skills across various sectors, enhancing employability and providing valuable certifications. Whether interested in technology, data science, business, or other areas, these online resources offer flexible and comprehensive ways to learn and advance in your career.