The University of the Philippines Provident Fund, Inc. (UPPFI) is the University of the Philippines' (UP) response to its social responsibility to its employees.

     Conceptualized in the early nineties, the UP administration, under the presidency of Dr. Jose Abueva, sought to augment the retirement benefit of the UP employee, both in the academic and non-academic sectors.  Pursuant to the General Appropriations Act for 1991 (Republic Act No. 7663) and the Malacañang Administrative Order No. 279 of 1992, the UPPFI was created.

     It was during the encumbency of President Emil Javier that the UPPFI finally came to birth.  With an initial funding of P30 million, the UP Board of Regents approved its creation at its 1075th meeting on March 24, 1994.  Its governing rules were approved by the Board of Regents on May 29, 1996.

     UPPFI was incorporated as a non-stock, non-profit provident fund on December 16, 1997 bearing SEC registry number A1997-22222.  There were fifteen incorporators headed by President Emil Q. Javier.  The other incorporators were:

     Oscar M. Alfonso               Ruben L. Villareal

     Edgardo B. Espiritu            Arsenio S. Camacho

     Antonio T. Carpio               Cristina D. Padolina

     Nelia T. Gonzales              Rogelio V. Cuyno

     Ricardo T. Gloria                Leonor M. Briones

     Claro T. Llaguno                 Carmela Yadao-Guno

     Perla D. Santos Ocampo    Teresa F. Bernabe 

     UPPFI was granted by the Bureau of Internal Revenue (BIR) a tax-exempt status as a provident fund on July 14, 1997.  Thus, all income, including earnings from the investments of the fund, are exempted from income and other taxes.  In yet another BIR ruling on July 3, 1998, it approved the reduction of the period of vesting rights from twenty (20) to fifteen (15) years, similar to that of GSIS.