Even with a dwindling trust fund, the Philippine Federation of Pre-Need Plan Companies (PFPPC) said Monday it could still pay all valid claims of its planholders.

PFPPC President Juan Miguel Vazquez said that at present, they would still be able to service all contracts with planholders. He warned, however, that pre-need companies may not be in a position to do so in 10 to 15 years due to the ongoing global financial crisis.

The federation, which bundles 20 pre-need companies, clarified that it was not asking for any bailout package. Vazquez said that they were merely coordinating with government regulators what might happen to the industry in the long term.

"Whatever help they can give, who are we to say that we're not interested in it? But we're not asking for a bailout," Vazquez said in an interview at ABS-CBN's "Umagang Kay Ganda."

Vazquez assured planholders that pre-need companies would continue to be transparent about their operations and would inform them of the status of their investments.

"We always get in touch with them as companies...We always tell them the truth. We tell them that the yields of trust banks have not done well this past year. I think we owe them that, we should tell them that," he said. With ANC