More Filipinos investing in retirement as digital PERA contributions tripled: BSP | ABS-CBN
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More Filipinos investing in retirement as digital PERA contributions tripled: BSP
More Filipinos investing in retirement as digital PERA contributions tripled: BSP
ABS-CBN News
Published Oct 04, 2022 11:10 AM PHT
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Updated Oct 04, 2022 11:40 AM PHT
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MANILA - More Filipinos have began investing in their retirement fund through the electronic Personal Equity and Retirement Account (PERA) as contributions tripled in just 2 years, the central bank said on Tuesday.
MANILA - More Filipinos have began investing in their retirement fund through the electronic Personal Equity and Retirement Account (PERA) as contributions tripled in just 2 years, the central bank said on Tuesday.
Digital PERA contributions rose to 4,892 on Sept. 8, 2022 from just 1,684 when it was launched 2 years prior, the Bangko Sentral ng Pilipinas said in a statement.
Digital PERA contributions rose to 4,892 on Sept. 8, 2022 from just 1,684 when it was launched 2 years prior, the Bangko Sentral ng Pilipinas said in a statement.
Contributions also increased by 106 percent to P289.82 million in September from P140.76 million during the same period in 2020, it added.
Contributions also increased by 106 percent to P289.82 million in September from P140.76 million during the same period in 2020, it added.
Filipino workers make up 67.43 percent of the PERA contributions while the remaining came from OFWs and self-employed individuals, the BSP said.
Filipino workers make up 67.43 percent of the PERA contributions while the remaining came from OFWs and self-employed individuals, the BSP said.
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Through digital PERA, contributors can invest, open an account, monitor and settle transactions via InstaPay and PESONet.
Through digital PERA, contributors can invest, open an account, monitor and settle transactions via InstaPay and PESONet.
PERA is the government-run voluntary retirement savings program to supplement pension plans such as the Social Security System and Government Service Insurance System.
PERA is the government-run voluntary retirement savings program to supplement pension plans such as the Social Security System and Government Service Insurance System.
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