BANGKO SENTRAL WILL LAUNCH DIGITAL RETIREMENT ACCOUNT PERA ON SEPTEMBER 8
To encourage Filipinos to save for additional retirement benefits, the Bangko Sentral ng Pilipinas said it would launch the Digital Personal Equity and Retirement Account (PERA) this September.
Gov. Benjamin Diokno said the program aims to encourage Filipinos to invest in a voluntary retirement account that can be a supplementary benefit on top of the state-sponsored retirement program using just mobile phone devices.
“The digital PERA will allow Filipinos to invest in PERA investment products anytime, anywhere, using only their mobile phones and other devices. This is firmly in line with the BSP’s thrust to foster digitalization in the financial system and to bring the BSP closer to the people.” He said in a statement.
The BSP said with the program, Filipinos can invest in long-term retirement saving products while enjoying certain tax incentives.
Digital PERA, which is set to launch on September 8 officially, is a project in collaboration with the Philippines’ Trust Officer Association.