The total fund of the Personal Equity and Retirement Account (PERA) doubled year-on-year to P289.82 million as more Filipinos contributed to the fund via online platforms, the Bangko Sentral ng Pilipinas (BSP) said.
THE total fund of the Personal Equity and Retirement Account doubled year-on-year to P289.82 million as more Filipinos contributed to the fund via online platforms, the Bangko Sentral ng Pilipinas said.
The BSP attributed the increase in funds to the rising number of PERA contributors, which almost tripled two years after the central bank launched its digital platform called Digital PERA. The BSP said that contributions from Filipino employees represented 67.43 percent of said PERA contributions or P195.42 million. The remainder of the contributions came from overseas Filipino workers and self-employed individuals, the central bank added.
The BSP introduced the PERA in 2016, eight years after the enactment of RA 9505 in 2008, “with support from the financial industry.”
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