Bangko Sentral Gov. Benjamin E. Diokno is set to lead the virtual launch of the Digital Personal Equity and Retirement Account to be broadcast live via the BSP’s Facebook page on September 8.
The initiative, which is carried out by BSP in collaboration with the Trust Officer Association of the Philippines, is themed, “Convenient and Affordable Retirement Savings through Digital PERA” or “#PERACares”.
According to Diokno, “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.”
PERA is a voluntary retirement account that can be a supplementary source of retirement benefits in addition to state-sponsored retirement programs implemented by the Social Security System or Government Service Insurance System.
It is structured to encourage Filipinos to invest in long-term retirement saving products while enjoying certain tax incentives.
ts digitalization is seen to enable PERA-accredited banks and financial institutions to provide convenient and affordable retirement saving products.