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More Filipinos investing in retirement as digital PERA contributions tripled: BSP

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ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Philippine peso bills. Gigie Cruz, ABS-CBN News" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2022/news/10/04/peso.jpg"/><figcaption>Philippine peso bills. <em>Gigie Cruz, ABS-CBN News</em></figcaption></figure></div><p>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.</p><p>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.</p><p>Contributions also increased by 106 percent to P289.82 million in September from P140.76 million during the same period in 2020, it added.</p><p>Filipino workers make up 67.43 percent of the PERA contributions while the remaining came from OFWs and self-employed individuals, the BSP said.</p><p>Through digital PERA, contributors can invest, open an account, monitor and settle transactions via InstaPay and PESONet. </p><p>PERA is the government-run voluntary retirement savings program to supplement pension plans such as the Social Security System and Government Service Insurance System.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/09/08/20/save-invest-for-retirement-filipinos-urged-as-govt-launches-digital-pera-platform">&#x27;Plan and save&#x27;: BSP launches digital PERA platform to boost retirement savings</a></li>	<li><a href="https://news.abs-cbn.com/business/09/11/20/digital-pera-enhances-retirement-savings-law-bsp">Digital PERA enhances retirement savings law: BSP</a></li>	<li><a href="https://news.abs-cbn.com/business/08/31/20/bangko-sentral-to-launch-digital-retirement-account-pera-on-sept-8">Bangko Sentral to launch digital retirement account PERA on Sept. 8</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1863773" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

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.