Filipinos can now prepare for their retirement by voluntary investing in a newly launched tool, Personal Equity Retirement Account (PERA), which aims to promote capital market development and savings mobilization by establishing a legal and regulatory framework of retirement plans for persons.
Launched on Friday at the Bangko Sentral ng Pilipinas (BSP) Complex, PERA provides tax benefits and is expected to instill among investors the discipline of making annual contributions to their own account. PERA was created under Republic Act 9505.
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