The Bangko Sentral ng Pilipinas (BSP) on Friday launched the Personal Equity Retirement Account (PERA), a new investment tool for retirement.
This is an option for us to invest up to Php 100k for non OFW and Php 200k for OFWs a year and the good thing is PERA is tax deductible. This is to help individuals 18 and above to personally save up for their retirement. There are currently 2 administrator of PERA, BDO and BPI.
PERA administrators would invest your money in different financial instruments like equities or stocks.