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Business > Top Business
PERA caps doubled
By Niña Myka Pauline Arceo
Mar 07, 2023 12:29 am

Move aimed at encouraging retirement savings

REGULATORS have doubled the maximum yearly contributions for the Personal Equity and Retirement Account (PERA) program, the Bangko Sentral ng Pilipinas (BSP) announced on Monday, in a bid to encourage more Filipinos to prepare for when they finally leave the workforce.

The annual limits for the voluntary retirement savings program were raised to P200,000 from P100,000 for locally employed and self-employed individuals, and to P400,000 from P200,000 for Filipinos working abroad, the BSP said in a statement.

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