Finally! Some good news! I was one of the thousands of people who watched the Bangko Sentral ng Pilipinas (BSP) Facebook Live Event launching the Digital PERA (Personal Equity and Retirement Account) last September 9. Like many Filipinos, I’m looking forward to developments in the implementation of PERA, especially on the application of the tax exemptions and the ability to change PERA administrators. One of the highlights, at least for me, of the event, was the speech of BSP Governor Diokno. I learned so many things, many of them horrifying, about retiring in the Philippines. First off,
After opening a Personal Equity and Retirement Account (PERA), our next step is to make sure that we top up our account every year. In this post, I will share three ways to top up your BPI PERA account. Yes, there are only three ways to do it. But before we proceed, in case you’re not familiar with PERA yet, you can read these related posts: What is PERA and Why You Need One Right Now? Ultimate Guide to PERA Investment Instruments 1. Personally visit BPI Buendia Center in Makati If you’re in Metro Manila, the easiest and most straightforward
It’s been almost 3 years since the implementation of Personal Equity Retirement Account or PERA at the end of 2016. Up to this time, most Filipinos are still in the dark about what PERA means and what it can do for them in their retirement. Many of those who have heard of PERA opt to avoid putting their money in it due to a combination of lack of information regarding PERA investment instruments and confusion on how PERA fits in their financial plans. Earlier this year, I wrote a primer on PERA and why all of us need it asap. I’m
Personally, I don’t want to grow old poor. I’m sure you don’t want to be poor when you grow old either. And I bet that nobody in the world ever wants to be old and poor. So in order to help Pinoys prepare to be not poor when they’re old, I will discuss PERA in-depth, and why you need one right now. Retirement planning is a crucial yet regretfully neglected part of financial planning in the Philippines. People usually put off saving for retirement in the last 5 to 10 years of their working lives. Unfortunately, the money they save
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