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2025-07-30 10:57:06
[The Philippines plans to launch new measures, expected to attract US$1.7 billion to pension funds] The Bangko Sentral ng Pilipinas expects a new voluntary retirement investment plan to attract about 100 billion pesos (about US$1.7 billion) in inflows, which is expected to boost the capital market. According to officials from the bank, the Bangko Sentral ng Pilipinas signed an agreement with several banks and financial institutions on Tuesday to launch a pilot program: with the consent of the customers, these institutions are allowed to share the financial data of their customers. The initiative aims to increase the accessibility of the Personal Equity and Retirement Account (PERA), and customers can use their personal information already in participating institutions to conveniently open a PERA account. The Managing Director and Chief Information Officer of the Bangko Sentral ng Pilipinas said: "From an economic perspective, as long as 1 million Filipinos take full advantage of the program, 100 billion pesos could flow into long-term local investment each year. This means that the capital market will be further deepened and financial resilience will be enhanced."
