REVITALIZING PERA: DragonFi breathes new life into retirement savings

DragonFi Securities Inc., the stock brokerage arm of Edgar "Injap" Sia's Double-Dragon Corp., is poised to revitalize the government's Personal Equity and Retirement Account program, with the aim of almost tripling the current number of PERA accounts by next year.

- By Richmond Mercurio

Jon Carlo Lim, co-founder and CEO of DragonFi Securities, told The STAR the company targets to offer PERA by the start of the third quarter.

"We envision that during the first year of our PERA product, we will be able to garner around 10,000 to 12,000 PERA accounts, thereby almost tripling the current number of PERA accounts in the country," Lim said.

DragonFi Securities is the first PERA administrator accredited by the Securities and Exchange Commission.

Lim said that DragonFi sought accreditation as a PERA administrator to align with its mission of promoting an investing culture and broadening the Philippine capital markets.

For Lim, the PERA program has the potential to address two critical challenges – the lack of financial preparedness for retirement among Filipinos and the underdevelopment of the Philippine Stock Exchange (PSE).