PSE prods companies to support PERA

LEADING BY EXAMPLE

- By RICHMOND MERCURIO

The Philippine Stock Exchange Inc. (PSE) is poised to lead by example in the hope of encouraging listed companies to have a Personal Equity and Retirement Account (PERA) program.

“PSE is going to have a PERA. Our employees will have a PERA program starting next year. Nobody understands yet the PERA, so we want to really spearhead that,” PSE president and CEO Ramon Monzon told The STAR.

“We will spearhead this as the exchange. We will show the listed companies that if the exchange, which is not a big company, can do PERA, they can do PERA also,” he said.

PERA, created under Republic Act 9505, is a voluntary retirement savings program available to the public, in addition to existing retirement benefits from the Social Security System, Government Service Insurance System and employer-sponsored plans.