PERA contributions reach P457 M in H1

Voluntary retirement contributions rose by 24.3 percent to P457.6 million in the first half from P368 million in the same period last year as more and more Filipinos participate in the government’s Personal Equity and Retirement Account (PERA) program.

- KEISHA TA-ASAN

Data from the Bangko Sentral ng Pilipinas (BSP) showed the number of contributors to PERA stood at 5,686 in the first half, 5.3 percent higher than last year’s 5,402 contributors.

Broken down, around 4,024 employed individuals contributed P315.7 million to the fund as of end-June, rising by 25 percent from P253.3 million in the comparable year-ago period.

This was followed by 782 overseas Filipino workers with P78.8 million, 21 percent higher than last year’s P64.9 million, and 880 self-employed individuals with P63.1 million, up by 27 percent from P49.8 million.