PERA (Personal Equity and Retirement Account) or also known as RA 9505 (PERA Act of 2008) promotes capital market development and savings mobilization in the Philippines. It is a voluntary and personal account, established by any person with the capacity to contract and possesses a Tax Identification Number (TIN), for the purpose of being invested solely in PERA investment products.
PERA’s objective is to promote capital market development and savings mobilization, to contribute to long-term fiscal sustainability through the provision of long-term financing, and to reduce the need for social pension benefits. You may use PERA to slowly build up additional funds which you may use upon retirement, even if you are employed and are entitled to receive retirement benefits from your employer.
An individual who (1) has the capacity to contract and (2) possesses a Tax Identification Number (TIN)
Source: Fitz Villafuerte
https://fitzvillafuerte.com/2017-sure-invest-p-e-r.htmlSource: Fitz Villafuerte
https://fitzvillafuerte.com/2017-sure-invest-p-e-r.htmlAs a retirement savings program, the contributor is entitled to receive back the total amount contributed, plus all income associated with his or her PERA account, upon retirement. In addition, the contributor receives the following benefits through:
Source: Pinoy Money Talk
https://www.pinoymoneytalk.com/philippines-personal-equity-retirement-account-peraAre there exemptions from early withdrawal penalties? Yes, the following situations will not be subject to Early Withdrawal Penalty:
For payment to a Contributor who has been subsequently rendered permanently totally disabled as defined under the Employees Compensation Law or Social Security System Law – needs certification from pertinent government agency