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| Dont let your money sleep in a piggy bank. Let it grow. Enroll now at PERA |
When I look around me I just realized that there are a lot of Filipinos who actually depend on government retirement benefit and witnessing them struggle at their twilight years is somehow heart breaking. They depend on their relatives during this year.
When you listen to their stories, some of them has a better paying job during their earlier days. They were able to help some relatives go to college or help them on their wedding days or gave them money to send them abroad and story goes on. For me, I wanted to grow old and totally financially capable in paying off my bills and hospitalization. A friend told me that I have to start saving for it. I must admit that saving is such a difficult more so if you are not accustomed to it.
With the re-birth of Personal Equity and Retirement Account otherwise known as PERA, I believe that it will help the working community ensures them of a better retirement plan. The idea is for you to save money through accredited banks, brokers, or mutual fund company or insurance company. Note though that, you must only apply to accredited parties to avoid fraud.
Who are qualified?
For as long as you have a Tax Identification Number, you are of legal age then you are qualified. The earlier you start establishing your PERA Account the better. An individual can save up to Php 100,000 in a year and you can withdraw the said amount plus any additional earnings surrounding it once you reached your retirement date. Overseas Filipino Contract Workers are also qualified for up to Php 200,000.
Can I withdraw Earlier?
Basically, the answer is YES and there will be surcharges as well. Plus, you will be paying all other benefits like the 5% Tax Credit. There are some exemptions though on this rule: 1. Payment for any accident or illnesses related incidents duly authorized by the doctor. 2. Permanent Disability but needs certification from government agencies like SSS and 3. if you transfer the withdrawn amount to your another PERA account 2 working days upon withdrawal.
If you meet those 3 criteria's then you don't have to pay those charges.
Benefits of PERA to YOU?
Its an investment that will ensure you to have a saving at your retirement age is definitely the main reason for me why you must be a PERA holder. It gives you assurance that when you reach the age of retirement then definitely you will have a money to cover for your expenses. One Hundred Thousand is not enough but at least you have something that can help you.
Another importance of having the PERA is you will have a 5% annual tax credit. That's another good thing. Whatever discount from the TAX I think is a good thing and an advantage.
Your money will gain because the fund manager will be investing your money in so many forms.
Please note: I am not a PERA Expert nor work for any of the fund managers. I am simply expressing my idea and giving first hand idea. Please visit any PERA Accredit fund managers, banks, or insurance company. Please also note to only contact those who are accredited. I suggest BPI for setting up your PERA Account.
For more information: BPI PRIMER
Can I withdraw Earlier?
Basically, the answer is YES and there will be surcharges as well. Plus, you will be paying all other benefits like the 5% Tax Credit. There are some exemptions though on this rule: 1. Payment for any accident or illnesses related incidents duly authorized by the doctor. 2. Permanent Disability but needs certification from government agencies like SSS and 3. if you transfer the withdrawn amount to your another PERA account 2 working days upon withdrawal.
If you meet those 3 criteria's then you don't have to pay those charges.
Benefits of PERA to YOU?
Its an investment that will ensure you to have a saving at your retirement age is definitely the main reason for me why you must be a PERA holder. It gives you assurance that when you reach the age of retirement then definitely you will have a money to cover for your expenses. One Hundred Thousand is not enough but at least you have something that can help you.
Another importance of having the PERA is you will have a 5% annual tax credit. That's another good thing. Whatever discount from the TAX I think is a good thing and an advantage.
Your money will gain because the fund manager will be investing your money in so many forms.
Please note: I am not a PERA Expert nor work for any of the fund managers. I am simply expressing my idea and giving first hand idea. Please visit any PERA Accredit fund managers, banks, or insurance company. Please also note to only contact those who are accredited. I suggest BPI for setting up your PERA Account.
For more information: BPI PRIMER
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