PERA Fund

[etxetera]

Retirement planning ang isa sa di uso sa atin.
Saang bank maganda kumuha? Anyone who started this?

[fionaapple]

mag uumpisa pa lang ako sis...BPI at BDO pa lang ang authorized ng Bangko Sentral. will open an account through BPI.

[annecalei]

Hi sis. Can you give me more details about it? How does it work? Apparently, dito ko lang nalaman yan.

[fionaapple]

^ his annecalei, please read link for more details:

https://www.bpiassetmanagement.com/pages/pera-personal-equity--retirement-account/

[Annie M.]

I am very interested in this as well. As far as I know, ang maximum contribution for non-OFWs is 100k a year, and for OFWs it's 200k a year.

Tried asking yung BDO branch ko. Parang clueless sila. HIndi pa yata na-roll out fully?

Hoping to hear from someone who was able to successfully open an account.

[simang]

Following this thread, I've been reading about this and I'm still very confused. Hopefully someone could explain in idiot terms, hehe. Actually nagbabasa ako about UITF in general, may nabasa akong blog na okay daw if sa PERA fund mag iinvest. Medyo nakakaconfuse lang how it works

[gwyne21]

I am also interested in this PERA fund. I have been reading/researching about this since last year. As far as I know, only BDO and BPI right now have this. There is a provision that employees who invested in this will have 5% tax credit (based sa amount invested). We asked BPI about this tax credit but as of now, wala pa daw IRR for this (especially for those employed). Meaning how can the tax credit be deducted from the withholding tax we pay.

[sinichi]

Was able to open PERA account sa BPI last December. Sa ngayon BPI Head Office pa lang nag u offer

[Annie M.]

^hi, sinichi! can you share how you did it? anong documents kailangan? how long did the process take? can you make additional investments using online banking, or laging pupunta pa ng bpi? thanks in advance

[OfficeGirl]

Interested about this, too.

[sinichi]

^hi, sinichi! can you share how you did it? anong documents kailangan? how long did the process take? can you make additional investments using online banking, or laging pupunta pa ng bpi? thanks in advance

hello Annie, tumawag ako sa BPI Head Office, may dala akong 2 IDs (SSS Unified and TIN) plus yung latest ITR ko. Wala pang 1 hr yung process. Sa online banking eh hindi pa integrated yung PERA sa online ng BPI - for now, pupunta sa head office para mag add. Pero dahil sa mga mga fees, semi annual or annual lang ang gagawin ko na paglalagay ng pera. Yung initial na nilagay ko eh 1k lang, mag lagay ako by June and or by end of the yr

[eischied_21]

I'm also interested on PERA, currently looking for a retirement fund. I'm not sure if this one is better or getting a retirement program from any of the insurance companies like Philamlife.

I read that maximum to invest is 100K. Does it mean you can deposit any amount by choosing between montly, semi-annual and annually or fixed ang amount of deposit.

[etxetera]

hello Annie, tumawag ako sa BPI Head Office, may dala akong 2 IDs (SSS Unified and TIN) plus yung latest ITR ko. Wala pang 1 hr yung process. Sa online banking eh hindi pa integrated yung PERA sa online ng BPI - for now, pupunta sa head office para mag add. Pero dahil sa mga mga fees, semi annual or annual lang ang gagawin ko na paglalagay ng pera. Yung initial na nilagay ko eh 1k lang, mag lagay ako by June and or by end of the yr

Sis anong minimum requirement amount na hulog yearly?

[fionaapple]

I read that maximum to invest is 100K. Does it mean you can deposit any amount by choosing between montly, semi-annual and annually or fixed ang amount of deposit.

when you open a PERA fund, you can invest various amounts as many times as you like as long as the total amount does not exceed 100k in a year or 200k for OFWs. however, if you plan to invest 100k per year, it is best to save that amount first then invest the whole 100k in one instance, instead of investing small amounts over a 1 year period. why? because of the charges, everytime you invest, charges are collected. so another tip is, if you plan to "deposit" (invest) the maximum amount of 100k in a year, you have to deposit to your settlement account more than 100k because you also have to cover the amount of charges. please talk to your BPI/BDO contact for the amount of charges.

Sis anong minimum requirement amount na hulog yearly?

^no minimum amount. you can invest 0 to 100k pesos. hindi ito gaya ng insurance na may required amount of premium. purely investment ito. the investment vehicle of PERA fund is UITF, so you will have to choose amount the different UITFs: Bond, Balanced, Equity and others.

[jmeangeL]

The way I look at it, parang same lang talaga sya ng UITF. Kainis pa nga kasi wala pa naman IRR para dun sa tax exemption at may cap pa na 100k lang per year.  At may charges? every time na mag-add?
Sa traditional UITF, kasama na charges sa computation ng NAVPu, so di mo na pansin yun.  Tapos, you can investment more than 100K.

Is the 100K per investment vehicle or all investment vehicle should total 100K, for non-OFW.

Kaya di ako nag-inquire pa. Ayoko naman iclose and current UITF ko para lang ilipat dito tapos ma-lock out na ang fund mo until retirement age.

[eischied_21]

Thanks @fionaapple

@jmeangeL - I agree parang MF/UITF lang din pero ang maganda is that you can declare it when filing the yearly tax na may less 5% pero other than that same lang siya sa UITF/MF.

[jmeangeL]

^--- which would have been helpful for professionals and entirely useless for employed individuals since filing of taxes is done thru withholding and is on-behalf of the employer.

Unless BIR and Bangko Sentral would issue the IRR immediately to allow the employee to file contributions to PERA Fund as exemptions, then it would be a long time before we see any fruit of that 5% tax deduction.

Would love to get contributions to PERA fund as tax deduction/exemption instead, para before tax investment sya, same as SSS and Pag-ibig contributions.

Then I would gladly fork 8K a month to this fund.  Para bumaba naman tax ko. Ang sakit tignan ehh.   

[gwyne21]

Unless BIR and Bangko Sentral would issue the IRR immediately to allow the employee to file contributions to PERA Fund as exemptions, then it would be a long time before we see any fruit of that 5% tax deduction.

We are also waiting for this one. IRR on tax deduction.. kung implemented na ito, we will be investing in PERA fund. Currently kasi we only have the normal UITF offered by banks

[fionaapple]

hindi lang po 5% tax deduction ang benefit.
it is exempt from estate taxes. also, proceeds are exempt from tax once the 5 year period has elapsed AND the investor is more than 55 years old.

pakibasa po comment about sa finance charges for each contribution. sayang ang charges kung ibe breakdown into small investments monthly.

[etxetera]

Thanks sis fionaapple 

Akala ko may yearly amount so to your liking pala. At oo nga mas pabor siya sa professionals dahil sa employed eh employer naman ang nagawa at file ng tax. Estate tax ang advantage - ang tax na di familiar ang common na Pinoy dahil wala naman ari-arian.