REPUBLIC Act No. 9505, otherwise known as the “Personal Equity and Retirement Account (PERA) Act of 2008,” provides taxpayers an opportunity to save for their retirement while saving on taxes. Under the law, any employed or self-employed individual is allowed to set up his own PERA, which enjoys certain tax incentives.
Relative to Revenue Memorandum Circular (RMC) No. 131-2016, the BSP accredited additional PERA unit investment trust funds (UTIFS)/ investment products as follows:
|No||Name of Bank||Name of Fund||Subtype||Detailed Type of Fund||Denomination||Date of BSP Approval|
|1||Metropolitan Bank and Trust Company||Metrobank Money Market Fund||Money Market||PERA- Money Market||Peso||3/28/2017|
|2||Metropolitan Bank and Trust Company||Metrobank PERA Bond Fund||Bond||PERA-Bond||Peso||3/28/2017|
|3||Metropolitan Bank and Trust Company||Metrobank PERA Equity Fund||Equity||PERA - Equity||Peso||3/28/2017|