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BSP, SEC strengthen coordination to safeguard retirement savings
The Bangko Sentral ng Pilipinas (BSP) and the Securities and Exchange Commission (SEC) have entered into a partnership to enhance data security and sharing for the Personal Equity and Retirement Account (PERA) System.
This agreement, signed on December 3, aims to ensure the secure sharing and responsible use of data concerning PERA contributors.
BSP Governor Eli Remolona Jr. emphasized that the partnership strengthens the protection of Filipinos' retirement investments and contributes to a more certain future for them.
The PERASys, managed by the BSP, serves as the central database for all PERA contributors, ensuring accurate recording of savings and tax incentives.
This collaboration between the BSP and SEC will facilitate more effective services for Filipinos investing in their retirement.
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