
Philippine central bank expands overseas workers' retirement fund options
The rule change allows PERA-UITFs to invest in BSP securities.
The Bangko Sentral ng Pilipinas (BSP) has amended its regulations to allow accredited Personal Equity and Retirement Account (PERA) Unit Investment Trust Funds (UITFs) to invest in BSP securities, removing the previous 10% cap on non-resident ownership.
The central bank said nine of 13 PERA-UITFs had exceeded the ownership limit, which had prevented them from investing in its debt instruments.
The exemption will enable these funds, including those held by overseas Filipinos, to diversify investments and access central bank securities.