As soon as the average pension fund’s cover ratio falls below the required 130%, not just the risk of under-funding goes up, but so does the measure of under-funding. (When a fund’s cover ratio is 105%, that ratio will, by the time the fund is confronted by under-funding within one year, have dropped to 90%.)
As more Filipinos embrace digital payments, we are optimistic that PESONet MBS would bring 1/2  BIS central bankers' speeches  us closer to our strategic objectives under the BSP’s Digital Transformation Roadmap: namely, first, digitalizing 50 percent of retail payments volume, and second, onboarding 70 percent of adult Filipinos to the formal financial system by 2023.