Effects on the independence of a central bank Part of the academic and political debate about the best financial supervisory architecture has been devoted to whether the central bank should be involved in the prudential supervision of banks.3 Supervision within the central bank?
Currently, PERA is underutilized. Since its implementation in December 2016, the PERA industry has not gained significant momentum. As of July 29, 2020, only 1,586 Filipinos had been investing in PERA, with total contributions of P137 million. Of the total contributors, 1,099 or 69 percent are locally employed, 273 or 17 percent are Overseas Filipino Workers (OFWs), and 214 or 14 percent are self-employed.