The PER cost is the Personal Equity Retirement cost and it is a fee that investors pay when they invest in a Personal Equity Retirement Account (PERA). This fee is charged by the financial institution that provides the account, usually a bank or investment firm. The fee is used to cover the costs associated with managing the account and providing services to the investor.
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PERA Accounts
A PERA account is a retirement savings account that allows individuals to invest in stocks, bonds, mutual funds and other investments. These accounts are regulated by the Philippine government and are subject to certain rules and regulations. The main purpose of a PERA account is to provide a secure retirement income for the investor.
The money invested in a PERA account can be used to purchase stocks, bonds, mutual funds and other investments. The investments must be approved by the government and the investor must provide the financial institution with the necessary documents and information.
Benefits of PERA Accounts
The main benefit of investing in a PERA account is that the investor can save money for retirement while enjoying tax benefits. The money invested in a PERA account is exempt from income tax and capital gains tax. This means that the investor can save money while not having to worry about paying taxes on their investments.
The money invested in a PERA account is also safe and secure. The government regulates the investment of the funds and the investor can rest assured that their money is safe.
PER Cost
The PER cost is the fee charged by the financial institution for providing services to the investor. The fee is used to cover the costs associated with managing the account, such as administrative costs, legal fees and other costs associated with providing the account.
The PER cost can vary from one financial institution to another. Most financial institutions charge a flat fee or a percentage of the amount invested in the account. The fee can be as low as 0.5% of the amount invested or as high as 1%.
Conclusion
The PER cost is the fee charged by the financial institution for providing services to the investor when investing in a Personal Equity Retirement Account (PERA). This fee is used to cover the costs associated with managing the account and providing services to the investor. The amount of the fee can vary from one financial institution to another and can be as low as 0.5% of the amount invested or as high as 1%. The money invested in a PERA account is exempt from income tax and capital gains tax, providing the investor with secure retirement savings and tax benefits.