By Liza Soriano
MANILA — Senator Jinggoy Estrada has introduced a bill mandating employers nationwide to offer a complimentary financial literacy program to all employees.
Under Senate Bill No. 2630, known as the Personal Finance Education in the Workplace Act, employers will be required to implement a personal finance education program covering topics such as behavioral finance, savings, emergency fund development, debt management, investment, insurance, retirement planning, and other relevant personal finance subjects.
“The pivotal role of employers in spearheading this initiative cannot be understated, as they provide the most accessible platforms and avenues for such programs. If employers are willing, they can find ways to elevate the financial literacy of our workers, teaching them how to save, invest, and more,” Estrada stated.
“This initiative will empower employees by equipping them with the knowledge and skills needed to effectively manage their finances, leading to greater financial stability,” added the chairperson of the Senate Committee on Labor, Employment, and Human Resources Development.
He further noted that financially stable employees benefit companies by enhancing focus, productivity, and overall job satisfaction.
(el Amigo/MNM)
