BSP: Polymer banknotes are 

‘smarter, cleaner, stronger’

By Elvira C. Bongosia

TAGBILARAN CITY, Bohol (PIA) — The Bangko Sentral ng Pilipinas (BSP) characterized the Philippine polymer banknote series as smarter, cleaner and stronger.

“The new polymer banknotes are smarter, cleaner and stronger than the previous generation of ‘paper’ banknotes,” explained Lawyer Mary Anne P. Lim, BSP assistant governor for currency and securities production sub-sector during the Media Information Session (MIS) attended by Bohol public information officers and media on March 25 in Tagbilaran City.

Lim described the new “plastic” bills as smarter because they have new advanced security features that prevent counterfeiting.

The polymer banknotes are also cleaner because they have smoother and non-absorptive surfaces, which make them less likely to get damaged or dirty due to water, oil, and dirt.

Lim said polymer banknotes are stronger because they have a lifespan of as long as 7.5 years compared with 1.5 years for paper banknotes.

She shared that the polymer series, which started with the release of the P1,000 denomination in 2022, now includes the P500, P100, and P50 banknotes.

Regarding the absence of a P200 polymer banknote, Lim said that when BSP conducted surveys, they found that very few people requested the P200 bill, which led BSP to phase it out since the demand was low.

The BSP official also clarified the absence of heroes on the new polymer banknotes.

“We continuously promote our national heroes alongside our flora and fauna. This new polymer series focuses on the country’s biodiversity,” Lim explained.

The official assured the public that the traditional paper banknotes will remain in circulation and will continue to be valid alongside the polymer series.

The BSP officials conducted the MIS, a capacity-building seminar for members of the Association of United Development Information Officers (AUDIO) and the media to help them understand and appreciate BSP’s role in the economy.

Topics discussed were BSP Statistics 101, BSP’s digitalization efforts, Anti-Financial Account Scamming Act, and Philippine Polymer Banknote Series. (ECB/PIA7-Bohol)

The polymer series, which started with the release of the P1,000 denomination in 2022, now includes the P500, P100, and P50 banknotes. Polymer banknotes are becoming a global standard, with over 40 countries adopting them. (ECB/PIA7-Bohol)

Bangko Sentral ng Pilipinas Central Visayas Regional Director Anna Clara M. Oville orients the members of AUDIO-Bohol and media on BSP’s regional operations to help them understand and appreciate BSP’s role in the economy during the Media Information Session held in Tagbilaran City on March 25, 2025. (ECB/PIA7-Bohol)

Dreaming of hefty pension?

Try MySSS pension booster

TAGBILARAN CITY, Bohol (PIA)—Yes, bank savings are great, but nothing still beats working out a personal provident fund supplemented by an equally the same amount as employer’s monthly contribution, making up one’s monthly savings for retirement fund.

And yes propping that up with a little more from a bit of that extra fund even sweetens the pot.

That is how good getting to the MySSS pension booster is, shares Social Security Systems (SSS) Senior Communications Analyst Sherwin Dan Solibaga II, who along with SSS Information Officer Hazel Navarro, came as guests to the weekly internet-streamed Kapihan sa PIA.

Then billed and Workers’ Investment Savings Program Plus (WISP Plus), a voluntary savings scheme immaterial of their monthly salary credit, as long as they posted at least one contribution, or for a simple application for SSS number issuance, the MySSS Pension Booster is the worker’s investment which he can get on top of the regular retirement benefit, Solibaga explained.

Although a mandatory pension booster for employees in the private sector who are earning P20,000 and above, the provident savings program targets middle to high-income earners with the financial capacity to invest a little bit more, the pension booster is in fact open even for member workers in the informal economy voluntarily enrolling in the program, according to SSS Officials.

This means just as the boosted providence savings for retirement program is open for Overseas Filipino Workers, corporate executives, online service workers, it also is good for workers in the informal sector who desire to have disciplined spending for future financial security.

How does it work?

As to Solibaga, regular members earning over P20,000 are automatically enrolled into the pension booster: and by regulations, he is giving out P3,000 per month (or 15 percent of P20,000) goes to his regular pension fund and the extra he contributes slides into the pension booster.

Those earning P20,000 below, his contributions go directly to the regular pension, and under 55 years old, he could enroll in the pension booster program for a minimum monthly contribution of P500, which goes directly into the pension booster savings.

This also goes for those earning way below, but interested in propping up his retirement fund, Navarro emphasized.

Apart from the monthly contributions which is supplemented by the employer, by opening up a MySSS Pension Booster, which is as easy as downloading the MySSS apps on your mobile, for affordable to no-maximum amount limit, dividend- earning, tax-free investment

With the online transactions now available at SSS, contributions can be made online through the SSS website, SSS Mobile App, or SSS’ Collection Partners’ app using a Payment Reference Number (PRN) which can also be generated online.

In fact, pension booster contributions can be handed over the counter through SSS branches with teller facilities, but with the number of clients transacting at the SSS branches, officials would rather suggest to transact via online.

For voluntary members, contributions can be paid anytime depending on the capacity to save, although MySSS Pension booster contributions have to be done with the regular SSS contributions.

Upon retirement, or at the age of 60, members have the option to receive the total accumulated value of the pension booster plus dividends, tax free, as a lump sum or pension on top of the regular SSS pension, SSS said. (RAHC/PIA-7/Bohol)

BOOSTED PENSION FUND? Dreaming of a hefty pension, regular and voluntary members can prop up their pension funds, not just by employer contribution or investment shares, a pension booster program is now available at MySSS, reveals SSS Senior communications Analyst Sherwin Dan Solibaga, who along with Hazel Navarro guested the Kapihan sa PIA sa Bohol. (PIABohol)