MANILA, April 22 -- Senator Jinggoy Estrada has filed a bill requiring employers to provide free financial literacy programs for their employees to help them make informed financial decisions.

Senate Bill No. 2630 or the Personal Finance Education in the Workplace Act, filed on April 14, aims to equip workers with knowledge and skills to manage their resources and become financially stable.

"The role of employers to take a lead in this endeavor cannot be undermined because they provide the most accessible venues and channels for such initiatives," Estrada said in a statement Monday.

The bill seeks to address the low financial literacy rate among Filipino adults, with only 1 percent answering financial literacy questions correctly, acco...