BSP expands online access to PERA

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March 22, 2026 | 12:00am

MANILA, Philippines — Filipinos now have more convenient ways to open a Personal Equity and Retirement Account (PERA) as the Bangko Sentral ng Pilipinas (BSP) expands digital access to the government-backed retirement savings program through its Open Finance initiative.

The BSP said customers of G-Xchange Inc., the operator of GCash, as well as clients of Union Bank of the Philippines, Philippine National Bank (PNB) and Rizal Commercial Banking Corp. (RCBC) could now open PERA accounts online under the Open Finance for PERA Pilot project.

Under the initiative, customers who choose ATRAM Trust Corp. as their PERA administrator may open an account digitally without submitting manual forms or undergoing separate identification checks.

By participating in the project, G-Xchange, UnionBank, PNB and RCBC can securely share customer information with ATRAM once the client provides consent. Customers only need to register with ATRAM and open a PERA account through the firm’s online platform.

UnionBank clients may also access the service directly through the bank’s mobile application, which now allows users to open a PERA account via ATRAM.

The BSP said the project uses the central bank’s Open Finance framework, which enables the secure and consent-based sharing of financial data among participating institutions.

The framework aims to expand customer options and simplify access to financial products such as retirement accounts.

Since the pilot was launched on July 29, 2025, the BSP said it has continued to streamline the onboarding process to make it easier for Filipinos to start saving for retirement.

Previously, individuals who wanted to open a PERA account had to complete physical forms and submit supporting documents such as identification cards to their chosen PERA administrator.

PERA is a voluntary retirement savings program created under Republic Act 9505 that offers tax incentives to individuals and their employers who set aside funds for retirement.

The program is designed to supplement existing retirement and social protection systems such as the Social Security System and the Government Service Insurance System, as well as other savings and investment instruments.

The BSP said it would continue working with financial institutions to expand the network of participants and build a more seamless and secure ecosystem for retirement planning.

“The BSP continues to work with financial institutions to further expand the network and ensure that a seamless and secure retirement planning ecosystem is within reach of every Filipino,” the central bank said.