The Bangko Sentral ng Pilipinas (BSP) and the Securities and Exchange Commission (SEC) have joined forces to better protect the retirement savings of Filipino workers.
The two agencies signed a memorandum of agreement (MOA) that allows secure data sharing and coordinated use of information from the Personal Equity and Retirement Account System, or PERASys. PERASys, managed by the BSP, serves as the central database for all Personal Equity and Retirement Account (PERA) contributors. It ensures that contributors’ savings and tax incentives are properly recorded and kept safe.
Under the new agreement, the BSP and SEC will cooperate closely to make sure information about PERA contributors is exchanged securely and used responsibly. The partnership aims to support better services for Filipinos preparing for their retirement.
“When you set aside part of your income for your future, you trust us to protect that investment,” BSP Governor Eli M. Remolona, Jr. said. “With this partnership, we are building a system that keeps your information safe and your future more certain. It is one more step toward helping every Filipino retire with dignity and peace of mind.”
The MOA also reinforces both agencies’ commitment to data privacy laws, outlining strict standards for confidentiality, recordkeeping, and security. It sets clear procedures for reporting issues, resolving operational concerns, and protecting sensitive information.
