Filipinos can now open a Personal Equity and Retirement Account (PERA) more easily through a new digital initiative led by the Bangko Sentral ng Pilipinas (BSP).
Under the “Open Finance for PERA Pilot,” customers of G‑Xchange, Inc. (operator of GCash), Union Bank of the Philippines, Philippine National Bank, and Rizal Commercial Banking Corporation can now open PERA accounts online through ATRAM Trust Corporation without filling out manual forms or submitting physical identification documents.
Through the pilot, participating banks and financial platforms can securely share a customer’s financial data with ATRAM—with the customer’s consent—under the BSP’s Open Finance framework. This allows users to complete the registration and account opening process digitally on ATRAM’s online platform. Customers of UnionBank can also open a PERA account directly through the bank’s mobile app.
The BSP said the project, launched on 29 July 2025, aims to simplify the onboarding process and expand access to retirement savings products.
PERA is a voluntary retirement savings program that provides tax incentives for individuals and employers who set aside funds for retirement. It is designed to complement benefits from the Social Security System, Government Service Insurance System, and other savings and investment options.
By enabling digital account opening and secure data sharing among financial institutions, the BSP hopes to widen participation in PERA and strengthen long-term retirement planning among Filipinos. The central bank said it will continue working with financial institutions to expand the network and build a more seamless and secure retirement savings ecosystem.
