The Bangko Sentral ng Pilipinas (BSP) has expanded the list of qualified investments under the Personal Equity and Retirement Account (PERA) to include time deposits, giving Filipinos another accessible option to build long-term retirement savings, per new guidelines issued August 20, 2026.
Time deposits join a range of existing PERA-eligible instruments: unit investment trust funds, stocks, real estate investment trusts, and government securities. Under the updated rules, banks must meet BSP prudential standards, secure Bureau of Internal Revenue (BIR) accreditation, and partner with an authorized PERA administrator to offer these products.
The move caters to savers who favor familiar, low-risk vehicles with steady, predictable returns—broadening retirement access beyond higher-risk market-linked options.
“Retirement planning should be simple, accessible, and within reach of every Filipino. By introducing PERA time deposits, we are providing another practical option for individuals who want to build their retirement savings through a product they already understand and trust,” said BSP Deputy Governor Lyn I. Javier.
Unlike standard time deposits, PERA time deposits qualify for government tax incentives while retaining full deposit protection under the Philippine Deposit Insurance Corporation (PDIC) and compliance with all banking regulations.
PERA is the Philippines’ voluntary retirement savings scheme, designed to help citizens accumulate retirement funds with tax benefits. The BSP urged the public to integrate regular retirement savings into financial planning and select PERA products aligned with their goals, timeline, and risk tolerance.
