BPI Wealth, the wealth management division of Bank of the Philippine Islands, has rolled out the BPI Corporate Personal Equity and Retirement Account or PERA, a workplace‑based retirement benefit introduced during the “Building Better Futures 2026: Retirement in the Age of Longevity, A New Leadership Imperative” event as part of the firm’s Wealth Wellness Month. The launch comes amid longer life expectancies that mean Filipino workers face more years to fund after leaving the workforce, and points to the growing role of employers in boosting national retirement preparedness.
Created under Republic Act 9505, PERA is a voluntary tax‑advantaged savings plan meant to supplement state‑run pension benefits from SSS and GSIS. While PERA uptake has risen sharply — Bangko Sentral ng Pilipinas data shows contributors jumped to 30,055 as of June 2026 from 6,193 the previous year, with total contributions growing 36.7 percent to ₱757.55 million — overall adoption remains low. BPI’s new corporate offering aims to widen reach by letting businesses add PERA to their existing employee benefits, making regular long‑term saving easier for workers to include in their finances. Employee participation stays voluntary, with each worker choosing whether to join and how much to set aside based on personal means and goals.
Under current rules, individual PERA savers can get a 5 percent tax credit on qualified contributions, plus tax‑exempt investment earnings and tax‑free withdrawals once age and contribution requirements are met. Employers, meanwhile, may claim enhanced tax deductions for their eligible contributions under the Capital Markets Efficiency Promotion Act or CMEPA. BPI Wealth president and CEO Maria Theresa Marcial said the product gives companies a flexible way to support staff financial wellness, with the broader goal of encouraging Filipinos to start saving early and invest consistently for retirement. BSP Deputy Governor Bernadette Romulo‑Puyat noted that improving retirement readiness is not only for individuals or government, and that employers are key to helping workers build long‑term savings through benefit‑linked plans. Businesses looking to strengthen their workforce’s financial wellness can reach out to BPI Wealth to review how corporate PERA fits their existing benefits framework and plan implementation.
