The Bangko Sentral ng Pilipinas (BSP) has praised the Department of Labor and Employment (DOLE) for its efforts to promote financial planning, savings, microinsurance, and the Personal Equity and Retirement Account (PERA) among private-sector employers and workers.
In Labor Advisory No. 6 issued on April 13, 2026, DOLE called on employers to distribute information, education, and communication (IEC) materials to help employees manage their finances more effectively. The initiative aligns with the BSP’s goals of improving workers’ financial well-being and increasing access to formal financial accounts in the workforce.
The advisory encourages workers to use transaction accounts for receiving wages, transferring funds, tracking expenses, and setting aside savings for emergencies or unexpected costs. It also highlights microinsurance as a tool to protect families from financial hardship caused by accidents, illness, death, or natural disasters. Additionally, it promotes PERA, a long-term savings plan designed to help individuals build funds for a secure retirement.
DOLE advises employers to share these resources through digital platforms or printed copies, and to include them in workplace activities such as new-hire orientations and general assemblies. This new advisory updates and strengthens Labor Advisory No. 26, Series of 2020, which first encouraged the use of formal accounts for salary payments.
Both agencies serve on the Financial Inclusion Steering Committee, a group working to expand access to and use of formal financial services nationwide.
Employers may access the IEC materials covering:
• Financial planning
• Saving and budgeting
• Microinsurance
• PERA
Each topic is available in video format and other reference materials.
