Filipinos’ contributions to the Personal Equity and Retirement Account (PERA) rose 45.3% to PHP 757.554 million in the first half of 2026, up from PHP 521.363 million a year earlier.
As reported to Bangko Sentral ng Pilipinas (BSP) data reported by BusinessWorld.
The number of contributors nearly quintupled over the same period, rising to 30,055 from 6,193.
Self-employed Filipinos drove most of the enrollee growth, jumping to 23,529 from 942 a year earlier, a rise of nearly 2,400%. Their contributions also grew fastest, more than doubling to PHP207.901 million.
Employee contributions still made up the largest share of the total, 59.33%, growing 24.08% to PHP449.45 million. Enrolled employees rose 22.63% to 5,441.
Contributions from overseas Filipino workers climbed 18.12% to PHP100.203 million, with their enrollee count up 33.29% to 1,085.
PERA was created under Republic Act No. 9505 in 2016 as a voluntary retirement savings programme. It’s designed to supplement benefits from the Social Security System, the Government Service Insurance System, and employer-provided plans.
Locally employed and self-employed contributors may invest up to PHP 200,000 a year, while overseas Filipino workers may contribute up to PHP 400,000. Both groups are eligible for tax exemptions and credits.
BSP Deputy Governor Lyn I. Javier said the central bank is working with the Department of Labor and Employment and the Overseas Workers Welfare Administration to expand overseas Filipino participation. The central bank is also encouraging employers to boost enrolment among their staff.
Javier said more banks opening their platforms to PERA should help reach more Filipinos. “The product itself is very attractive,” she said.
East West Banking Corp. began offering a voluntary PERA contribution programme for employees in May, with DragonFi Securities, Inc. as administrator. Digital banks have also signalled interest in offering the product, Javier said.
The BSP launched its Open Finance for PERA Pilot last year. The initiative aims to streamline onboarding and improve access to the programme.
Under the framework, customers of Land Bank of the Philippines, Maya Philippines, Metrobank, PNB, RCBC, UnionBank, and G-Xchange (GCash’s operator) can open a PERA account directly through those platforms.
Administrators ATRAM Trust Corp., BDO Unibank, and BPI Wealth manage their investments.
Featured image: Edited by Fintech News Philippines based on an image by atlascompany via Magnific.
