BSP widens access to online PERA opening

Filipinos now have more options for opening a Personal Equity and Retirement Account, or PERA, through the Bangko Sentral ng Pilipinas’ Open Finance for PERA Pilot project.

In a press release dated March 12, 2026, the BSP said the initiative gives users a more convenient way to open PERA accounts as part of efforts to widen access to retirement savings tools.

Under the project, customers of G-Xchange Inc., the operator of GCash, Union Bank of the Philippines, Philippine National Bank, and Rizal Commercial Banking Corp. may open accounts online if they choose ATRAM Trust Corp. as their PERA administrator.

The BSP said the process no longer requires manual forms and ID checks, making onboarding simpler for eligible customers.

Through the pilot, G-Xchange, UnionBank, PNB, and RCBC may securely share customer information with ATRAM, provided the customer gives consent.

The setup allows customers to register with ATRAM and open a PERA account through ATRAM’s online platform.

UnionBank customers also have the option of logging in through the UBP app, which now allows them to open a PERA account through ATRAM.

The BSP said the Open Finance for PERA Pilot has continued to streamline the onboarding experience since its launch on July 29, 2025.

That effort is part of the central bank’s broader push to make retirement planning tools more accessible through digital finance and consent-based data sharing.

The BSP said the pilot leverages its Open Finance framework, which allows the secure and consent-based sharing of customers’ financial data across institutions.

The framework is designed to expand customer choice and convenience in accessing PERA products and services.

PERA is a voluntary retirement savings program that offers tax incentives to Filipinos and their employers for setting money aside for retirement.

The BSP said PERA complements benefits from the Social Security System, the Government Service Insurance System, and other savings and investment instruments.

Before the pilot, opening a PERA account required customers to fill out forms and submit supporting documents, including identification cards, to PERA administrators.

The BSP said it will continue working with financial institutions to expand the network and build a seamless and secure retirement planning ecosystem for Filipinos.