BPI Wealth taps employers to widen retirement savings access

Insider Spotlight

• BPI Wealth is expanding workplace access to retirement savings through its Corporate Personal Equity and Retirement Account (PERA) program
• PERA contributors reached 30,055 as of June 2026, up from 6,193 a year earlier, according to the Bangko Sentral ng Pilipinas
• Employers may qualify for enhanced tax deductions on eligible PERA contributions under the Capital Markets Efficiency Promotion Act
  
  
  
  

As Filipinos live longer, employers are taking on a greater role in helping workers prepare financially for retirement, creating opportunities for financial institutions to expand workplace-based savings and investment programs.

BPI Wealth, the wealth management arm of the Bank of the Philippine Islands, has introduced BPI Corporate PERA, a workplace retirement solution that allows companies to incorporate long-term savings and investment options into employee benefits programs.

The initiative aims to make retirement planning more accessible by allowing employees to save and invest through their workplace.

Participation remains voluntary, with employees deciding whether to enroll and how much to contribute based on their financial circumstances and retirement goals.

Increase in total contributions

According to the Bangko Sentral ng Pilipinas (BSP), PERA contributors reached 30,055 as of June 2026, compared with 6,193 a year earlier.

Total contributions increased 36.7 percent year-on-year to P757.55 million, although participation remains relatively limited.

Retirement savings program

Established under Republic Act No. 9505, PERA is a voluntary, tax-advantaged retirement savings program designed to supplement benefits from the Social Security System, Government Service Insurance System and other retirement arrangements.

Eligible contributors may receive a tax credit equivalent to five percent of qualified contributions. Investment income within PERA is generally exempt from applicable investment income taxes, subject to regulatory requirements.

Employers may also qualify for enhanced tax deductions on eligible contributions under the Capital Markets Efficiency Promotion Act.

Maria Theresa Marcial

BPI Wealth president and CEO

For long-term financial well-being

BPI Wealth president and CEO Maria Theresa Marcial said the initiative gives companies another way to support employees' long-term financial well-being.

“Ultimately, our goal is to help more Filipinos start earlier, invest consistently, and build greater financial confidence for the future,” she said in a press statement. 

BSP deputy governor Bernadette Romulo-Puyat emphasized employers' role in expanding retirement access.

“Retirement readiness cannot be the responsibility of individuals or government alone. Employers have an important role. By making retirement saving part of employee benefits, they can help their people save regularly and build for the long term,” she said. —Vanessa Hidalgo | Ed: Corrie S. Narisma