The initiative comes as financial institutions seek to encourage long-term savings among Filipinos, many of whom remain underprepared for retirement despite growing awareness of the need for financial security.
Retirement access
PERA, or the Personal Equity and Retirement Account, is a voluntary retirement savings program supported by the Bangko Sentral ng Pilipinas (BSP).
It is designed to supplement retirement benefits from the Social Security System (SSS), the Government Service Insurance System (GSIS), and employer-sponsored pension plans.
The program also provides contributors with tax incentives, including a 5% tax credit, subject to applicable regulations.
With EastWest PERA products, investors can begin building retirement savings with a minimum initial investment of just P2,000, making the program accessible to first-time investors and individuals looking to gradually grow their retirement funds.
The bank said its PERA offerings provide access to BSP-approved investment outlets while allowing clients to benefit from professional portfolio management.
Digital platform
To streamline account opening and management, EastWest has partnered with BSP-accredited and Securities and Exchange Commission-supervised digital PERA administrators, including DragonFi Securities Inc.
The partnership enables customers to complete onboarding digitally, access educational resources, and monitor their retirement investments online.
“Too many Filipinos put off retirement planning because it can seem complicated or out of reach,” said EastWest CEO Jerry G. Ngo in a statement.
“With EastWest PERA products, we want to make retirement investing easier. By combining digital access through our partners, broad fund choice, and professional investment management, we are giving more people a practical way to begin building for retirement with greater confidence.”
OFW opportunity
The bank is also positioning PERA as a retirement planning tool for Overseas Filipino Workers (OFWs), who may contribute up to P400,000 annually, double the P200,000 annual limit applicable to most contributors.
This allows Filipinos working abroad to accumulate retirement savings while benefiting from the program's tax incentives and professionally managed investment options.
Subsequent contributions can be made with a minimum amount of P1,000, providing flexibility for investors with varying financial capacities.
Professional management
EastWest said its PERA funds will be managed by the bank’s Trust and Asset Management Group, which was recently named the Philippines’ Best for Discretionary Portfolio Management at the 2026 Euromoney Private Banking Awards for the second consecutive year.
The recognition highlights the bank’s investment management capabilities and reinforces its strategy of combining accessibility with professional stewardship for long-term investors.
“Retirement planning works best when it is simple enough to start and strong enough to stay with for the long term,” Ngo said.
“EastWest PERA is part of our broader commitment to make banking easier while helping more Filipinos take meaningful steps toward financial security.”
Long-term goal
Under PERA regulations, withdrawals may be made tax-free beginning at age 55, provided the account has been funded continuously for at least five years. Early withdrawals remain subject to tax clawbacks and other regulatory conditions.
By lowering entry barriers and integrating digital access with investment expertise, EastWest aims to encourage more Filipinos to begin planning early for retirement and build greater long-term financial resilience. —Ed: Corrie S. Narisma
