The Bangko Sentral ng Pilipinas (BSP) has eased rules governing the Personal Equity and Retirement Account (PERA) program, allowing greater flexibility in how retirement funds are invested.
Under the new directive, PERA Unit Investment Trust Funds (UITFs) are no longer bound by the 10% non-resident ownership limit that previously prevented them from investing in BSP securities.
The central bank said the revision aims to enhance Filipinos’ long-term financial security and strengthen the country’s private pension system.
The change is particularly relevant to overseas Filipino workers, who make up a significant share of PERA contributors. The old limit had long been seen as a constraint—nine of the 13 available PERA-UITFs had already exceeded the cap, blocking them from diversifying their portfolios with BSP-issued debt instruments.
UITFs are pooled funds managed by banks and regulated by the BSP, designed to help individuals invest in diversified portfolios.
According to the BSP, voluntary contributions to PERA increased by 24% in 2024, reaching ₱491.39 million. As of December that year, the total number of contributors stood at 5,912, including 789 overseas Filipinos who collectively contributed ₱82.25 million, along with 4,211 employed and 912 self-employed participants.
