Filipinos now have more convenient ways to open a Personal Equity and Retirement Account (PERA) following the rollout of the Open Finance for PERA Pilot initiative led by the Bangko Sentral ng Pilipinas (BSP).

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

Through the project, participating institutions can securely share customer information—with the client’s consent—with ATRAM, allowing account holders to open PERA accounts through the administrator’s online platform without manual forms or additional identity checks.

Customers of UnionBank can also access the service through the bank’s mobile app, which now allows them to open a PERA account directly through ATRAM.

The pilot initiative, launched on July 29, 2025, aims to simplify the account onboarding process and make retirement investment options more accessible to Filipinos.

PERA is a voluntary retirement savings program that offers tax incentives to individuals and their employers who set aside funds for retirement. It serves as a supplementary savings tool alongside benefits provided by the Social Security System and the Government Service Insurance System.

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