BSP and ATRAM Expand PERA Digital Access with GCash Support

In a major step toward promoting financial inclusion, the Bangko Sentral ng Pilipinas (BSP) has made it easier for Filipinos to open a Personal Equity and Retirement Account (PERA) with the help of ATRAM and GCash.

Through the BSP’s Open Finance Pilot in the Philippines, millions of Filipinos can now open their own voluntary retirement savings account digitally — with GCash as a convenient sign-up option.

A Smarter Way to Save for Retirement

The PERA program is a government-backed voluntary retirement savings plan designed to give Filipinos better financial security for the future. It offers several benefits, including:

• ✅ Tax perks: A 5% income tax credit on yearly contributions.
• ✅ High contribution limits: Up to ₱200,000 per year for local contributors and ₱400,000 for Overseas Filipino Workers (OFWs).
• ✅ Tax-free growth: Investments grow tax-free until retirement.
• ✅ Flexible investment options to match financial goals.

With these advantages, PERA aims to encourage Filipinos to start saving early and consistently for a more secure retirement.

Easier Access Through GCash

In the past, opening a PERA account required tedious paperwork and a lengthy process. Now, with the integration of GCash, fully verified users can open an account faster by simply consenting to share their information with ATRAM, the first participating PERA Administrator under the BSP’s pilot program.

This collaboration marks a significant move toward making financial services more inclusive and accessible to Filipinos.

“GCash supports the agenda of the Bangko Sentral ng Pilipinas to strengthen financial inclusion,” said Winsley Bangit, GCash Vice President and Group Head for New Businesses. “By helping democratize access to investment and savings products like PERA, we can help more Filipinos plan for their future and take advantage of more rewarding opportunities with ease.”

“This pilot reflects our ongoing commitment to improving access to long-term financial solutions like PERA,” added Deanno Basas, ATRAM Chief Experience Officer. “By working with BSP and platforms like GCash, we’re making the process of starting a PERA more straightforward and aligned with how Filipinos manage their finances today.”

A Step Forward in Open Finance

The Open Finance Project, initiated by BSP, is a collaborative effort among financial institutions to create a more interconnected and user-friendly financial system in the Philippines. By starting with PERA, the project sets the stage for more innovative and inclusive digital financial services.

GCash officially joined BSP’s Open Finance PH framework in July 2024, ensuring compliance and paving the way for more breakthroughs in digital finance.

With this innovation, more Filipinos — including Kagay-anons — now have the opportunity to prepare for retirement with ease, convenience, and peace of mind.