GCash Joins BSP and ATRAM in Expanding PERA’s Digital Reach

The Bangko Sentral ng Pilipinas (BSP) is making it easier for Filipinos to sign up for the government’s voluntary retirement savings program, the Personal Equity and Retirement Account (PERA), through its integration with the Open Finance Pilot in the Philippines.

PERA offers tax incentives, diverse investment options, and long-term financial security. Local contributors can invest up to ₱200,000 annually (₱400,000 for Overseas Filipino Workers) and enjoy a 5% income tax credit on contributions, with investments growing tax-free until retirement.

In the first phase of BSP’s Open Finance pilot, several financial institutions are collaborating to simplify the PERA account opening process. Among the initial participants are PERA Administrator ATRAM and e-wallet platform GCash, whose partnership is creating a more seamless onboarding experience.

Fully verified GCash users can now open a PERA account faster by consenting to share their information with ATRAM, the first administrator participating in the pilot. Previously, opening a PERA account required a lengthy process and extensive manual paperwork.

Starting with PERA, the Open Finance Project brings together financial institutions under the BSP’s framework to improve access to financial services for more Filipinos.

“GCash supports the Bangko Sentral ng Pilipinas’ push for greater financial inclusion,” said Winsley Bangit, GCash vice president and group head for new businesses. “By democratizing access to investment and savings products like PERA, we can help more Filipinos prepare for their future and enjoy more rewarding opportunities.”

“This pilot reflects our commitment to expanding access to long-term financial solutions like PERA,” said Deanno Basas, ATRAM chief experience officer. “By working with BSP and platforms like GCash, we’re making it easier for Filipinos to start saving and investing in ways that fit their financial habits and goals.”

GCash is part of the BSP-led multiparty framework that ensures compliance throughout the Open Finance PH Project.

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