Time deposits are now among the eligible investment products under the Personal Equity and Retirement Account (PERA), the Bangko Sentral ng Pilipinas (BSP) said.
PERA is the country’s voluntary retirement savings program that enables Filipinos to build funds for retirement while enjoying government tax incentives.
In a statement Tuesday, the BSP said PERA-qualified products now include unit investment trust funds, stocks, real estate investment trusts, government securities, and time deposits.
The central bank said the inclusion of time deposits gives Filipinos another option for retirement savings.
Under the latest PERA guidelines issued on Aug. 20, 2026 by the BSP, banks that meet applicable BSP prudential requirements may offer PERA-eligible time deposits.
Banks must also obtain accreditation from the Bureau of Internal Revenue and enter an arrangement with an accredited PERA administrator before accepting placements.
Unlike regular time deposits, a PERA time deposit forms part of a contributor’s PERA and may qualify for applicable tax incentives.
PERA time deposits remain bank deposits and are subject to applicable banking regulations and Philippine Deposit Insurance Corporation deposit insurance rules.
“Retirement planning should be simple, accessible, and within reach of every Filipino. By introducing PERA time deposits, we are providing another practical option for individuals who want to build their retirement savings through a product they already understand and trust,” BSP Deputy Governor Lyn Javier said. (PNA)
