Retirement planning remains one of the biggest financial challenges facing many Filipino workers. While mandatory pension programs provide a basic safety net, they are often not enough to support a comfortable retirement. Recognizing this gap, EastWest Bank is encouraging employers to play a more active role in helping employees build long-term financial security through the Personal Equity and Retirement Account (PERA).
During the Bangko Sentral ng Pilipinas (BSP)-subsidized PERA@Work: Powering Employer-led Retirement Security Forum, EastWest CEO Jerry G. Ngo shared how the bank's own employee retirement initiative is helping promote financial wellness beyond traditional workplace benefits.
Retirement Readiness Important to Businesses
For many organizations, employee benefits have traditionally focused on healthcare, insurance, and mandatory retirement programs. However, financial wellness has become an increasingly important part of talent retention and employee engagement.
Workers who feel financially secure are generally better positioned to plan for the future, manage financial stress, and make informed decisions about saving and investing. As a result, many employers are expanding workplace programs that encourage long-term financial planning.
EastWest believes employer-supported retirement savings can become a meaningful extension of these efforts.
What Is PERA?
The Personal Equity and Retirement Account (PERA) is a voluntary retirement savings and investment program established under Philippine law to encourage individuals to build additional retirement funds beyond mandatory pension contributions.
PERA allows eligible Filipinos to invest in approved financial products while enjoying tax incentives and long-term investment opportunities. The program was designed to help individuals prepare for retirement through disciplined, long-term saving.
Unlike traditional savings accounts, PERA is intended specifically for retirement planning, making it a structured option for individuals seeking to grow their investments over time.
EastWest's Employee PERA Program
EastWest launched its voluntary PERA contribution program for employees in April 2026, becoming the first universal bank in the Philippines to introduce such an initiative internally.
Rather than replacing existing retirement benefits, the program complements the bank's broader employee financial wellness strategy by giving employees another avenue to invest for their future.
The bank partnered with DragonFi Securities to implement its employee PERA program. EastWest PERA investment products are also available to customers through partnerships with DragonFi and Luna Securities, expanding access through digital investment platforms.
More Than a Retirement Benefit
During the forum, Ngo emphasized that PERA should not be viewed solely as a retirement account.
Instead, he described it as a practical entry point into investing and financial literacy. By introducing employees to long-term investing, organizations can help build confidence in managing personal finances while encouraging better saving habits.
This perspective reflects a broader shift in workplace financial wellness programs, where employers increasingly provide education alongside financial products to help employees make informed decisions throughout their careers.
Why Employer Participation Could Shape the Future of Retirement Planning
The BSP forum gathered more than 300 participants from government agencies, banks, trust institutions, investment firms, and the corporate sector to discuss expanding PERA adoption in the Philippines.
The conversation highlights an important trend: retirement preparedness is gradually becoming a shared responsibility between individuals, employers, and financial institutions.
For businesses, incorporating financial education and voluntary retirement savings into employee benefits can strengthen their overall value proposition while supporting workforce well-being.
For employees, easier access to investment opportunities may encourage earlier participation in long-term wealth building, allowing compound growth to work over time.
What Business Leaders Can Learn
Organizations considering workplace financial wellness initiatives may find several practical takeaways from EastWest's approach:
- Integrate retirement education into employee development programs.
- Provide access to voluntary retirement investment options.
- Partner with licensed investment providers to simplify participation.
- Encourage consistent long-term investing instead of short-term saving.
- Position financial wellness as part of the company's overall employee value proposition.
As financial literacy continues to gain importance in the workplace, employer-supported retirement programs may become an increasingly valuable tool for attracting and retaining talent.
EastWest's participation in the BSP's PERA forum underscores a growing recognition that retirement readiness extends beyond government pension systems. By introducing a voluntary PERA contribution program for employees and encouraging broader employer participation, the bank is highlighting how financial wellness initiatives can support both workforce resilience and long-term organizational success.
As more companies explore ways to strengthen employee benefits, workplace retirement programs such as PERA may become an important component of modern human capital strategy.