UnionBank makes retirement saving easier with PERA

MANILA — UnionBank of the Philippines has rolled out a fully digital onboarding feature for Personal Equity and Retirement Accounts (PERA) through its mobile app, marking a push to make long-term investing more accessible to Filipinos.

Developed in partnership with the Bangko Sentral ng Pilipinas (BSP) and ATRAM Trust Corp. (ATC), the new feature allows customers to open PERA accounts entirely online, eliminating the need for physical paperwork and streamlining access to retirement-focused investment products.

PERA is a voluntary savings and investment program designed to supplement traditional retirement sources such as Social Security System (SSS), Government Service Insurance System (GSIS), and employer-sponsored plans.

It enables individuals to invest in BSP-accredited instruments with long-term growth potential.

UnionBank said the initiative aligns with the central bank’s broader push to improve financial inclusion and encourage Filipinos to plan early for retirement.

“We believe that preparing for the future should be simple, inclusive, and accessible to every Filipino,”  UnionBank President and CEO Ana Aboitiz Delgado said.

Through the app-based system, users can complete onboarding with fewer requirements and immediately begin investing in available PERA products.

ATC serves as the trust administrator, offering a range of investment options under the program’s initial rollout.

The bank described the launch as a foundational step, with plans to further integrate account management features into a seamless digital experience.

UnionBank has been among early adopters of BSP-led open finance initiatives and continues to expand digital banking services aimed at widening participation in formal financial systems.

The bank said expanding access to PERA could help address gaps in retirement preparedness as economic conditions evolve and traditional pension systems face limitations.