The Central Bank of the Philippines has added time deposits to the investments eligible for Personal Equity and Retirement Accounts (PERA), expanding the retirement savings program beyond products including investment funds, stocks, real estate investment trusts and government securities. The deposits may qualify for applicable PERA tax incentives and provide an option for savers seeking predictable returns and relatively lower investment risk. Banks may offer PERA-eligible time deposits if they meet applicable prudential requirements, obtain accreditation from the Bureau of Internal Revenue and establish an arrangement with an accredited PERA administrator. The products remain bank deposits subject to banking regulations and Philippine Deposit Insurance Corporation deposit insurance rules.
2026-08-25Central Bank of the Philippines
Central Bank of the Philippines makes time deposits eligible for Personal Equity and Retirement Accounts
The Central Bank of the Philippines has made time deposits eligible for Personal Equity and Retirement Accounts, allowing them to qualify for applicable tax incentives. Banks must meet prudential requirements, secure tax authority accreditation and arrange with an accredited PERA administrator before offering the deposits.