The Central Bank of the Philippines has welcomed a Department of Labor and Employment advisory that encourages private-sector employers to share educational materials on financial planning, savings, microinsurance and the Personal Equity and Retirement Account with workers. The central bank framed the advisory as support for workers’ financial health and for wider financial inclusion, particularly greater ownership and use of transaction accounts in the labor sector. The advisory, issued by the Department of Labor and Employment on 13 April 2026, asks employers to disseminate information through digital or physical channels and to integrate it into workplace activities such as orientations and town hall meetings. It promotes transaction accounts for receiving and transferring funds, tracking expenses, budgeting and building emergency savings; microinsurance for protection against losses linked to accidents, illness, death and natural catastrophes; and PERA as a voluntary retirement savings program that supplements existing pension benefits. The measure supplements a 2020 labor advisory that encouraged the use of transaction accounts for wage payments.
Central Bank of the Philippines2026-06-19
Central Bank of the Philippines endorses Labor Department advisory promoting transaction accounts microinsurance and PERA for private-sector workers
The Central Bank of the Philippines backed a Department of Labor and Employment advisory urging employers to promote financial planning, savings, microinsurance and PERA among private-sector workers. The advisory also reinforces the use of transaction accounts for wage receipt, payments, budgeting and emergency savings, and supplements earlier guidance on paying wages through transaction accounts.