Personal Equity & Retirement Account (PERA)

Personal Equity & Retirement Account (PERA)


Personal Equity and Retirement Account (PERA) is a new tool that companies can use to attract, engage and retain the right people by providing additional monetary benefit that is tax-exempt.
 
Under the PERA Law, an employer may contribute to a PERA on behalf of their employees up to the extent allowable to an employee-contributor. This contribution enjoys certain tax benefits.  To the employer, they can claim the actual amount of qualified contributions as deduction to gross income. To the employees, contributions to their PERA by the employer are exempt from withholding tax on compensation. PERA however, is not intended to replace the employer’s contribution to social security and its obligation to pay retirement benefits to its employees under the Labor Code.
 
BPI Asset Management can help you assess how PERA can fit your company's current benefit scheme.

PERA FAQs BPI PERA FAQs BPI PERA Primer
 
BPI PERA products are currently available through BPI Makati Main Branch (BPI Head Office Building, Ayala Avenue cor Paseo de Roxas, Makati City).
 

Requirements to open an account

  • A BPI savings or checking account to serve as a settlement account.
  • A valid government ID
  • A Tax Identification Number (TIN)
  • A TIN ID or copy of the Income Tax Return or any document that can validate the TIN.
  • 1,000 Pesos – Initial Amount of Investment and exclusive of Fees

Additional requirements for OFWs:

  • Overseas Employment Certificate issued by the Philippine Overseas Employment Administration (POEA)
  • Any official document showing that he will earn or has earned income in a foreign country in the year of the PERA contribution.

Additional Requirements for Spouse/Child of OFW:

 
For spouse:
  • Marriage certificate attesting marriage with the OF
  • Sworn certification that the spouse is opening a PERA for and in behalf of the OF who has not availed of the benefits under the PERA Act
  • Supporting documents attesting OF status (POEA Overseas Employment Certificate and official documents showing income earned or will be earning in a foreign country).
For child:
  • The birth certificate attesting that he/she is the child of the OF
  • Sworn certification that the child is opening a PERA for and in behalf of the OF who has not availed of the benefits under the PERA Act, or the spouse of the OF has not availed of the benefits under the PERA Act
  • Supporting documents attesting OF status (POEA Overseas Employment Certificate and official documents showing income earned or will be earning in a foreign country)
 
To know more about BPI PERA, you may contact any of the following PERA Individual Administrators listed below. We will be more than glad to sit down and discuss this product further with you.
 
Carlo Abat
Vince Acosta
Magic Chongson
Mariel De Castro
Janina Lapuz
DJ Uy
Ria Pajado
Lulu Principe
JM Quinao
Kating Arana
Margie Cantos
845 5799
219 2276
816 9417
816 9038
816 9095
0927 136 1214
0927 135 9727
0927 136 1151
0927 136 1238
(088) 857 8577
(043) 723 1851

 

*PERA was established via RA 9505 (PERA Act of 2008) to promote capital market development and savings mobilization in the Philippines.
 

BPI Asset Management and Trust Corporation (BPI AMTC) is a subsidiary of the Bank of the Philippine Islands. For any inquiries and complaints relating to our services and products, you may call our hotline: 89-100, send an email to bpi_asset_management@bpi.com.ph or write a letter addressed to BPI Asset Management and Trust Corporation - Consumer Protection, 17F, BPI Building, Ayala Ave. cor. Paseo De Roxas, Makati City, 1226.

BPI AMTC as Trustee / Investment Manager is supervised by the Bangko Sentral ng Pilipinas (BSP) with telephone number (632) 708-7087 and e-mail address: consumeraffairs@bsp.gov.ph. To know your rights please refer to BSP Circular No. 857 (Regulations on Financial Consumer Protection).