BSP taps ATRAM to expand retirement savings program

FILIPINOS now have more options for opening a Personal Equity and Retirement Account (PERA), the voluntary retirement savings program rolled out by the Bangko Sentral ng Pilipinas (BSP).

- By Andrea San Juan

Under the project, BSP said GCash users and customers of Union Bank of the Philippines (UBP), Philippi National Bank (PNB), and Rizal Commercial Banking Corp. (RCBC), who choose ATRAM Trust Corporation as PERA administrator, can easily open accounts online and without manual forms and ID checks.

However, customers would need to register with ATRAM and open a PERA account via the asset management firm’s online platform.

"By participating in the project, G-Xchange Inc. (which operates GCash), UBP, PNB, and RCBC can now securely share customer information—with the customer's consent—to ATRAM," BSP said in a statement on Thursday.