The Bangko Sentral ng Pilipinas (BSP) on Tuesday announced that time deposits have been officially designated as eligible investment products under the Personal Equity and Retirement Account (PERA) framework, offering Filipinos a familiar and lower-risk option to build their retirement savings.
Under updated guidelines issued by the central bank on August 20, 2026, time deposits join an expanding roster of PERA-accredited financial instruments, which currently includes unit investment trust funds, publicly traded stocks, real estate investment trusts and government securities.
To offer PERA-eligible time deposits, participating banks must satisfy applicable BSP prudential requirements, secure formal accreditation from the Bureau of Internal Revenue and enter into an operational arrangement with an accredited PERA administrator.
The addition is intended to cater to conservative savers seeking predictable returns through straightforward financial vehicles.
“Retirement planning should be simple, accessible, and within reach of every Filipino,” BSP Deputy Governor Lyn I. Javier said. “By introducing PERA time deposits, we are providing another practical option for individuals who want to build their retirement savings through a product they already understand and trust.”
While structured like traditional fixed-term bank placements, a PERA time deposit operates under the voluntary retirement program’s regulatory envelope, allowing account holders to enjoy tax incentives provided by law. Despite the tax-exempt structure, these placements remain classified as standard bank deposits, keeping them subject to existing banking regulations and Philippine Deposit Insurance Corporation deposit insurance coverage.
Established as the country’s voluntary personal retirement program, PERA aims to supplement state-sponsored pension schemes by giving individuals tax-advantaged channels to accumulate wealth. The central bank continues to encourage Filipinos to integrate structured retirement planning into their long-term financial strategies and select investment products aligned with their specific risk tolerance and target timelines.