The Bangko Sentral ng Pilipinas (Bangko Sentral ng Pilipinas) has expressed support for the Department of Labor and Employment’s efforts to strengthen financial planning, savings, microinsurance uptake, and retirement preparedness among private sector workers.
In an advisory issued on April 13, 2026, the Department of Labor and Employment (DOLE) encouraged employers to distribute information, education, and communication (IEC) materials to help workers improve financial management practices and build long-term financial resilience.
The initiatives align with BSP financial inclusion priorities and are expected to improve workers’ financial health while expanding the use of formal transaction accounts in the labor sector.
The advisory promotes using transaction accounts to receive wages, manage personal expenses, and build savings for emergencies and other financial shocks. It also supports broader access to microinsurance products designed to protect workers and their families against losses from illness, accidents, death, and natural disasters.
It likewise reinforces support for the Personal Equity and Retirement Account (PERA) program, a voluntary retirement savings scheme aimed at helping workers accumulate long-term financial security.
Employers are encouraged to integrate IEC materials into workplace activities such as orientations, training sessions, and town hall sessions, and to distribute them through both digital and physical channels.
The advisory also complements Labor Advisory No. 26, Series of 2020, which promotes the use of transaction accounts for wage payments.
The BSP and DOLE, both members of the Financial Inclusion Steering Committee, said the initiative forms part of broader efforts to deepen financial inclusion and expand participation in formal financial systems across the workforce.