EastWest Bank launches voluntary PERA contribution program for employees

EAST WEST Banking Corp. (EastWest Bank) has rolled out its voluntary Personal Equity and Retirement Account (PERA) contribution program in partnership with DragonFi Securities, Inc.

Under the program, eligible EastWest Bank employees can save and invest in accredited PERA products by giving the lender authority to make contributions on their behalf, together with their own personal contributions.

Participation is voluntary, and the bank is only facilitating awareness and onboarding support.

DragonFi Securities, as a PERA Administrator, will provide guided account setup, investment options, digital tools, and educational resources.

Employees may also choose other accredited PERA Administrators as the program is nonexclusive, EastWest Bank added.

“Financial empowerment is not only about access to products. It is also about building the knowledge and confidence to plan ahead,” EastWest Bank Chief Executive Officer Jerry G. Ngo said in a press release. “By facilitating access to PERA, EastWest is helping employees take a more active role in shaping their long-term financial future.”

The bank added that this forms part of its efforts to promote financial literacy, employee well-being, and long-term financial resilience.

“This is also in support of the Bangko Sentral ng Pilipinas’ (BSP) direction to encourage businesses nationwide to adopt company-sponsored Personal Equity and Retirement Account programs, leveraging enhanced tax incentives under the Capital Markets Efficiency Promotion Act (CMEPA) to invest in their employees while contributing to national economic growth.”

PERA, created under Republic Act No. 9505, is a voluntary retirement saving program meant to supplement retirement benefits from the Government Service Insurance System or Social Security System, as well as private employers.

A private employer may, as part of its compensation package for employees, opt to contribute to the PERA of its employees. This may be reflected in the employer’s income tax return as a deductible expense from its gross income.

The CMEPA also provides for a 50% additional tax deduction for private employers who contribute an amount equal to or greater than their employees’ PERA contributions.

The latest BSP data showed that accumulated PERA contributions reached P571.08 million at end-September 2025, rising by 21.34% year on year from P470.63 million. Bulk of these came from employee contributions (P396.54 million).

Meanwhile, the total number of PERA contributors also went up to 6,334 in the same period from 5,774 a year prior. — AMCS