EastWest Banking Corp. (EastWest) is expanding access to its Personal Equity and Retirement Account (PERA) products through new partnerships with digital investment platforms DragonFi and Luna Securities, giving Filipinos more ways to start investing for retirement online.
The partnerships are aimed at making EastWest PERA more accessible through investment platforms that many investors already use, potentially lowering some of the barriers to getting started with long-term retirement investing.
PERA is a voluntary retirement savings and investment program that complements benefits from the Social Security System (SSS), Government Service Insurance System (GSIS), and employer-sponsored retirement plans.
The bank said its PERA offering is available to local investors and overseas Filipino workers (OFWs), with an initial investment requirement of ₱2,000.
“Many Filipinos understand the importance of preparing for retirement but are unsure where to start,” said Raul Victor De Guzman, EastWest Trust Officer and Head of Trust Asset Management Group.
By making the bank’s PERA products available through DragonFi and Luna Securities, De Guzman said EastWest hopes to make retirement investing “simpler, more convenient, and within reach of more Filipinos.”
Bringing retirement investing to digital platforms
From left: DragonFi CTO Cathryn Lao and CEO & Founder Jon Lim together with EastWest CEO Jerry Ngo, Rafael Algarra Jr., and Raul Victor De Guzman.
The partnership with DragonFi gives investors access to EastWest PERA through the investment platform’s web and mobile channels. DragonFi offers access to stocks, funds, REITs and PERA accounts, along with investment tools and educational resources.
DragonFi CEO and founder Jon Lim said the need for retirement planning is becoming more important as Filipinos live longer and employment patterns change.
“Traditional sources of retirement income may no longer be sufficient,” Lim said, adding that starting earlier gives investors more time to benefit from compounding.
Luna Securities, meanwhile, offers a mobile-first investing platform focused on making stock investing more accessible to Filipino investors.
Luna chairman and co-founder John Gatmaytan said partnerships between financial institutions and investment platforms can help broaden awareness of investment opportunities.
“Coupled with technology, investing for retirement is now made accessible to all demographics and different income classes,” Gatmaytan said.
For EastWest, the partnerships also extend the reach of its professionally managed PERA investment solutions through digital channels, combining the bank’s Trust and Asset Management capabilities with the platforms’ online investing experience.
EastWest PERA at a glance
- Minimum initial investment: ₱2,000
- Maximum annual investment: Up to ₱200,000 per person, or up to ₱400,000 for OFWs
- Minimum subsequent contribution: ₱1,000
- Tax-free withdrawal: Available at age 55 and above, provided the account has been funded for at least five consecutive years
- Early withdrawals: Subject to applicable tax clawbacks and other PERA regulations
The expansion comes as digital investing continues to become a more familiar entry point for Filipinos looking to build wealth and plan for long-term financial goals.
For more information about EastWest PERA, investors may contact an EastWest relationship manager.
