DragonFi to launch PERA services in June

MANILA, Philippines — DragonFi Securities Inc., the stock brokerage arm of DoubleDragon Corp., is set to launch its Personal Equity and Retirement Account (PERA) product offerings in June, according to Bangko Sentral ng Pilipinas Deputy Governor Chuchi Fonacier.

The BSP official confirmed the timeline in a Viber message, adding that the move is expected to strengthen Filipinos’ access to retirement savings options.

“DragonFi is currently enhancing its digital platform with a target launching of PERA product offerings in June 2025,” she said.

“We expect this to further boost our PERA numbers,” Fonacier added.

DragonFi became the first PERA administrator accredited by the Securities and Exchange Commission (SEC) under new regulations, a milestone announced earlier in January.

The company aims to provide a seamless digital experience for contributors.

Based on BSP data, voluntary retirement contributions jumped by 24 percent to P491.39 million in 2024 from P396.31 million in 2023 as the number of contributors inched up by 6.4 percent to 5,912 from 5,555.

“This growth indicates investor confidence in retirement security through increased contributions,” Fonacier said.

“Though it may be lower than what we wish for, it reflects that PERA is gaining traction nonetheless. The slowdown in growth of new contributors highlights challenges like economic pressures and low financial literacy,” she said.

To address these issues, the BSP is implementing several measures including regulatory initiatives, targeted information campaigns and expanded market engagements.

The central bank is also pushing for more accredited PERA administrators and working with financial institutions to implement open finance, which aims to simplify processes and improve accessibility.

Additionally, the BSP continues to advocate for integrating PERA into employee welfare packages to encourage long-term financial planning.

“These efforts aim to sustain growth in PERA contributions and contributors, enhancing financial security for Filipinos,” Fonacier said.

DragonFi earlier pledged P10 million to help encourage young Filipinos to start their retirement savings through PERA. Under this program, 2,000 eligible participants who deposit their first P5,000 into a PERA account with DragonFi will receive an additional P5,000 in matching funds.

This initiative is projected to increase the total number of PERA accounts in the country by 35 percent. To be eligible for the grant, Filipinos aged 18 to 35 must open a PERA account with DragonFi once the service becomes available.

A total of P20 million will be injected into PERA accounts, raising overall contributions by four percent. If participants consistently invest P10,000 annually, they could accumulate approximately P1.13 million in retirement savings over 30 years, assuming an eight percent annual return.