The Market Monitor Minding the Nation's Business
EastWest is widening access to its Personal Equity and Retirement Account (PERA) products through new partnerships with DragonFi and Luna Securities, making it easier for Filipinos to invest for their retirement through digital platforms.
The partnerships enable customers to access EastWest PERA through online investment platforms designed to simplify retirement planning and encourage long-term saving.
PERA is a voluntary retirement savings program supported by the Bangko Sentral ng Pilipinas that complements benefits from the Social Security System (SSS), Government Service Insurance System (GSIS) and employer-sponsored retirement plans. EastWest PERA is available to local investors and overseas Filipino workers with a minimum investment of ₱2,000.
EastWest Trust Officer and Head of Trust Asset Management Group Raul Victor De Guzman said the initiative aims to make retirement investing more accessible to Filipinos who recognize the importance of financial planning but are unsure how to begin.
DragonFi, a technology-driven investment platform, offers access to stocks, funds, real estate investment trusts (REITs) and PERA accounts through its web and mobile applications, along with educational tools to help investors make informed decisions.
DragonFi Chief Executive Officer and Founder Jon Lim said early retirement investing has become increasingly important as Filipinos live longer and traditional retirement income sources may no longer be sufficient.
Luna Securities, meanwhile, provides a mobile-first investment platform that seeks to make stock investing more intuitive and accessible for a broader range of Filipino investors.
Luna Chairman and Co-Founder John Gatmaytan said expanding partnerships and leveraging technology can help bring investment opportunities to more Filipinos across different income groups.
Through the partnerships, customers will gain access to professionally managed EastWest PERA investment solutions backed by the bank’s Trust and Asset Management Group while enjoying a more convenient digital investing experience.