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Manila Bulletin devider Business devider Banking & Finance devider BSP exempts PERA investments from foreign ownership limit

BSP exempts PERA investments from foreign ownership limit

Published Oct 21, 2025 02:32 pm

At A Glance

  • Bangko Sentral ng Pilipinas (BSP)-regulated investment funds are no longer subject to the 10-percent foreign ownership threshold that previously limited their investments in BSP securities.
The Bangko Sentral ng Pilipinas (BSP) has lifted a foreign ownership limit on retirement funds, allowing most personal equity and retirement account unit investment trust funds (PERA UITFs) to purchase central bank securities and diversify the savings of overseas Filipinos.
The BSP, under Circular No. 1220 issued on Oct. 17, has formally exempted these funds from the 10-percent foreign ownership cap, a restriction had prevented overseas Filipinos from investing in BSP-issued debt securities.
“This recognizes that PERA- UITF participants may include overseas Filipinos who are classified as non-residents under existing rules,” the BSP said
The amendment also reconciled with the current BSP policy that bars non-residents from directly owning BSP debt.
The central bank decision immediately frees up nearly 70 percent of existing PERA-UITFs—nine of 13 funds—which were previously prohibited from buying BSP securities because they breached the 10-percent foreign ownership cap.
PERA UITFs are government-accredited investment products where a bank’s trust department manages funds pooled from several investors. They serve as the specific vehicle for the voluntary, tax-exempt PERA program, which aims to supplement standard retirement benefits for all Filipinos.
“The change would allow them to diversify their portfolio,” the BSP said, noting that the central bank’s move “helps Filipinos, both at home or abroad, build secure and sustainable retirement savings.”
The measure is also expected to help develop the country’s private pension system and strengthen domestic capital markets, the BSP said.

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Bangko Sentral ng Pilipinas (BSP)
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