DragonFi launches PHL’s first fully digital PERA service

DRAGONFI SECURITIES, Inc. has launched PERA+, the country’s first fully digital personal equity and retirement account (PERA) platform, offering an online facility for Filipinos to open and manage retirement accounts.

“PERA+ modernizes the way Filipinos prepare for retirement. We’ve made the process digital, simple, and accessible, empowering more Filipinos to take control of their financial future, starting today,” DragonFi Co-Founder and Chief Executive Officer Jon Carlo C. Lim said in a statement on Tuesday.

The platform allows paperless account setup and management, removing the need for branch visits. It provides PERA investment options, including stocks and funds, along with tax incentives such as a 5% tax credit on contributions, tax-free investment growth, and the absence of estate tax on inherited assets.

PERA is a voluntary retirement savings program that supplements benefits from the Social Security System, Government Service Insurance System, and employer-provided plans.

In September 2023, the Securities and Exchange Commission (SEC) issued Memorandum Circular No. 14, expanding eligible PERA administrators to include securities brokers, investment houses, and fund managers.

DragonFi became the first PERA administrator accredited under this framework in January.

To boost adoption, the company launched a P10-million Matching Grant Program that provides a P5,000 matching contribution for new users who deposit at least P5,000 from Nov. 25 to Dec. 19.

“Financial inclusion starts with access. With our P10-million PERA Matching Grant Program, we’re helping Filipinos kickstart their retirement savings and build real wealth,” DragonFi Co-Founder and DoubleDragon Corp. (DD) Chairman Edgar “Injap” J. Sia II said.

DragonFi earlier said it secured the P10-million grant fund following its accreditation as the first PERA administrator. The grant, provided by Mr. Sia, is intended to encourage wider PERA participation.

The company said the initiative aligns with its goal to support long-term savings through digital platforms and data-driven tools.

Launched in May 2023, DragonFi is the stock brokerage arm of DoubleDragon Corp., an investment holding and real estate company. — Alexandria Grace C. Magno