BSP lauds DOLE for promoting financial health programs

​The Bangko Sentral ng Pilipinas (BSP) commends the Department of Labor and Employment (DOLE) for promoting financial planning, savings, microinsurance, and the Personal Equity and Retirement Account (PERA) among private-sector employers and workers. 

In an advisory issued on 13 April 2026, DOLE encouraged employers to share information, education, and communication (IEC) materials that help workers better manage their finances. The DOLE’s initiatives are expected to improve workers’ financial health and boost transaction account ownership in the labor sector, both key advocacies of the BSP.

The advisory encourages financial planning, including the use of transaction accounts for receiving and transferring funds, monitoring expenses, managing personal budgets, and building savings for emergencies and other financial shocks.

It also promotes the use of microinsurance to help protect workers and their families from financial losses arising from accidents, illness, death, and natural catastrophes. The advisory also supports the adoption of PERA, a savings program that helps workers prepare for a financially secure retirement.  

DOLE urges employers to disseminate the IEC materials through digital or physical channels and to integrate these into workplace activities, such as orientations and town hall meetings.

Labor Advisory No. 6 supplements Labor Advisory No. 26 Series of 2020, which encourages the use of transaction accounts for wage payments. The BSP and DOLE are members of the Financial Inclusion Steering Committee, which works to advance financial health and inclusion through greater use of formal financial services.