Philippine Retirement Authority

Address: 29/F Citibank Tower, 8741 Paseo de Roxas, Makati City, 1200 Philippines
Supervising Agency: Department of Tourism (DOT)
Parent GOCC:
GOCC Type: Chartered GOCC
History

The Philippine Retirement Authority is a government-owned and controlled corporation created by virtue of Executive Order No. 1037, signed by former President Ferdinand E. Marcos on 04 July 1985.

On August 31, 2011, through Executive Order No. 26, the control and supervision of PRA was transferred to the Board of Investments (BOI)-Department of Trade and Industry from the Office of the President.

On May 2009, through the Republic Act No. 9593, otherwise known as Tourism Act of 2009, PRA became an attached agency of the Department of Tourism and placed under the supervision of the Secretary.

PRA is mandated to develop and promote the Philippines as a retirement haven as a means of accelerating the social and economic development of the country, strengthening its foreign exchange position, and at the same time, providing further best quality of life to the targeted retirees in a most attractive retirement package.

The Special Resident Retiree’s Visa (SRRV), which is a nonimmigrant, multiple-entry, indefinite-stay visa, the Philippines’ retirement visa is the PRA’s core product. The number of retiree-members represents an extremely important contribution to the PRA’s success.

On October 20, 2010, the PRA Board rationalized, expanded and branded PRA’s retirement visa product-line as follows:

  • SRRV SMILE Option - Visa deposit is simply deposited for end of term obligations
  • SRRV Classic Option – Visa deposit is convertible into property investments
  • SRRV Courtesy – for former Philippine-based diplomats and former Filipinos
  • SRRV Human Touch – for ailing retiree- applicants
Mission

To provide a globally competitive retirement program in the Philippines for foreign nationals and former Filipinos that will strengthen the sustainable socio-economic development of the country.

Vision

To make the Philippines the preferred retirement destination in South East Asia by 2022.

Core Values
  • Service Excellence

We push ourselves to provide high quality services at all times, taking on every opportunity as a chance to improve ourselves, in order to meet international standards and realize our ideals for excellence.

  • Innovation

We continuously explore new and dynamic ways to improve our work, drawing on our imagination and creativity in making things happen to produce the desired results.

  • Teamwork

We believe in working as One Team in order to achieve the PRA Mission and Vision, with each member of the team taking on a significant role towards successfully overcoming each of the corporate challenges.

  • Integrity

We uphold honesty and financial accountability in all aspects of our work, always maintaining our moral integrity and our dignity as respectable public servants.

  • Discipline

We continuously act in accordance with the rules of conduct and other regulations, and obey the laws, as well as the legal orders by the duly constituted authorities.

  • Good Governance

We hold ourselves accountable, and maintain transparency in all our actions, responsive to the needs of our nation and the society as a whole, deliver services that meet the needs of our stakeholders while making the best use of our resources, and follow the rule of the law.

  • Social Responsibility

It is our obligation to act for the benefit of our stakeholders, the environment, and the entire Filipino nation.

Disclaimer: All data presented above are submitted and provided by the respective GOCC as of under GCG Memorandum Circular 2014-02.
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For questions and clarifications, your Office may coordinate with the Selection and Nomination Division (SND) of the Corporate Standards Office (CSO) at the telephone number (02) 5328-2030 / (02) 5328-1000 locals 309, 322, 320 and 450 or email at snd_cso@gcg.gov.ph.
Enabling Law
Articles of Incorporation and By-Laws
    Disclaimer: All data presented above are submitted and provided by the respective GOCC as of under GCG Memorandum Circular 2014-02.
    Performance Scorecard:
    Validated Performance Scorecard:
    Updated as of 22 October 2021