The Philippine Retirement Authority (PRetA) is a government-owned and controlled corporation created by virtue of Executive Order (E.O.) No. 1037, signed by former President Ferdinand E. Marcos on 04 July 1985.
On 31 August 2011, through Executive Order (E.O.) No. 26, the control and supervision of PRetA was transferred to the Board of Investments - Department of Trade and Industry (BOI-DTI) from the Office of the President (OP).
On 12 May 2009, through the Republic Act (R.A.) No. 9593, otherwise known as Tourism Act of 2009, PRetA became an attached agency of the Department of Tourism (DOT), and was placed under the supervision of the Secretary.
PRetA 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), the Philippines' retirement visa, is the PRetA's core product which is a non-immigrant, multiple-entry, and indefinite-stay visa.
On 20 October 2010, the PRetA Board rationalized, expanded and branded PRetA’s retirement visa product-line as follows:
(a) SRRV SMILE - Visa deposit is simply deposited for end of term obligations; (b) SRRV Classic – Visa deposit is convertible into property investments; (c) SRRV Courtesy – for former Philippine-based diplomats and former Filipinos; and (d) SRRV Human Touch – for ailing retiree- applicants
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.
To make the Philippines the preferred retirement destination by 2022.
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.
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.
We believe in working as One Team in order to achieve the PRetA Mission and Vision, with each member of the team taking on a significant role towards successfully overcoming each of the corporate challenge.
We uphold honesty and financial accountability in all aspects of our work, always maintaining our moral integrity and our dignity as respectable public servants.
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.
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.
It is our obligation to act for the benefit of our stakeholders, the environment, and the entire Filipino nation.
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