Philippine Retirement Authority

Address: 29/F BDO Towers Valero (formerly 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 (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 2001, 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

Mission

To provide an attractive, responsive, and nurturing retirement program to global retirees.

Vision

Philippines as a globally competitive and leading retirement destination in Southeast Asia by 2030.

Core Values

ADAPTABILITY

We are open to new ideas and ready to respond, embrace, and adjust to changes that make PRA thrive in a rapidly evolving global marketplace. We have a mindset and organizational culture that is open to technological innovation, staying up-to-date with trends, and continuous learning and improvement.

SUSTAINABILITY

We will continue to roll out high-impact strategies in promoting the SRRV to the world in order to grow our revenue and resources without sacrificing or compromising the well-being of PRA workforce, partners, retirees, and communities, and being mindful of the environmental, social and economic impact of our programs.

COMPASSION

We will institutionalize programs for the retirees and the PRA partners that show genuine interest of their experiences, goals, and challenges, and that would make them feel valued, included, and a sense of belonging. We will make PRA a supportive community that appreciates efforts, practices kindness and understanding, and celebrates successes of one another.

CUSTOMER-CENTRICITY

We will continue to serve our SRRV holders and the PRA partners with positive customer experience, and be responsive to their needs at all times. We shall continually gain understanding of our retirees’ persona, and gather as much information about their demographics, state of wellbeing, challenges and experiences in order to tailor programs and activities that guarantee satisfaction, and a sense of rapport and connection.

CULTURE SENSITIVITY

In serving and creating programs for our foreign retirees and international partners, we shall endeavor to understand, appreciate, and respect their diverse cultural backgrounds, perspectives, sensitivities, and social norms.

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.
    Validated Performance Scorecard:
    Updated as of 17 April 2024