If you’re moving your PERA from your current Administrator (e.g., BDO, BPI, ATRAM) to DragonFi, follow the steps below.
A quick reminder before you proceed
The PERA investment options currently available on DragonFi are:
BPI PERA Money Market Fund
BPI PERA Government Bond Fund
BPI PERA Corporate Income Fund
BPI PERA Equity Fund
If your current PERA investments are not listed above, you are still eligible to transfer. Your current PERA Administrator will liquidate the necessary assets as part of the transfer process. Once your PERA is with DragonFi, you can choose where to reinvest on the DragonFi platform.
We’ll be adding more PERA-eligible funds and investment options soon.
1. Submit the PERA Notice of Withdrawal / Termination to Your Current Administrator
Your first step is to notify your current PERA Administrator of your intent to transfer.
Submit the PERA Notice of Withdrawal/Termination form directly to your current Administrator’s branch of account.
Fill it out and sign it.
Leave Mode of Payment blank — the proceeds will go to the DragonFi, not your personal bank account.
Procedures, required forms, and submission methods may vary depending on the Administrator.
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You may ask your PERA Administrator’s PIC to reach out to vianca.adornado@dragonfi.ph to facilitate coordination.
2. Letter of Intent (LOI) between Administrators
After you inform DragonFi of your intent to transfer your PERA:
A Letter of Intent (LOI) will be exchanged between your current PERA Administrator and DragonFi.
The purpose of the LOI is to confirm that DragonFi accepts you as a Successor PERA Client and that the transfer is properly coordinated.
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The preparation and routing of the LOI may vary depending on your current Administrator:
Some Administrators require you (client) to issue the LOI, while
Others (e.g., ATRAM) prepare the LOI themselves and send it to DragonFi for confirmation and signature.
This step ensures the transfer is recognized as a valid Administrator-to-Administrator transfer and avoids unnecessary penalties.
Once your current Administrator receives both:
your Notice of Withdrawal/Termination, and
the acknowledged LOI,
they are required to act within a specific timeframe:
They must transfer all PERA assets to DragonFi within 15 calendar days from receipt of the complete transfer request.
Failure to complete the transfer within this period may make the former Administrator personally liable for any early withdrawal penalties imposed by the BIR.
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When done properly and in compliance with regulations, a PERA Administrator transfer is not considered an early withdrawal.
3. Submit the PERA Quitclaim to Your Current Administrator
You will also need to submit the PERA Quitclaim to your current Administrator.
This is typically submitted after they issue the Final Accounting.
If you prefer, you may submit the Quitclaim together with your Notice of Withdrawal/Termination; they will accept it upon receipt.
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The Quitclaim authorizes them to release your PERA proceeds to DragonFi once all requirements are cleared.
4. Wait for Final Accounting and Transfer of Proceeds
Your current Administrator will:
Liquidate the necessary assets in your PERA account to facilitate the transfer to DragonFi.
Prepare a Final Accounting of your PERA, and
Release the PERA proceeds to DragonFi
This step takes place only after they receive all required documents, including the Notice of Withdrawal/Termination, LOI, and (if applicable) Quitclaim.
5. PERAsys submission and DragonFi approval
Once your PERA Administrator has acknowledged your transfer and there is active communication between them and DragonFi, they must submit the transfer request via PERAsys.
DragonFi will approve the transfer on our end.
After approval, you (the client) can create your PERA account through the DragonFi app.
Next step (internal verification form):
Once your PERA Administrator has acknowledged the transfer and there is active communication with DragonFi, you may fill out the following form: PERA Transfer Verification Form
This form is for DragonFi’s internal verification only and is used to confirm the legitimacy of all incoming transfer requests.
Do not submit the form before your Administrator has acknowledged the transfer, as it is intended only after the process has been formally initiated.
6. DragonFi completes your PERA transfer
Once DragonFi receives the proceeds and confirms the accounting:
We finalize your PERA under DragonFi administration.
We will notify you as soon as the transfer is complete.
The process depends heavily on your current Administrator’s compliance with the 15-day transfer rule. Keep communication open with both sides for a smooth and timely transfer.