The Philippine Retirement Authority (PRA) is a government agency tasked with promoting the Philippines as a premier retirement destination for foreign nationals and former Filipinos. It offers various retirement programs, most notably the Special Resident Retiree’s Visa (SRRV), which provides long-term stay privileges and investment opportunities. By attracting retirees to settle in the country, the PRA contributes to national development through increased foreign investments and tourism.
Established in 1985 through Executive Order No. 1037, the PRA was originally under the Office of the President before its supervision was transferred to the Department of Tourism in 2009 under Republic Act No. 9593. Its creation was driven by the vision to enhance the country’s economic growth by inviting global retirees to enjoy the Philippines’ quality of life, natural beauty, and hospitality. Understanding what the PRA does is important because it not only supports the economy but also showcases the Philippines as a competitive, senior-friendly global destination.
What is PRA
The Philippine Retirement Authority (PRA) is a government-owned and controlled corporation (GOCC) originally known as the Philippine Retirement Park System and operated under the Office of the President. It was created to attract foreign nationals and former Filipino citizens to retire, reside, and invest in the Philippines. It was established through Executive Order No. 1037 in 1985 and over time, its administrative oversight evolved: it was placed under the Board of Investments (BOI) in 2001 through Executive Order No. 26, and later attached to the Department of Tourism (DOT) in 2009 by virtue of Republic Act No. 9593 (Tourism Act of 2009).
It operates with the goal of managing and implementing retirement programs that promote the country as a retirement haven, with the goal of boosting socio-economic development and foreign currency inflow. Through its flagship program, the Special Resident Retiree’s Visa (SRRV), the PRA offers a range of benefits to retirees, including long-term residency, investment options, and lifestyle conveniences. Overall, the PRA serves as the gateway for global retirees looking to settle in the Philippines under a secure, structured, and government-backed system.
Why Retire in the Philippines Through PRA?
The PRA offers a stable, structured way for retirees to relocate and enjoy the benefits of living in the Philippines.
Here are some reasons why many choose the country:
- Affordable healthcare and housing
- Favorable climate and scenic locations
- Strong expat communities
- Government support via the SRRV and other programs
By facilitating these services, the PRA contributes to a seamless retirement experience for its members.
History
The Philippine Retirement Authority (PRA) was founded in 1985 as the Philippine Retirement Park System under Executive Order No. 1037, with Atty. Florencio Orendain as its first General Manager and former First Lady Imelda Marcos as Chairperson. In 1986, it issued its first Special Resident Retiree’s Visa (SRRV) and was renamed to its current name. By 1992, the PRA became financially self-sustaining, moved into its own office, and was recognized by the Civil Service Commission. In 2001, its oversight shifted to the Department of Trade and Industry’s Board of Investments, and by 2009, it was placed under the Department of Tourism through Republic Act No. 9593. From 2011 onward, PRA expanded internationally, rebranded its programs, improved operational standards, and forged partnerships with agencies like Interpol and the Bureau of Immigration.
Mission
“To offer a welcoming, comprehensive retirement program for global retirees.”
Vision
“To position the Philippines as Southeast Asia’s leading retirement destination by 2030.”
Core Values
The core values guiding the agency’s initiatives and help shape its long-term development strategy, include:
- Adaptability
- Sustainability
- Compassion
- Customer-Centricity
- Cultural Sensitivity
Logo
The PRA logo features a stylized image of a sun and a coconut tree, symbolizing the tropical warmth, optimism, and the welcoming nature of the Philippines, as well as the country’s vibrant energy and the promise of a bright, comfortable retirement for retirees. Incorporated within the design is the PRA’s name and the year it was established, reflecting the agency’s long-standing existence and commitment to its goal of attracting global retirees to settle in the country.
Board of Trustees and Leadership
The PRA is governed by a Board of Trustees composed of key government officials who craft and review policies, budgets, and operational strategies to meet PRA’s goals.
PRA’s Services and Assistance Programs
PRA offers a range of services and partnerships to support retirees:
- Special Resident Retiree’s Visa (SRRV): A non-immigrant visa granting multiple-entry privileges and long-term stay options to qualified foreign retirees and former Filipinos.
- ID and Servicing Requests: Online systems for document issuance and assistance.
- Retirement Assistance: Support programs tailored to retirees’ needs including healthcare access and accommodation partnerships.
- Accredited Partners:
- Banks
- Retirement Facilities
- Merchant Partners
- Real Estate Developers
- Travel Agencies
The Smile at Life in the Philippines Campaign
The PRA’s flagship branding campaign promotes the country as a warm, friendly place to retire. Through strategic marketing and global outreach, the campaign highlights the cultural richness, scenic destinations, and cost-effective lifestyle that make the Philippines a preferred retirement spot.
Digital Access and Public Engagement
The PRA has enhanced its digital presence to provide efficient public services. Features include:
- Online service requests
- Accredited marketer and merchant directories
- Citizen’s charter and downloadable resources
- Job and bidding opportunities
Retirees, partners, and citizens can also submit feedback and concerns through PRA’s official platforms.
E-Governance and Transparency Tools
PRA upholds transparency and public accountability through the following platforms:
- Freedom of Information (FOI) Portal
- Whistleblowing Platform
- Customer Satisfaction Measurement (CSM)
- Transparency Seal and Corporate Governance Scorecard
- Integrated Corporate Reporting System (ICRS)
These tools enable citizens to access public data, report issues, and monitor PRA’s compliance with good governance standards.
How PRA Contributes to National Development
By attracting retirees to invest and live in the Philippines, PRA contributes to:
- Foreign Exchange Growth: Retirees bring in foreign currency, supporting national reserves.
- Local Business Support: Through partnerships with local banks, housing developers, and service providers.
- Job Creation: The demand for medical, financial, and personal services opens employment opportunities for Filipinos.
- Infrastructure Development: Retirement communities and facilities spur local development.
Video: What are the Recent Changes at PRA
The Philippine Retirement Authority continues to support the country’s vision of becoming a retirement hub in Southeast Asia. With a clear mandate, experienced leadership, and a wide network of partners, the PRA provides retirement assistance that supports not just the retirees but also the nation’s economy. Through ongoing innovations and outreach, the PRA remains a key GOCC in promoting financial and lifestyle security for global retirees in the Philippines. Whether you’re a foreign national or a returning Filipino, the PRA opens the door to a fulfilling retirement in a country known for its warmth, beauty, and opportunities. Keep yourself updated with any change at the PRA by watching this video:
Contact Information
For inquiries or other concerns, you may reach out to:
Philippine Retirement Authority
- Office Address: 29/F BDO Towers Valero (Formerly Citibank Tower), 8741 Paseo de Roxas, Makati, Philippines
- Phone No.: 288481412
- Email Address: inquiry@pra.gov.ph
- Official Website: https://www.pra.gov.ph
- Official Facebook Page: https://www.facebook.com/PhilippineRetirementAuthorityOfficial/