What is the Philippine Retirement Authority?

Many of us do not know this but there is a government office that is in charge of making the Philippines an attractive retirement destination.

The Philippine Retirement Authority (PRA) is a government owned and controlled corporation mandated to attract foreign nationals and former Filipino citizens to invest, reside and retire in the Philippines with the end-view of accelerating the socio-economic development of the country, contributing to the foreign currency reserve of the economy and by providing them the best quality of life in the most attractive packages.

It was created by virtue of Executive Order No. 1037 which was signed by then President Ferdinand E. Marcos on 04 July 1985. On 31 August 2001, through Executive Order No. 26, the control and supervision of PRA was transferred to the Board of Investments (BOI) from the Office of the President.

It's vision is to make the Philippines a globally competitive and preferred retirement destination in Asia. On the other hand, PRA's mission is to provide excellent and world class services centered towards customer-valued quality of life that is easy, pleasant and beneficial to foreign retirees and global Filipinos, as a channel of accelerating the socio-economic development of the country.

I'm just curious if the PRA also caters to local retirees. I certainly hope so.