DBM releases over P14 billion for military retirees' pension | Inquirer News

DBM releases over P14 billion for military retirees’ pension

By: - Reporter / @DYGalvezINQ
/ 10:28 AM January 13, 2023

Congresswoman France Castro laments the sad state of the AFP

General Headquarters of the Armed Forces of the Philippine s at Camp Aguinaldo in Quezon City (Photo from Radyo Inquirer)

MANILA, Philippines — The Department of Budget and Management (DBM) has approved the release of over P14 billion to the Armed Forces of the Philippines (AFP) for its retirees’ pension.

In a statement on Friday, the DBM said that Secretary Amenah Pangandaman approved a special allotment release order (SARO) to the Department of National Defense – AFP to cover the regular pension of military requirements.

Article continues after this advertisement

The SARO and the corresponding notice of cash allocation cover pension requirements from January to March 2023, the DBM said.

FEATURED STORIES

“It is our responsibility to make sure that our retirees, as well as their families, always get the benefits entitled to them,” Pangandaman said.

“Malaking tulong ‘yan sa kanila. Matagal na panahon silang nagsilbi para tulungan at protektahan ang ating bayan. This is the least we can do to show them our sincerest gratitude and respect,” she added.

Article continues after this advertisement

(That is a big help for them. They served for a long time to help protect the country.)

Article continues after this advertisement

The DBM said the fund is chargeable against the Pension and Gratuity Fund (PGF) under the 2023 national budget.

Article continues after this advertisement

Citing AFP payroll records, the DBM said that as of Dec. 31 last year, there were 137,649 pensioners covered by the monthly pension requirement for the first quarter of 2023. 

gsg/abc

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: AFP, budget, DBM, Military, pension

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.