AROUND P14 billion have been released by the Department of Budget and Management (DBM) to fund the regular pension requirements of military retirees.
In a statement, the DBM said Budget Secretary Amenah Pangandaman approved, on January 12, a Special Allotment Release Order (SARO) amounting to P14,025,351,666 to the Department of National Defense-Armed Forces of the Philippines (AFP).
The SARO and its corresponding Notice of Cash Allocation (NCA) cover pension requirements from January to March 2023, the DBM said.
The timely release of funds for the pension requirements of military retirees is one of the government’s initiatives to recognize their critical role in the security and stability of the country, which remains a priority of the Marcos administration, according to Pangandaman.
“It is our responsibility to make sure that our retirees, as well as their families, always get the benefits entitled to them,” Pangandaman said. “This is the least we can do to show them our sincerest gratitude and respect.”
The DBM said the fund is chargeable against the Pension and Gratuity Fund (PGF) under the 2023 General Appropriations Act (GAA).
Citing AFP payroll records as of December 31, 2022, the agency said that there were 137,649 pensioners covered by the monthly pension requirement for the first quarter of 2023.
metrosundaily
