DBM OKs release of P14-B fund for 137K military pensioners

From the Philippine News Agency (Jan 13, 2022): DBM OKs release of P14-B fund for 137K military pensioners (By Ruth Abbey Gita-Carlos)

(File photo)

MANILA – The Department of Budget and Management (DBM) has released PHP14 billion to finance the monthly pension of more than 137,000 eligible military retirees for the first quarter of 2023.

Budget Secretary Amenah Pangandaman approved on Thursday the release of a Special Allotment Release Order (SARO) amounting to PHP14,025,351,666 to the Armed Forces of the Philippines (AFP), which operates under the supervision of the Department of National Defense.

The SARO and its corresponding Notice of Cash Allocation cover the regular pension requirements of military retirees from January to March this year.

“The fund is chargeable against the Pension and Gratuity Fund (PGF) under the 2023 General Appropriations Act,” the DBM said.

The PGF is one of the several items in the 2023 budget placed by President Ferdinand R. Marcos Jr. under conditional implementation to ensure conformity with existing laws, policies, rules and regulations.

Under the 2023 budget, the PGF shall only cover the arrears for the period during which the military veterans were entitled to the total administrative disability pensions, among others.

As of Dec. 31, 2022, about 137,649 pensioners are covered by the monthly pension requirement for the first quarter of 2023, according to AFP payroll records.

Pangandaman said the timely release of funds for the pension requirements of military retirees signifies the government’s recognition of their critical role in the security and stability of the country.

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

“Malaking tulong ‘yan sa kanila. Matagal na panahon silang nagsilbi para tulungan at protektahan ang ating bayan. (That’s a big help for them. They served for a long time to help and protect our country.) This is the least we can do to show them our sincerest gratitude and respect,” she added.

https://www.pna.gov.ph/articles/1192647