AFP urges pensioners to settle accounts

From the Manila Bulletin (Apr 23): AFP urges pensioners to settle accounts

The Armed Forces of the Philippines (AFP) urged pensioners to settle their bank accounts used for pensions to ensure that they can get their benefits without a hitch.

In an advisory issued on Wednesday, AFP urged pensioners to apply or transfer their bank accounts only to authorized government servicing banks (AGSB) such as the Land Bank of the Philippines, United Coconut Planters Bank, Philippine Veterans Bank, and Development Bank of the Philippines. This is to avoid any problems in receiving pensions, especially those pensioners who have receiving accounts in other banks, AFP said.

AFP said pensioners should get a letter of introduction (LOI) in the nearest Finance Service Unit (FSU) in their respective area and submit it to any AGSB to open an AFP pension account.

A copy of the LOI and pension account number should be presented to Pension and Gratuity Management Center (PGMC) in Camp Aguinaldo, Quezon City until June 20, 2014, AFP added.

The advisory comes as the Department of Budget and Management announced the same day that it has released almost P10 billion funds for the pensions and other benefits of AFP personnel and war veterans.

Out of the total fund released, P7.5 billion was allocated for more than 120, 000 AFP pensioners, including 2,583 new beneficiaries for 2014, DBM said.

With this, AFP said it has been undertaking several security measures through its Pension and Gratuity Management Center (PGMC) to ensure the integrity of its beneficiary list and to avoid ghost pensioners.

Capt. Mark Posadas, AFP Public Affairs Office research head, told Manila Bulletin Online that the AFP has set up a system to ensure that only legitimate AFP pensioners will be included in their payroll system.

“This system entails regular coordination and crosschecking with other agencies like the Philippine Veterans Affairs Office, National Statistics Office, the Bureau of Immigration and the Ombudsman,” Posadas said.

The AFP also requires all pensioners “to update their status annually by appearing in person and submitting a proof of life,” Posadas added.

Moreover, a computer system called Pension Management Information System is being used to maintain all the data of AFP pensioners, he said.

“Various forms of information campaign are frequently conducted for the AFP active personnel to know the retire law and updated procedures and requirements for benefit application,” Posadas stressed.

Meanwhile, the other P2.40 billion fund was released by DBM for the 208, 458 members of the Philippine Veterans Affairs Office (PVAO) to cover their old age pensions, death pensions, disability pensions, and total administrative disability (TAD) pensions for the second quarter of the year.

Both funds were sourced from the Pension and Gratuity Fund under the 2014 General Appropriations Act (GAA), DBM added.

http://www.mb.com.ph/afp-urges-pensioners-to-settle-accounts/