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Manila Bulletin devider devider DBM releases P21.679 B for retired cops' pension hike, pension back pay

DBM releases P21.679 B for retired cops' pension hike, pension back pay

Published Jun 20, 2019 06:40 pm
By Aaron Recuenco  Barely six months after the increase in the salary of active policemen, it’s now the turn of the police retirees to get their share of pension hike and back pay. Police Col. Bernard Banac, spokesman of the Philippine National Police (PNP) (Facebook / MANILA BULLETIN) Police Col. Bernard Banac, spokesman of the Philippine National Police (PNP) (Facebook / MANILA BULLETIN) Police Col. Bernard Banac, spokesman of the Philippine National Police (PNP), said the Department of Budget and Management (DBM) has released a total of P21.679 billion to pay for the pension requirements and pension differential for police retiree starting this month until December of this year. Banac said the amount is still short of the original P28.053 billion the PNP leadership had requested for the payment of all its obligations to the police retirees, including pension hike. The pension hike was triggered by the big salary increase of active policemen that took effect in January this year. There are 86,876 retired PNP personnel. “The amount covers the pension requirements of retired PNP personnel adjusted to the base pay rates effective January 1, 2019,” said Banac. The pension hike for retirees is also backed by Congress Joint Resolution No.1 series of 2018. It covers the period June to December 2019; and pension differentials for the period June to December, 2019. Banac said the PNP is now preparing the computerized payroll for the pension payments that will be credited to the individual ATM pension accounts of PNP retirees. Pension differentials, he said, will be received by individual pensioners on June 29 while adjusted pensions will be received effective July 16.
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