The Philippine National Police (PNP) has released funds totaling Php7,544,095,221.00 to pay for the mid-year bonus of 227,832 active duty PNP personnel.
According to PNP Chief, Police General Benjamin C Acorda, Jr., the allocated funds are derived from the regular PNP appropriations included in this year’s budget. The mid-year bonus is a legislated provision in the annual General Appropriations Act that serves as an additional form of compensation for qualified personnel.
In a report to the Chief PNP, PBGEN Bowenn Joey M Masauding, Director of the PNP Finance Service said that the PNP personnel will receive their MYB for 2023 thru their ATM Payroll Accounts enrolled with the Land Bank of the Philippines on May 18, 2023.
The grant of MYB FY 2023 is subject to the guidelines in reference to Fiscal Directive No 2023-08 entitled, Payment of Mid-year Bonus for FY 2023 and years thereafter”. MYB is equivalent to a one-month basic salary. Individual mid-year bonus exceeding P90,000.00 is subject to tax according to the Tax Reform for Acceleration and Inclusion (TRAIN) Law and BIR Regulations 11-2018.
Chief PNP Acorda reiterated the significance of this financial benefit, stating, “The mid-year bonus serves as a testament to our commitment to our personnel’s welfare. It is an acknowledgment of their dedication and sacrifices. I hope that they will utilize this bonus to augment their financial capability to support their respective families.”
The PNP remains committed to the well-being of its personnel, and the provision of the mid-year bonus is just one aspect of the organization’s continuous efforts to ensure their welfare, the Chief PNP said.
As a disciplinary policy, payment of mid-year and year-end bonuses is deferred for personnel with pending case and serving punishment.