DBM releases over P14B to fund pension of military retirees

Department of Budget and Management (DBM) Secretary Amenah F. Pangandaman approved on 12 January 2023 a Special Allotment Release Order (SARO) amounting to P14,025,351,666 to the Department of National Defense – Armed Forces of the Philippines (AFP) to cover the regular pension requirements of military retirees.

The SARO and its corresponding Notice of Cash Allocation (NCA) cover pension requirements from January to March 2023.

Pangandaman 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 Jr. administration.

“It is our responsibility to make sure that our retirees, as well as their families, always get the benefits entitled to them. Malaking tulong ‘yan sa kanila. Matagal na panahon silang nagsilbi para tulungan at protektahan ang ating bayan. This is the least we can do to show them our sincerest gratitude and respect,” Pangandaman said.

The fund is chargeable against the Pension and Gratuity Fund (PGF) under the 2023 General Appropriations Act (GAA).

AFP payroll records as of December 31, 2022 showed there were 137,649 pensioners covered by the monthly pension requirement for the first quarter of 2023.

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