DBM releases P14B budget for military pensions
DBM releases P14B budget for military pensions
DBM releases P14B budget for military pensions
by Mhillen Nicole Borja14 January 2023
Photo Courtesy: CoinDesk/Wikiedia

The Department of Budget and Management (DBM) confirmed the release of a P14 billion budget for regular pension requirements of military retirees in the country.

According to Budget Secretary Amenah F. Pangandaman, the Special Allotment Release Order (SARO) for the pension was released on Jan. 12 to the Department of National Defense – Armed Forces of the Philippines (AFP) which covers January to March 2023 pension requirements.

This is to recognize the important role of military retirees in security and protection of the country, noting it as one of the priorities of the Marcos administration.

“It is our responsibility to make sure that our retirees, as well as their families, always get the benefits entitled to them. This is the least we can do to show them our sincerest gratitude and respect,” she said.

The budget will be charged on the Pension and Gratuity Fund (PGF) under the 2023 General Appropriations Act (GAA).

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