Good news for military retirees concerned about their upcoming pensions.
The Department of Budget and Management (DBM) has cleared the release of P14 billion to cover the regular pension requirements for retired military personnel from July to September 2024.
Budget Secretary Amenah Pangandaman gave her approval to release the funds requested by the Department of National Defense (DND) – Armed Forces of the Philippines( AFP) on June 14.
“The approval shows that the government is dedicated to honoring Filipino soldiers who have served and sacrificed much for the sake of the nation,” Secretary Pangandaman was quoted as saying in a DBM News Release dated June 24.
The DBM will release P14.046 billion to fund regular pension requirements for 139,172 pensioners.
The funds will cover everything military retirees and their legal beneficiaries need to resume, transfer, and restore pensions.
The Pension and Gratuity Fund will be charged for these funds under the Fiscal Year 2024 General Appropriations Act.
The SSS-GSIS Pensyonado (SGP) Partylist welcomed the DBM’s order to immediately release the pension of military and uniformed personnel (MUP) covering the 3rd Quarter period from July-September.
The SGP Partylist fully supports the continued legislation of the pension for MUPs.
