DBM releases P11.6 billion for yearend bonus
Manila (5 November) -- The Department of Budget and Management (DBM) has released some P11.6 billion representing one-half of the yearend bonus and cash gift for the more than one million government workers.
In a report to President Gloria Macapagal-Arroyo, Budget and Management Secretary Rolando Andaya Jr. said that the release of the yearend bonus and cash gift will ensure that public workers will have something to tide them over the holidays.
"We have already released funds for the yearend benefits, knowing that these will help cheer up our government employees, especially at this time of the year" when they spend their time with their families to celebrate Christmas, Andaya said.
The yearend bonus is equivalent to one month basic salary while additional cash gift is P5,000. Government employees have already received one-half of their yearend bonus in the middle of the year. The rest of the yearend bonus is paid not earlier than Nov. 15 but not later than Nov. 30 of each year.
This year, the yearend bonus is higher owing to the consecutive 10 percent salary increases for government personnel the past two years.
Entitled to the yearend bonus and cash gift are officials and employees of all national government agencies (NGA's), state universities and colleges (SUCs), government-owned and controlled corporations (GOCCs), government financial institutions (GFIs), and local government units regardless of the nature of their appointment, whether permanent, temporary or emergency in nature.
Also covered by these benefits are contractual government workers who perform the functions of regular employee.
Andaya clarified that local government units, government financial institutions and government owned or controlled corporations are also authorized to source these benefits from their respective local or corporate funds. (PIA-MMIO) [top]