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PIA Press Release
2007/01/23

Gov't allocates P5-B for early retirement

By Rose B. Palacio

Davao City (23 January) -- The government has allocated P5-billion this year to pay for the retirement benefits of those who opt for early retirement, said Budget Secretary Rolando Andaya.

Those who opt to stay but are affected under the Rationalization Plan of the government will have to report to the Civil Service Commission which will find jobs for them within the government.

Andaya said concerned government employees will continue to receive their pay, but did not say what the effect of the move will be on their seniority or length of service -- a major factor in determining the rate of their retirement and pension benefits.

Under Executive Order 366 signed by President Gloria Macapagal-Arroyo, it has provided options and incentives for government employees who may be affected by the Rationalization of the functions and agencies of the Executive branch.

The Executive Order focuses its efforts on core governance functions and improve its performance. To attain improved government performance, there is a need to institute reforms that would transform the bureaucracy into an efficient and results-oriented structure.

Under EO 366, Rule V11 Retirement and separation benefits, affected personnel who opted to retire or be separated from the service shall continue to receive their salaries until such time that the GSIS and the government shall have given them their respective retirement/separation/unemployment benefits and incentives, provided that their properly accomplished application for retirement or separation has been approved or attested by the Department or Agency heads and they have submitted the complete set of required documents to the GSIS at least one (1) month before the date of retirement or separation. (PIA-XI) [top]

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