June 25, 2024 – Department of Budget and Management (DBM) Secretary Amenah F. Pangandaman approved the release of P14.046 billion to cover the regular pensions of military retirees from July to September 2024.
The allocation responds to a request from the Department of National Defense (DND) – Armed Forces of the Philippines (AFP) General Headquarters (GHQ). Secretary Pangandaman signed the approval on June 14, 2024.
“We remain committed to ensuring the timely release of funds for our military retirees' pensions. The approval of these funds demonstrates our dedication to honoring the service and sacrifice of our nation's defenders, and upholding our responsibility to protect their welfare,” said Secretary Pangandaman.
“This also forms part of President Ferdinand R. Marcos Jr.'s pursuit of a New Philippines where no Filipino is left behind,” she added.
The released budget will benefit a total of 139,172 pensioners. This includes requirements for the resumption, transfer, and restoration of pensions for retired soldiers and their legitimate beneficiaries.
The funds will be sourced from the Pension and Gratuity Fund under the Fiscal Year 2024 General Appropriations Act.
This release of funds signifies the government's commitment to supporting military retirees and their families. It is a crucial step in ensuring their well-being and recognizing their contributions to the nation.