DBM RELEASES Php11.6B YEAREND BENEFITS

DBM Press Release, Wednesday, November 5, 2008

The coming Christmas season need not be glum, especially for government workers and their families. Providing good cheer, the Department of Budget and Management (DBM) has released some P11.6 billion representing one-half of the year-end bonus and cash gift for the more than one million workers employed in government. Budget and Management Secretary Rolando Andaya, Jr. said that the release of the year-end bonus (YEB) and cash gift will ensure that public workers will have something to tide them over the holidays. “We have already released funds for the year-end benefits, knowing that these will help cheer up our government employees, especially at this time of the year spent in celebration with the family,” Secretary Andaya said. The YEB is equivalent to one month basic salary while the additional cash gift is P5,000. Government employees, however, already receive one-half of YEB in the middle of the year. As per Budget Circular No. 2005-6 dated 28 October 2005, the rest of the year-end bonus should be paid not earlier than November 15 but not later than November 30 of each year. The year-end bonus is also higher this time around, taking into account the consecutive 10 percent salary increases of government personnel the past two years. Entitled to the payment of year-end bonus and cash gift are officials and employees of all national government agencies (NGAs), 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. Included in the grant of these benefits are contractual employees who perform the functions of a 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. “With this budget release, we are making sure that government employees will receive their year-end benefits on time and without delay,” Secretary Andaya added.