THE Department of Budget and Management (DBM) said on Friday, January 13, 2023, that it has approved the release of more than P14 billion, which will be used for the pension requirements of military retirees.

The DBM said the release of Special Allotment Release Order (Saro) worth P14,025,351,666 for the Department of National Defense (DND)-Armed Forces of the Philippines (AFP) was approved by Secretary Amenah Pangandaman on Thursday, January 12, 2023.

The funds will cover pension requirements of retirees from January to March 2023. It will be charged against the Pension and Gratuity Fund (PGF) under the 2023 General Appropriations Act (GAA).

Pangandaman said the timely release of funds is one of the government’s initiatives to recognize the critical role in the security and stability of the country of the retirees.

“It is our responsibility to make sure that our retirees, as well as their families, always get the benefits entitled to them,” she said.

“This is the least we can do to show them our sincerest gratitude and respect,” she added.

As of December 31, 2022, there were 137,649 pensioners covered by the monthly pension requirement for the first quarter of 2023. (SunStar Philippines)