Finance Secretary and ex-officio Governance Commission for Government-Owned or -Controlled Corporations (GCG) member Ralph Recto supported the immediate release of the long overdue retirement pay benefits of the Intercontinental Broadcasting Corporation (IBC) employees.
“My heart goes out to the IBC employees who have long waited for this time to come. The release of retirement benefits is not just a matter of obligation, but a promise we must honor,” Recto said.
“The Department of Finance will always stand ready to secure the rights of our people and provide them with the support they rightfully deserve,” he added.
During the GCG Board meeting on March 26, 2024, Recto zeroed in on the issue and strongly advocated for the immediate release of the P500-million retirement pay for 145 employees as earmarked in the 2024 General Appropriations Act (GAA).
After being pending for 22 years, the approval was formally signed via a resolution on April 11, 2024.
According to IBC-13 President and CEO Jimmie Policarpio, the retirement pay would benefit around 200 families.
IBC-13 is a state-owned television and radio broadcast station operating under the control and supervision of the Presidential Communications Office (PCO).
Malacañang announced this development last week, marking the end of a long wait for the concerned IBC retirees. The PCO said in a statement that their benefits have been disbursed.
According to the PCO, at least 25 retirees passed away before enjoying the fruits of their labor. It took 22 years and 28 management teams before the payment was made during the Marcos administration.
