The Department of Budget and Management (DBM) has approved the release of P14.046 billion to cover the regular pension of military retirees for the third quarter of 2024.
DBM Secretary Pangandaman said the release of funds last June 14 was made upon the request of the Department of National Defense (DND) – Armed Forces of the Philippines (AFP) General Headquarters (GHQ).
“We are committed to ensuring the timely budget release of benefits to our esteemed military retirees. 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,” Pangandaman said.
The released budget is set to benefit a total of 139,172 pensioners including the requirements for the resumption, transfer, and restoration of pension of military retirees and their legal beneficiaries.
The said fund is likewise chargeable against the Pension and Gratuity Fund under the Fiscal Year 2024 General Appropriations Act.
