DBM: Mid-year bonus included in gov’t workers’ pay hike release this year | INQToday

INQUIRER.net

12 Aug 202401:38

Summary

TLDRThe Budget Secretary Alena Pangandaman has announced the inclusion of the midyear bonus for government workers in their first tranche of salary increases, set to be released this year. The Department of Budget and Management has issued guidelines for the National Budget Circular and Local Budget Circular, with the publication expected soon. The bonus, retroactive from January, will be released as early as this month, depending on government agencies. The salary increase for national government employees, starting from January 2024 with yearly adjustments until 2027, will be funded by existing personal services funds, with any shortfalls covered by the miscellaneous personal benefits fund. President Marcos signed the order for the salary increase and additional allowance on August 2.

Takeaways

📢 The midyear bonus of government workers will be included in their salary increase for this year, as announced by Budget Secretary Amana Pangandaman.
📖 The Department of Budget and Management has released guidelines on the National Budget Circular and Local Budget Circular, with expectations of publication soon.
🗓️ The government agencies are expected to adjust the retroactive January bonus based on the new guidelines.
💰 The bonus amount is expected to be released as early as this month, depending on the government agencies' readiness.
📈 The first of four tranche salary increases for national government employees will start this year, retroactively from January 2024.
🔄 Subsequent yearly salary adjustments are planned from January 2025 to January 2027.
💼 Budget Secretary Pangandaman states that existing personal services funds will be used to implement the salary changes.
💡 Any shortfalls in the funds for salary adjustments will be covered by the miscellaneous personal benefits fund.
🏢 President Marcos signed an order for government workers' salary increase and additional allowance on August 2.
🔑 The implementation of the salary increase is a key initiative of the current administration to improve the financial well-being of government employees.

Q & A

What is the midyear bonus for government workers included in?
-The midyear bonus of government workers is included in the first tranche of their salary increase to be released this year.
Who disclosed the inclusion of the midyear bonus in the salary increase?
-Budget Secretary Alena Pangandaman disclosed this information.
What has the Department of Budget and Management released?
-The Department of Budget and Management has released the guidelines on the National Budget Circular and Local Budget Circular.
When is the publication of the guidelines expected to be released?
-The publication of the guidelines is expected to be released the day after the announcement.
Are government agencies expected to adjust the bonus retroactively?
-Yes, government agencies are expected to adjust the retroactive January bonus as per the guidelines.
When will the first tranche of salary increases for national government employees start?
-The first tranche of salary increases for national government employees will start retroactively from January 2024.
What is the timeline for the yearly salary adjustments following the first tranche?
-The yearly salary adjustments will follow from January 2025 to January 2027.
How will the required salary changes be funded?
-The existing personal services funds will be utilized to carry out the required salary changes, with any shortfalls to be covered by the miscellaneous personal benefits fund.
Who signed the order for government workers' salary increase and additional allowance?
-President Bong Bong Marcos signed the order for government workers' salary increase and additional allowance.
What is the source of funds for the shortfall in the salary increase plan?
-The shortfall in the salary increase plan will be covered by the miscellaneous personal benefits fund.
Is there a specific date mentioned for the release of the salary increase amount?
-The amount for the salary increase is expected to be released as early as this month, depending on the government agencies.

Outlines

00:00

📈 Midyear Bonus and Salary Increase for Government Workers

The Budget Secretary, Amena Pangandaman, has announced that the midyear bonus for government workers will be integrated into the first tranche of their salary increase, which is set to be implemented this year. This disclosure follows the release of guidelines on the National Budget Circular and the Local Budget Circular by the Department of Budget and Management. The publication of these guidelines is expected soon, with the possibility of the midyear bonus being released as early as this month, contingent upon the readiness of government agencies. The first of the four tranche salary increases for national government employees is planned to start this year, retroactively from January 2024, with subsequent adjustments annually from 2025 to 2027. The existing personal services funds will be used to execute the salary adjustments, with any shortfalls to be made up by the miscellaneous personal benefits fund. This initiative was initiated by President Bong Bong Marcos, who signed the order for the salary increase and additional allowances for government workers on August 2.

Mindmap

Keywords

💡Midyear Bonus

A midyear bonus is a one-time payment made by an employer to an employee, typically in the middle of the year, as a reward for their work. In the context of the video, the midyear bonus of government workers is a significant part of their salary increase, which is set to be included in the first tranche of the salary adjustment for the year, as announced by Budget Secretary Amana Pangandaman.

💡Salary Increase

A salary increase refers to a raise in an employee's base pay. In the video, the salary increase is a central theme, with the government planning to implement a retroactive salary increase for national government employees starting from January 2024, as part of a series of adjustments over several years.

💡Budget Secretary

The Budget Secretary is the head of the Department of Budget and Management in the Philippines, responsible for formulating and implementing the national budget. In the script, Budget Secretary Amana Pangandaman discloses important information about the midyear bonus and salary increase for government workers.

💡Department of Budget and Management (DBM)

The Department of Budget and Management is a government agency tasked with managing the national budget and ensuring fiscal responsibility. In the video, the DBM has released guidelines on the national budget, which include provisions for the salary adjustments and bonuses for government employees.

💡Tranche

In finance, a tranche refers to a portion of a larger amount, often used in the context of payments or funding being released in installments. The video mentions that the salary increases for government workers will be released in four tranches, starting from January 2024.

💡Retroactive

Retroactive refers to a change in a policy or law that applies to past events or periods. In the script, the salary increase for government employees is described as retroactive, meaning it will be applied from January 2024, even though it is being implemented later in the year.

💡Guidelines

Guidelines are a set of rules or recommendations intended to assist in decision-making or the implementation of policies. The video mentions that the DBM has released guidelines on the national budget, which government agencies are expected to follow in adjusting the bonuses and salary increases.

💡Publication

In the context of the video, publication refers to the official release or announcement of information, such as the guidelines on the national budget. The script indicates that the publication of these guidelines is expected soon.

💡Government Agencies

Government agencies are administrative units of government responsible for implementing policies and providing services. In the video, these agencies are expected to adjust the retroactive bonuses for their employees in accordance with the guidelines provided by the DBM.

💡Personal Services Funds

Personal services funds are budget allocations within a government agency intended for employee-related expenses, such as salaries and benefits. The video mentions that these funds will be utilized to carry out the required salary changes for government employees, with any shortfalls covered by the miscellaneous personal benefits fund.

💡Miscellaneous Personal Benefits Fund

The miscellaneous personal benefits fund is a financial reserve used to cover various employee benefits that are not categorized under standard salary or bonus payments. In the script, it is mentioned as a source to cover any shortfalls in the personal services funds needed for the salary adjustments.

💡President

The President is the head of state and government in a country, with the power to sign orders and decrees. In the video, President Bong Bong Marcos is mentioned as having signed an order for the salary increase and additional allowance for government workers.

Highlights

Midyear bonus of government workers will be part of their salary increase.

Budget Secretary Amena Pangandaman discloses inclusion of midyear bonus in salary increase.

Department of Budget and Management releases guidelines on the National Budget Circular.

Expectation of publication release tomorrow.

Government agencies are to adjust retroactive January bonuses.

Funds for the salary increase will be released as early as this month.

First of four tranche salary increases for national government employees starts this year, retroactive from January 2024.

Yearly salary adjustments are planned from January 2025 to January 2027.

Existing personal services funds will be used for salary changes.

Shortfalls in salary increase funds will be covered by the miscellaneous personal benefits fund.

President Marcos signed the order for salary increase and additional allowance on August 2.

The release of the midyear bonus is contingent on government agencies' compliance with guidelines.

The salary increase aims to enhance the financial well-being of government workers.

The budget circular is a significant step towards implementing the salary increase.

The guidelines ensure a structured approach to the salary adjustments.

The salary increase is a response to the economic and living conditions of government employees.

The implementation of the salary increase is expected to boost morale among government workers.

The salary increase is part of a broader reform in government employee compensation.