MANILA — Malacanang has ordered the abolition of the Armed Forces of the Philippines-Retirement and Separation System (AFP-RSBS) in an effort to curb inefficient public spending.
Memorandum Order No. 90 signed by Executive Secretary Paquito Ochoa Jr. said the interest liability of AFP-RSBS continues to grow and the government-owned and/or -controlled corporation (GOCC) now faces a depletion of its retained earnings by the end of November 2016.
The memorandum noted that the pension and benefits of retired AFP personnel continue to be funded through the General Appropriations Act (GAA).
“The GCG (Governance Commission for GOCCs) finds the abolition of AFP-RSBS to be the best interest of the State in order to improve national productivity and reduce ineffective and inefficient spending of public funds,” it said.
Pursuant to the liquidation of AFP-RSBS’s assets, the memorandum approved the privatization of its wholly owned subsidiaries, namely Monterossa Development Corp. (MDC) and Southern Utility Management and Services Inc. (SUMSI).
The AFP-RSBS Board, which shall act as the Board of Liquidators subject to oversight by the Governance Commission, is directed to cease collecting members’ contributions and accrual interest, and collect all indebtedness due to the AFP-RSBS.
The Board shall continue corporate operating budget for the continuation of leasing services, refund of AFP-RSBS members’ contributions as they fall due, and servicing of existing membership loan programs.
It shall also enter contracts for the sale of all its real estate assets, golf and country club shares, and all other personal properties.
Affected officials and personnel of AFP-RSBS may avail the separation benefits in addition to retirement or separation benefits allowed under existing laws.
To implement abolition, the GCG shall be assisted by a Technical Working Group composed of representatives from the Departments of National Defense, Finance, and Budget and Management; Privatization Management Office, AFP-RSBS, and AFP. –Leslie D. Venzon, Philippines News Agency
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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