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DepEd personnel to receive anniversary bonus
More than 958,000 teaching and non-teaching personnel will receive P3,000 bonus from the Department of Education as part of the weeklong celebration of the agency’s 125th founding anniversary. Based on the DepEd Order No. 11, s. 2023 entitled “Policy on the Grant of Anniversary Bonus in the Department of Education,” eligible DepEd personnel shall receive an anniversary bonus not exceeding P3,000, provided that they have rendered at least one year of service in the agency as of the date of the milestone year. The issuance states that all DepEd officials and employees employed on a full-time or part-time basis, permanent, coterminous, provisional, temporary, casual or contractual, whose employment is in the nature of regular employee, are eligible for the grant of anniversary bonus. On the other hand, who are absent without leave or no longer in the service as of 23 June, were found guilty of any offense in connection with their work during the five-year interval between the milestone years, as well as consultants, contract of service, job orders similarly situated, is not covered by the grant. In addition, the issuance aims to provide a multi-year policy guideline on the grant of anniversary bonuses to all DepEd officials and employees for every milestone year starting fiscal year 2023, and the milestone years thereafter. Founded on 23 June 1898, DepEd is mandated to provide quality basic education to learners, celebrates its 125th anniversary this year. Milestone years are defined as the government agency's 15th anniversary and every fifth year after that. The grant of the anniversary bonus shall not be earlier than 23 June of the milestone year. The post DepEd personnel to receive anniversary bonus appeared first on Daily Tribune......»»
Corregidor Foundation’s P61.6-M payment flagged
State auditors have called the attention of the Corregidor Foundation Inc. for paying P61.66 million in personnel services between 2018 and 2022 without presidential consent. The Commission on Audit said CFI’s total compensation framework was not approved by the Governance Commission for Government-Owned and -Controlled Corporations or GCG. CoA said the foundation disregarded the GCG’s recommendation that it submit a Total Compensation Framework in 2017 containing information like its compensation structure, financial and non-financial bonuses, and allowances. It said that CFI started drafting new employment contracts in February 2018 using GOCC rates under the Salary Standardization Law, thereby raising wages for all its employees. The CFI board passed a resolution that year to convert the foundation into a chartered government organization. CoA pointed out that CFI engaged in an unlawful compensation increase without obtaining the necessary legal authorization from the GCG and the Office of the President. CFI claims to be a private corporation that is therefore exempt from the application of Republic Act 10149, or the GOCC Governance Act. However, CoA countered that CFI is subject to audit because it was deemed a GOCC by the GCG in CoA Decision 2010-095 dated 21 October 2010 that was upheld by the Supreme Court The post Corregidor Foundation’s P61.6-M payment flagged appeared first on Daily Tribune......»»
SEAG medalists get incentives from MVPSF, POC
Achievers in the recent Southeast Asian Games in Cambodia led by gymnastics ace Carlos Yulo stand to receive cash bonuses worth P12.40 million from the Philippine Olympic Committee and the Manuel V. Pangilinan Sports Foundation......»»
Mid-year surprise for gov’t employees
Government employees are entitled to receive their mid-year bonus starting Monday (15 May), Department of Budget and Management Secretary Amenah Pangandaman confirmed on Sunday. Pangandaman made the confirmation as the civil servants are expecting their bonus this year as provided in the agency-specific allocation under the 2023 General Appropriations Act or GAA. “We know that this is one of the things that our fellow government employees are looking forward to since it will really help them with their daily needs,” Secretary Pangandaman said. “So, we are reminding all government agencies and offices to ensure the timely release of bonuses to their employees or as stipulated in our existing rules and regulations, starting 15 May,” the Budget Secretary added. The mid-year bonus is equivalent to one-month basic pay as of 15 May and shall be given to entitled personnel who has rendered at least a total or aggregate of four months of service from 1 July of the immediately preceding year to 15 May of the current year. The personnel shall also remain to be in the government service as of 15 May of the current year and has obtained at least a satisfactory performance rating in the immediately preceding rating period or the applicable performance appraisal period. The mid-year bonus will be given to all positions for civilian personnel, whether regular, casual, or contractual, appointive or elective, full-time or part-time, now existing or hereafter created in the Executive, Legislative and Judicial branches, the Constitutional Commissions and other Constitutional Offices, State Universities and Colleges, and Government-Owned or -Controlled Corporations covered by the Compensation and Position Classification System, and in local government units. Entitled personnel to receive the mid-year bonus also include the military personnel of the Armed Forces of the Philippines under the Department of National Defense and uniformed personnel of the Philippine National Police, Philippine Public Safety College, Bureau of Fire Protection and Bureau of Jail Management and Penology of the Department of the Interior and Local Government, Bureau of Corrections of the Department of Justice, Philippine Coast Guard of the Department of Transportation, and National Mapping and Resource Information Authority of the Department of Environment and Natural Resources. The grant of mid-year bonuses for personnel of covered GOCCs shall be determined by their respective governing boards. Furthermore, the grant of the mid-year bonus to personnel of provinces, cities, municipalities, and barangays shall be determined by their respective Sanggunian. The post Mid-year surprise for gov’t employees appeared first on Daily Tribune......»»
Demoralization rocks PNP personnel, retirees (2)
Below is the continuation of the reply of retired General Romeo V. Poquiz on the proposal of Finance Secretary Benjamin Diokno to reprogram the military and police retirement pension: “3. You said that pension indexation, where the retiree’s pension increases when the salary of those in the active service increases, must be stopped. Why pick only on the military or MUP? Indexation is also the case for pensioners in the Judiciary (judges and prosecutors), the Constitutional Commissions (Comelec, CoA, CSC), and the Energy Regulatory Commission. This is also the practice in most foreign armed forces. Further, we waited decades before the full implementation of indexation and it was only a couple of years back when the indexation was finally completed. You said the MUP pension scheme is unsustainable and will lead to fiscal collapse. Again, why pick on us only? As finance manager and as the highest-paid government official, it is your duty to explore all available options to solve the problem. You can start by returning most of your unconscionable P41.81 million annual salary, allowances, and bonuses, including those of your BSP colleagues. The law fixed your salary only at P150,000 monthly or P1.8 million annually, yet you received P41.81 million. You can also stop the pork barrel allocations of lawmakers and go after corrupt officials in all the departments, especially the revenue agencies under you — BIR and Customs. Further, improve the business climate in the country so that your touted investors in your many foreign travels may finally come and do business in the country. You said we receive huge pensions compared to SSS and GSIS and that the scheme stipulates we get pensions based on the rate of the next higher rank when we retire. Again, no point of comparison between military and civilian retiree entitlements. Also, you must have missed the gargantuan pensions aside from the huge salary and allowances plus the golden parachutes of high SSS and GSIS officials. Much more for you and your colleagues at the BSP who all belong to the top ten highest-paid government officials but only do minimal work in the comfort and safety of your fully air-conditioned suites and offices. Further, the MUP pension is very small when compared to international armed forces standards. You brought out the elephant in the room, Mr. Secretary. Go then, do your job, without opening your mouth too much, and without picking a fight against us military retirees. Even in the twilight of our lives, we fight our battles well. Sincerely, Romeo V. Poquiz MGen. AFP (Ret) Military Pensioner” The arguments expounded by the retired general demolished the rationale behind the mangling of the military and police pension as articulated by the Secretary of Finance. The latter, for his enlightenment, should thoroughly go over the response of the collective voice of the retirees as articulated by retired General Poquiz. (To be continued) The post Demoralization rocks PNP personnel, retirees (2) appeared first on Daily Tribune......»»
For fliers on credit
Frequent travelers know that every penny counts when it comes to maximizing travel rewards. Choosing the right credit card can make all the difference between a good trip and a great one. With so many credit cards available, it can be overwhelming to decide which one is right for you. Some tips for frequent air travelers can consider when choosing a credit card: Airline partnerships Using a credit card that is affiliated with an airline is one of the best ways to earn points or miles quickly. Every time you use the card, these airline and credit-card partnerships provide more opportunities to earn miles. Some even include lounge access, free comprehensive travel insurance and other perks that will elevate your travel experience. Low fx fees When you make purchases in a foreign country, you may incur an additional fee each time you use your card. Choosing a credit card with the lowest foreign currency conversion fee is one of the best ways to indulge in guilt-free shopping without the high foreign transaction fees while traveling abroad. Packed with rewards Some credit cards offer reward points for spending in specific categories such as online, dining, entertainment or travel purchases. Maximize your earnings by using a card that offers great bonus rewards for spending in these categories. Signup bonuses Many credit cards offer sign-up bonuses to new cardholders who meet a minimum spend requirement within a certain time frame upon credit card activation. These bonuses can be a great way to jumpstart your reward earnings, so you can reach your travel goals faster. Now that you know what to look for in a credit card for frequent travelers, consider the EastWest Singapore Airlines KrisFlyer Mastercard. This card is positioned as the best-in-class airline co-brand card in the Philippines, and it offers numerous benefits and perks to cardholders. The EastWest Singapore Airlines KrisFlyer Mastercard boasts of a generous spend-to-miles conversion rate, with cardholders earning three times more miles when they spend on Singapore Airlines Group, e-commerce, and cross-border purchases. In addition, cardholders can earn up to 15,000 anniversary bonus miles each year. You may also enjoy one of the lowest foreign currency conversion rate of 1.7 percent, up to four complimentary lounge accesses per year, and free comprehensive travel insurance and convenience insurance of up to P20 million for cardholders and their family members. The post For fliers on credit appeared first on Daily Tribune......»»
Philippine firms turn to bonuses to mitigate inflation
Almost half of employers in the Philippines are using bonuses to help workers survive the impact of elevated inflation, according to the results of a survey conducted by world’s leading professional services firm Mercer......»»
Opinion: Why college sports recruiting is treading dangerous ground
To get a leg up, the basic and most common of the perks was introduced – money. Or allowances. Later, they added signing bonuses or won-game bonuses. Hey, didn’t you know that the college game is the new pro sports?.....»»
Philippines to produce world champions again with new generation of fighters, says ONE CEO
Despite relinquishing the championship belt, the Philippines had a glimmer of hope in the stacked card as youngsters like Jhanlo Sangiao and Jeremy Pacatiw were able to eke out big wins that turned into US$50,000 bonuses as well from Sityodtong......»»
Vacant plantilla positions ‘milking cows’ for bonuses – lawmaker
Plantilla positions in the government are already funded annually so they have become “milking cows” for year-end bonuses when left vacant, a member of the House of Representatives said yesterday......»»
UK to scrap banker bonus cap in deregulation drive for growth
Britain's decision to remove a cap limiting bankers' bonuses comes in the midst of a cost-of-living crisis that has forced the government to spend tens of billions to help households and businesses pay their energy bills.....»»
How we wish
A Taiwanese national who works as the property custodian and computer services technician at the Taipei office of MECO is smiling broadly these days. This, despite the fact that we had to cut allowances across the board due to paltry finances. Last year, we gave out only the mandatory 13th month pay, while in previous years, we gave out more, including performance bonuses. We slashed the emoluments of top officials, even doing away with the standard diplomatic reception on Philippine Independence Day, and OFW Paskong Pinoy celebrations......»»
All You Need To Know About Double Chance in Football Gaming Profit
Football betting is abundant of sessions that can frustrate newbies. Betting websites don’t anticipate the dialect they practice. To numerous, the terms are solely disturbing. But it doesn’t have to be that approach. Double chance bets are created to satisfy both their requirements. These types of bets ordinarily require high bonuses at a moderately low […] The post All You Need To Know About Double Chance in Football Gaming Profit appeared first on Kagay An......»»
PNP releases P7.9 billion in Christmas bonuses, cash gifts
The Philippine National Police on Monday released P7.98 billion in Christmas bonuses and cash gifts to its personnel......»»
No Christmas parties for Cebu City Hall employees; bonuses in limbo
CEBU CITY, Philippines — The Cebu City government will not be holding any Christmas parties in all departments this year, and the fate of their Christmas bonuses hang in the air. Mayor Edgardo Labella made this announcement in a press conference on Monday, October 26. “There will be no Christmas Party as a gesture of […] The post No Christmas parties for Cebu City Hall employees; bonuses in limbo appeared first on Cebu Daily News......»»
COA flags DOT for P6.6 million unnecessary expenses
The Commission on Audit has flagged the Department of Tourism for P6.67 million worth of “unnecessary” and “extravagant” expenses that include hotel accommodations, rental of an exclusive resort, plane fares, gift checks and bonuses......»»
2 million employees may lose Christmas bonus
About 2 million employees of micro, small and medium enterprises may have to spend Christmas without bonuses, the Employers Confederation of the Philippines said Tuesday......»»
No paychecks for 11 big leaguers: advance larger than salary
By RONALD BLUM AP Baseball Writer NEW YORK (AP) — Grant Dayton will notice one glaring absence this season after he reports to the Atlanta Braves: his twice-a-month salary. He is among 11 major leaguers whose prorated pay for the abbreviated 60-game season amounts to less than the $286,500 advance already received by the 32-year-old left-hander. “It’s going to be weird not getting a paycheck,” he said Friday, “but we already got paid.” Dayton gave up the 6,776th and final home run of of last season's record total, to the New York Mets' Dominic Smith. To resume preparation for the new season he will drive Monday from his home in Winter Haven, Florida, to Atlanta with wife Cori, 2 1/2-year-old son Decker and nearly 6-month-old Nolan for Braves' workouts at Truist Park. After opening day was postponed because of the coronavirus pandemic, Major League Baseball and the players’ association agreed March 26 to a deal that called for teams to advance $170 million in salaries over the first 60 days of the season. Others who won’t get paychecks because of lower prorated salaries are Los Angeles Dodgers pitcher Jimmy Nelson and New York Yankees reliever Jonathan Holder ($277,778 each), Pittsburgh infielder Erik Gonzalez and Minnesota pitcher Matt Wisler ($268,519 apiece), Philadelphia catcher Andrew Knapp ($262,943), Chicago Cubs pitcher Jharel Cotton ($237,037), pitchers Collin McHugh of Boston, Ross Stripling of the Dodgers and Jesse Hahn of Kansas City ($222,222 each) and Milwaukee pitcher Freddy Peralta ($575,200). “My first reaction was, wow, if we don’t have any games this year, I’m going to get paid the same amount that Freddie Freeman’s getting paid, so that’s pretty cool,” Dayton said in a reference to his teammate, a four-time All-Star first baseman with a $22 million salary that was cut to about $8.15 million. “I knew that there was going to be a point that if we resume games, I wouldn't get paid. And I was OK with that because we still received significant amounts of money and we’re fine.” Each of the roughly 480 players with so-called “straight” contracts that call for a single salary received $286,500. The 769 players with “split” contracts that have a lower salary in the minor leagues — generally a younger group not yet eligible for arbitration — got either $16,500, $30,000 or $60,000, depending on their minor league pay level. Dayton, who has spent parts of three seasons in the majors, has a $655,000, one-year contract. His prorated salary for the short season will be $242,593, assuming the contagion does not cause more games to be canceled. The group won’t have to return any cash because the March deal states “in the event there is a 2020 championship season, any amounts advanced to individual players that cannot be recouped by clubs via payroll deduction during the 2020 season for any reason shall be reimbursed to clubs from the International Tax Fund at the conclusion of the 2020 season.” That tax fund is money collected from teams that exceeded their specified bonus pools to sign high-priced Latin American amateurs. “We’re blessed because we’re getting more money than the prorated amount,” Dayton said. Most of the group has relatively low salaries for arbitration-eligible players because of injuries that sidelined them and reduced their statistics. Nelson returned last June from shoulder surgery and was limited to three starts and seven relief appearances. McHugh missed September and the postseason with a sore right elbow and signed a deal with a $600,000 salary and $3.65 million in performance and roster bonuses. Cotton, Dayton, Hahn and Stripling all were interrupted by elbow surgery early in their careers, and Gonzalez missed more than half of last season after breaking his collarbone. Peralta has a low salary in 2020 as part of a $15.5 million, five-year contract he agreed to in March. Dayton was 0-1 with a 3.00 ERA in 14 relief appearances last year and is 1-3 with a 3.34 ERA in 68 big league games that included time with the Dodgers in 2016-17. He wonders how he will fare in arbitration next winter. “It's going to be a weird year and a short season, but I guess they’re going to have to treat it on paper like a real season, a championship season," he said. "And as far as contracts go in the future, they’re going to have to take the stats this year, which is kind of scary for a relief pitcher, to be honest because you have one bad game, it takes a whole year to get that back. The slow starters can't be slow starters anymore." Stripling, a financial adviser for B. Riley Wealth Management when he’s not playing baseball, negotiated a $2.1 million deal in January but was able to have $1.5 million designated as a signing bonus, which is protected and not reduced. Only the $600,000 specified as salary in the contract gets prorated. “It will be strange to receive no money or paychecks throughout the year,” he said. “I’m thankful for my background in finance, because I’m comfortable with my ability to budget. I do worry about the 10 other guys in my situation. Technically will be receiving zero income until next April. That’s a long time to budget ahead.” One option for players could be licensing money they are owed that had been retained for them by the union. “Our PA is offering a stipend of sorts for guys in similar situations,” Stripling said. “But I don’t know how much money or how often they can receive it. It also comes from our `war chest,′ which is money saved for salaries in case of a work stoppage in 2022. Most guys will try to avoid pulling money from that unless they are in dire situations.”.....»»
Sad reality: Goodbye 13th month pay, other bonuses!
TILA may-ari ng mga negosyo at mistulang mga negosyante ang ilang mga officials ng Department of Labor and Employment (DOLE). Biruin ninyo naman, naglabas ang DOLE ng Labor Advisory 17 na pwede nang mag-voluntary agree ang employer at employee to reduce wage and benefits of employees to allow the business to recover from crisis brought […] The post Sad reality: Goodbye 13th month pay, other bonuses! appeared first on Bandera......»»
MLS players agree to salary cuts, possible tournament
By ANNE M. PETERSON AP Sports Writer The Major League Soccer Players Association voted to approve economic concessions for this season, including across-the-board salary cuts, while also agreeing to play in a proposed summer tournament in Orlando, Florida. The proposal, made public by the union Sunday night, will now be sent to back to the league for approval by team owners. “While a difficult vote in incredibly challenging times, it was taken collectively to ensure that players can return to competition as soon as they are safely able to do so,” the MLSPA said in a statement. The MLS season was suspended March 12 because of the coronavirus pandemic. Teams had played just two games of the season. Major League Soccer gave its teams the go-ahead Thursday to begin small voluntary group training sessions outdoors. Teams must follow a strict protocol, as well as local public health and government restrictions. Not all of the league's teams have returned to training. Details of the Orlando tournament were still under consideration, but the league’s 26 teams and limited staff would be sheltered at hotels with games played without fans at ESPN’s Wide World of Sports Complex at Disney World. In addition to salary cuts, the union's proposal includes reduced team and individual bonuses, as well as concessions to the existing and future terms of the collective bargaining agreement. Details were not immediately available. MLS did not immediately comment on the proposal. MLS first announced last month it was exploring possible “changes to player compensation” because of the financial hit the league and teams were facing with the extended suspension in play. “We are seeking to work collaboratively with the MLSPA to find a solution that provides a safety net for all players, opportunity to earn full salary in the scenario where all matches are played with fans, and in particular provides protection for the players at the lower end of the salary scale,” the league said in a statement at the time. MLS and the players’ union agreed to terms of a new contract in early February, but it had not been ratified when the season was put on hold......»»