AFP pension system goes online
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MANILA, Philippines - The Finance Center of the Armed Forces of the Philippines (AFP) has launched its website to provide soldiers and pensioners a cost-efficient, easier way of accessing information related to their salary and pension.
“The AFPFC upgraded their means by introducing a new and better system of service known as the AFPFC ‘Online Service Experience’. It posted on its official website Pay and Allowance Slip data of the Technical Administration Service (TAS), GHQ Civilian Employees (CE), Personnel and the Pension Verification Slip (PVS) of all AFP pensioners,” AFP acting deputy public affairs chief Maj. Enrico Gil Ileto said.
Through this innovation, the center’s clients can have readily available, (24 hours-a-day 7 days-a-week) data encrypted with their own security password for their information and reference.
“The objective is for the AFPFC’s clients to be informed on the status of their monthly earnings as well as deductions to monitor their loans for their updates to be available nationwide and accessible anytime, anywhere in the world,” Ileto said.
“Clients and pensioners may avail AFPFC’s online service by visiting their website at www.afpfinancecenter.com and by signing up an account at the pensioner’s tab/menu,” Ileto said.
Meanwhile, AFPFC chief Col. Rolando Picar said the financial institution will be paying its pensioners at a higher rate of monthly pension pursuant to Executive Order (EO) 900 effective February this year.
He said the increase, which places the pension rate on a par with salary in the active service, is the second batch of four tranches of increases based on the salary adjustment provision of the Congress’ Joint Resolution 4 s. 2009.
“The first tranche was implemented in the pension on January 2010. Based on the AFP retirement law, the increase given to those personnel in the active service would also warrant a commensurate increase in pension subject to availability of funds. The approved AFP pension budget for 2011 is P 24.1 billion,” he said.
The pensioners will also receive back pay representing the differential of the increase for the month of January.
Picar also said the AFPFC is continuously implementing the Pension Cleansing program to ensure that those listed in the payroll are legitimate pensioners only.
“Since its implementation in 2008, he said the program made possible the generation of multimillion savings from the yearly appropriated pension fund. The generated savings is used to pay the pension arrears upon approval of higher authorities,” said Picar.
The payment of four batches of differentials in 2008,2009 and 2010 amounting to P2.6 billion was made possible without additional release from the Department of Budget and Management.