
President Benigno S. Aquino III exchanges pleasantries with Stephen Solarz Memorial Fund founder Nina Solarz during the Courtesy Call at the Music Room of the Malacañan Palace on Friday (November 06, 2015). (MNS photo) MANILA (Mabuhay) – President Benigno Aquino III on Monday endorsed to Congress a proposed law that would mandate a four-year P226-billion compensation increase for government workers, the Department of Budget and Management (DBM) said. In a press statement, the DBM said the bill titled “Salary Standardization Law of 2015” or SSL 2015 was submitted to Congress for its approval. The salary hike will cover 1.53 million civilian and military and uniformed personnel. According to Budget Secretary Florencio “Butch” Abad, the compensation package is composed of a salary increase, a mid-year 14th month pay, and an enhanced performance-based bonus (PBB) system. If the bill is approved, the basic salary of covered employees will be increased on the average by 27 percent, while the 14th month pay will raise compensation by 8 percent, said the DBM. The enhanced PBB is equivalent to one to two months’ salary or an average 10 percent increase in salary. “The first tranche of the adjustment will take effect on Jan. 1, 2016, and the subsequent three tranches on every January 1thereafter until the final tranche in 2019,” Abad said. Abad noted that at the end of the four tranches, government compensation will be around 84 percent of its equivalent in the private sector. The lowest salary grade, Salary Grade 1 will be Read More …








