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The Department of Budget and Management (DBM; Filipino: Kagawaran ng Badyet at Pamamahala) [1] is an executive body under the Office of the President of the Philippines.It is responsible for the sound and efficient use of government resources for national development and also as an instrument for the meeting of national socio-economic and political development goals.
The secretary of budget and management (Filipino: Kalihim ng Pagbabadyet at Pamamahala) is the head of the Department of Budget and Management and is a member of the president's Cabinet. The current secretary is Amenah Pangandaman. [1] The department has four undersecretaries and four assistant secretaries.
May 12 – The Philippine general election will be held. Voters will elect new members of the House of Representatives as well as 12 members of the Senate. [17] [18]June – The academic year (2025–2026) is being planned by the Department of Education to begin, as part of their efforts to revert to the old school calendar.
The Home Development Mutual Fund (HDMF), commonly known as the Pag-IBIG Fund (acronym of its Filipino name: Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industriya at Gobyerno [a]), is a government-owned and controlled corporation under the Department of Human Settlements and Urban Development of the Philippines responsible for the administration of the national savings program and affordable ...
For instance, if a local government employer contributes $1,500 in 2024, the employee may contribute only $21,500, keeping the plan to the $23,000 annual limit.
A traditional form of a defined benefit plan is the final salary plan, under which the pension paid is equal to the number of years worked, multiplied by the member's salary at retirement, multiplied by a factor known as the accrual rate. [9] The final accrued amount is available as a monthly pension or a lump sum.
In 2017, about 2.2 million people receiving pension from the SSS saw their take-home benefits increased by ₱1,000 with the approval of President Rodrigo Duterte. [15] Starting with a fund of ₱500,000 from the government, SSS' total assets grew to ₱474.7 billion and served 34.2 million members in 2016. [5]
The commission was founded in 1900 [2] through Act No. 5 of the Philippine Commission and was made a bureau in 1905. [3] The Civil Service Commission (CSC) is the central personnel agency of the Philippine government responsible for the policies, plans, and programs concerning all civil service employees.