The Year-end bonus and Cash Gift is one of the most awaited and most talked about topics as the “Ber” months approaches.
Topics related to these are also one of the most asked question that we keep on receiving via private messages.
To finally deal with your anticipation, here’s a good news for you. According to the latest update from PNP Finance Service (PNPFS), the Year-end Bonus equivalent to the one month basepay and Cash Gift amounting to Php 5,000.00 will be released on November 15, 2019. Along with that, PNPFS also issued a set of guidelines for its implementation
Guidelines in the Payment of Year-End Bonus and Cash Gift for FY 2019:
A. The Year-End Bonus equivalent to one (1) basic pay as of October 31 and Cash Gift of P5,000.00 shall be given to entitled government personnel not earlier than November 15 of the current year, subject to the following conditions:
- Personnel has rendered at least a total or an aggregate of (4) months of service from January 1 to October 31 of the current year and
- Personnel remains to be in the government service as of October 31 of the same year.
For those who have retired or separated from government service
B. For those who have rendered at least a total or an aggregate of four (4) months of service from January 1 of the current year but who have retired or separated from government service before October 31 of the same year shall be granted within the month of retirement or
separation, a pro-rated share of the:
- Year-End Bonus based on the equivalent to the one month basepay and monthly basic pay immediately preceding the date of retirement or separation; and
- Cash Gift of P5,000 as follows:
Those who have rendered a total or an aggregate of less than four (4) months of service
C. For those who have rendered a total or an aggregate of less than four (4) months of service from January 1 to October 31 of the current year and are still in government service as of October 31 of the same year, shall be entitled solely to a pro-rated Cash Gift pursuant to Section 2 of RA No. 8441 as follows:
Important things to note
According to the DBM website, the release of the year-end bonus and cash gift is pursuant to Budget Circular No. 2016-4, which mandates that the said incentives be given not earlier than November 15 of the current year to qualified personnel satisfying the abovementioned conditions.
Finally, DBM said that on top of these bonuses, government employees can also look forward to receiving their Productivity Enhancement Incentive (PEI), which will be released starting December 15.
