President Marcos Jr. Approves Compensation and Position Classification System for GOCC Employees

Strategic Insights -

President Ferdinand Marcos Jr. has given his approval to the Compensation and Position Classification System (CPCS) II, a move that will increase salaries for employees of government-owned or controlled corporations (GOCCs). According to the President, the salary hike is "well deserved" and will provide a tiered medical allowance based on each corporation's capacity. The President also emphasized the importance of GOCCs in nation-building, highlighting their crucial role in remitting billions of pesos in dividends to the government. This year, 53 GOCCs remitted a total of P116.84 billion, with 15 of them remitting at least P1 billion each.

Key Takeaways:

  • The Compensation and Position Classification System (CPCS) II has been approved by President Ferdinand Marcos Jr. to raise salaries for employees of government-owned or controlled corporations (GOCCs).
  • The salary hike is described as "well deserved" by the President, who also announced that GOCC employees will receive a tiered medical allowance based on each corporation's capacity.
  • The increases for GOCCs that implemented CPCS 1 will retroact to January 1, 2025, upon receipt of their Authority to Implement from the Governance Commission for GOCC.
  • The President has challenged GOCCs to invest in modern technology, simplify their processes, and cut down on red tape to provide easier access to services for Filipinos.
  • A total of P116.84 billion was collected in dividends from 53 GOCCs this year, with 15 of them remitting at least P1 billion each.
  • The yearly GOCC Day celebration highlights the crucial role of government corporations in nation-building and their contribution to the country's economy.
  • The Department of Finance spearheads the yearly GOCC Day celebration.

Statistics:

  • P116.84 billion: total amounts collected in dividends from 53 GOCCs this year
  • P1 billion: minimum amount remitted by 15 GOCCs this year
  • 53: number of GOCCs that remitted dividends this year
  • 15: number of GOCCs that remitted at least P1 billion this year
  • 2025: date from which increases for GOCCs that implemented CPCS 1 will retroact

Sources:

  • "President Marcos approves CPCS II, presents retention plan for GOCCs" / Philippines News Agency (PNA)
  • /das/abc