Establishment of the DENR Provident fund

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Establishment of the DENR Provident fund

  1. 1. ESTABLISHMENT OF THE DENR PROVIDENT FUND SECRETARY RAMON J. P. PAJE EMPLOYEE WELFARE AND BENEFITS PROGRAM “ MAY BUKAS PA SA PROBIDENSYA ”
  2. 2. A. LEGAL BASES <ul><li>E.O. No. 641 dated 25 July 2007 “Authorizing the Establishment and Administration of the Provident Fund in the Government.” </li></ul><ul><li>DBM Budget Circular No. 2008-3 dated 20 June 2008, “Rules, Regulations and Procedure on the Establishment & Administration of the Provident Fund” </li></ul>
  3. 3. B. OBJECTIVES <ul><li>Section 2, (E.O. 641) </li></ul><ul><li>The Provident Fund shall serve as a savings and a credit facility that may cater to employees’ needs and shall provide supplementary welfare benefits from the fund such as: </li></ul><ul><ul><ul><li>Emergency need </li></ul></ul></ul><ul><ul><ul><li>Educational needs </li></ul></ul></ul><ul><ul><ul><li>Hospitalization </li></ul></ul></ul><ul><ul><ul><li>Minor repair of house </li></ul></ul></ul><ul><ul><ul><li>(AO 279 dtd 5/5/92) </li></ul></ul></ul>
  4. 4. C. POLICIES (Sec. 3, E.O. 641) <ul><ul><li>Membership in the Provident Fund (PF) shall be voluntary </li></ul></ul>b. Employee and Employers alike shall share roles in the establishment and administration of the Fund c. Provident Fund shall be managed by a Board of Trustees with equal representation from the employer and employee
  5. 5. D. FUNDING SOURCE (Sec. 4, E.O. 641) <ul><ul><li>Members contributions (determined by the Board of Trustees) </li></ul></ul><ul><ul><li>Initial government agency counterpart contributions in the form of support for reasonable operating expenses, use of agency facilities and equipment. </li></ul></ul><ul><ul><li>Such other fund source as may be provided by law, and those which the Board of Trustees may thereafter identify as legal, valid and authorized funding source. </li></ul></ul>
  6. 6. Other fund sources (Sec. 5.3.3-BC 2008-3) <ul><li>Note: Other options as to funding source </li></ul><ul><li>MOWEL Fund (conversion into the Provident Fund) </li></ul><ul><li>Budget Provision during the reprogramming </li></ul><ul><li>Income form exercise of regulatory functions </li></ul><ul><li>Gifts </li></ul><ul><li>Donations </li></ul><ul><li>Savings generated by the office (Sec. 5.3.2.2 – BC 2008-3) </li></ul><ul><li>Donations (BC # 2008-3) </li></ul><ul><li>Proceeds from Fund Raising (BC No. 2008-3) </li></ul>
  7. 7. E. ADMINISTRATION/GOVERNANCE (Sec. 3, AO 279 dated 5 May 2002) (Sec. 5.6.1., E.O. 641 <ul><li>Board of Trustees </li></ul><ul><li>Chairperson (Level of USEC) </li></ul><ul><li>Vice Chairperson – level of ASEC </li></ul><ul><li>Members – proportionately representing employees from the 1 st , 2 nd and 3 rd level </li></ul>
  8. 8. Proposed Members: <ul><li>Director, Financial Management Service </li></ul><ul><li>Director, Administrative Service </li></ul><ul><li>President, ACE </li></ul><ul><li>President, DENREU </li></ul><ul><li>President, KALIKASAN </li></ul><ul><li>2 Regional Executive Directors </li></ul><ul><li>1 Regional Director, EMB </li></ul><ul><li>1 Regional Director, MGB </li></ul><ul><li>2 Second Level Representative </li></ul><ul><li>2 First Level Representative </li></ul>
  9. 9. F. ACCOUNTING AND AUDITING REQUIREMENTS <ul><li>Keeping of Books of Accounts </li></ul><ul><li>Operations subject to existing accounting and auditing rules and regulations </li></ul><ul><li>COA to Audit (E.O. # 641) </li></ul>
  10. 10. RECOMMENDATIONS <ul><li>* AUTHORIZE/ORGANIZE THE BOARD OF TRUSTEES (MIX OF MANAGEMENT AND RANK AND FILE) THRU A SPECIAL ORDER TO FORMULATE THE PLANS AND DIRECTIONS OF THE FUND. </li></ul>
  11. 11. <ul><li>THANK YOU </li></ul>ADMINISTRATIVE SERVICE 7 JULY 2010

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