Tuesday, September 22, 2020

Cops Get 30-Day Reprieve On Loan Payments

Cops Get 30-Day Reprieve On Loan Payments


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The Philippine National Police (PNP) on Monday ordered a 30-day moratorium on salary deductions for loan payments of its personnel from six accredited lending institutions in light of the coronavirus disease 2019 (Covid-19) pandemic.

The financial institutions, namely: Armed Forces and Police Savings and Loan Association Inc. (AFPSLAI), Public Safety Savings and Loan Association, Inc. (PSSLAI), Air Materiel Wing Savings and Loan Association, Inc (AMWSLAI), PNP Provident Fund, Public Safety Mutual Benefit Fund, Inc (PSMBFI), and Armed Forces and Police Mutual Benefit Fund, Inc. (AFPMBAI) have implemented their respective 30-day suspension of monthly payment of loans for PNP members without penalty as provided under Republic Act 11469 or Bayanihan to Heal as One Act.

Upon instructions of PNP chief, Gen. Archie Gamboa, Brig. Gen. Marni Marcos Jr., acting director for comptrollership, has coordinated with accredited private lending institutions regarding the suspension of loan deductions in order to augment the financial capabilities of PNP personnel.

Through this measure, PNP personnel will get a bigger take home pay which will benefit their respective families especially during the implementation of the enhanced community quarantine in Luzon.

Marcos said the 30-day reprieve will take effect in the April 2020 pay period and has instructed the PNP Finance Service to implement changes in the April payroll of 205,000 active-duty PNP personnel.

It is understood, however, that loan payment terms will be extended for one month and monthly amortization will resume in May.

The PNP earlier said it is speeding up the release of funds for the hazard pay of police personnel in front line duties.

So far, the Directorate for Comptrollership said policemen rendering duty at checkpoints were receiving a PHP235 daily hazard pay or a total of not more than PHP7,050 per month and this may be extended to all qualified personnel who are serving as front-liners in the Covid-19 pandemic.

Marcos said they are coordinating with the Department of Budget and Management to complete the cops’ PHP500 hazard pay per day. (PNA)

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