Establishment of the DENR Provident fund
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ESTABLISHMENT OF THEESTABLISHMENT OF THE DENRDENR PROVIDENT PROVIDENT FUNDFUND
SECRETARY RAMON J. P. PAJE EMPLOYEE WELFARE AND
BENEFITS PROGRAM
“MAY BUKAS PA SA PROBIDENSYA”
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A. A. LEGAL BASESLEGAL BASES
1.1. E.O. No. 641 dated 25 July 2007 E.O. No. 641 dated 25 July 2007 “Authorizing the Establishment and “Authorizing the Establishment and Administration of the Provident Fund Administration of the Provident Fund in the Government.”in the Government.”
2.2. DBM Budget Circular No. 2008-3 DBM Budget Circular No. 2008-3 dated 20 June 2008, “Rules, dated 20 June 2008, “Rules, Regulations and Procedure on the Regulations and Procedure on the Establishment & Administration of Establishment & Administration of the Provident Fund”the Provident Fund”
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B. B. OBJECTIVESOBJECTIVES
Section 2, (E.O. 641)Section 2, (E.O. 641)
The Provident Fund shall serve as a The Provident Fund shall serve as a savings and a credit facility that may savings and a credit facility that may cater to employees’ needs and shall cater to employees’ needs and shall provide supplementary welfare provide supplementary welfare benefits from the fund such as:benefits from the fund such as:
- Emergency needEmergency need- Educational needsEducational needs- HospitalizationHospitalization- Minor repair of house Minor repair of house (AO 279 dtd 5/5/92)(AO 279 dtd 5/5/92)
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C. C. POLICIESPOLICIES (Sec. 3, E.O. 641)(Sec. 3, E.O. 641)
a.a. Membership in the Provident Fund Membership in the Provident Fund (PF) shall be voluntary(PF) shall be voluntary
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
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D. D. FUNDING SOURCEFUNDING SOURCE (Sec. 4, E.O. (Sec. 4, E.O. 641)641)
a.a. Members contributions (determined by Members contributions (determined by the Board of Trustees)the Board of Trustees)
b.b. Initial government agency counterpart Initial government agency counterpart contributions in the form of support for contributions in the form of support for reasonable operating expenses, use of reasonable operating expenses, use of agency facilities and equipment.agency facilities and equipment.
c.c. Such other fund source as may be Such other fund source as may be provided by law, and those which the provided by law, and those which the Board of Trustees may thereafter Board of Trustees may thereafter identify as legal, valid and authorized identify as legal, valid and authorized funding source.funding source.
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Other fund sources (Sec. 5.3.3-BC 2008-3)
Note: Other options as to funding source
• MOWEL Fund (conversion into the Provident Fund)
• Budget Provision during the reprogramming• Income form exercise of regulatory functions
• Gifts
• Donations
• Savings generated by the office (Sec. 5.3.2.2 – BC 2008-3)
• Donations (BC # 2008-3)
• Proceeds from Fund Raising (BC No. 2008-3)
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E.E.ADMINISTRATION/ADMINISTRATION/GOVERNANCEGOVERNANCE(Sec. 3, AO 279 dated 5 May 2002)(Sec. 3, AO 279 dated 5 May 2002)(Sec. 5.6.1., E.O. 641(Sec. 5.6.1., E.O. 641
Board of Trustees Board of Trustees Chairperson (Level of USEC)Chairperson (Level of USEC) Vice Chairperson – level of ASECVice Chairperson – level of ASEC Members – proportionately Members – proportionately
representing employees from the representing employees from the 11stst, 2, 2ndnd and 3 and 3rdrd level level
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Proposed Members:Proposed Members:
Director, Financial Management ServiceDirector, Financial Management Service Director, Administrative ServiceDirector, Administrative Service President, ACEPresident, ACE President, DENREUPresident, DENREU President, KALIKASANPresident, KALIKASAN 2 Regional Executive Directors2 Regional Executive Directors 1 Regional Director, EMB1 Regional Director, EMB 1 Regional Director, MGB1 Regional Director, MGB 2 Second Level Representative2 Second Level Representative 2 First Level Representative2 First Level Representative
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F. F. ACCOUNTING AND ACCOUNTING AND AUDITING AUDITING REQUIREMENTSREQUIREMENTS
Keeping of Books of AccountsKeeping of Books of Accounts Operations subject to existing Operations subject to existing
accounting and auditing rules and accounting and auditing rules and regulationsregulations
COA to Audit (E.O. # 641)COA to Audit (E.O. # 641)
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RECOMMENDATIONSRECOMMENDATIONS
* AUTHORIZE/ORGANIZE THE * AUTHORIZE/ORGANIZE THE BOARD OF TRUSTEES (MIX OF BOARD OF TRUSTEES (MIX OF MANAGEMENT AND RANK AND MANAGEMENT AND RANK AND FILE) THRU A SPECIAL ORDER TO FILE) THRU A SPECIAL ORDER TO FORMULATE THE PLANS AND FORMULATE THE PLANS AND DIRECTIONS OF THE FUND.DIRECTIONS OF THE FUND.
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THANK YOUTHANK YOU
ADMINISTRATIVE SERVICE
7 JULY 2010