Marcos approves new round of pay, benefit hikes for GOCCs
More than 120,000 regular employees of the 219 government-owned and -controlled corporations (GOCCs) will receive another round of increases in their salaries and benefits for their role in delivering record contributions to state coffers.
“In support of the hardworking men and women who make this possible, I have approved the Compensation and Position Classification System II that will increase the salaries of GOCC employees. This is well-deserved,” President Marcos said in Malacañang on Tuesday, which marked GOCCs’ Day.
“I have also approved the provision of a tiered medical allowance for GOCC employees depending on the capacity, of course, of the GOCC,’’ he added.
Retroactive
The pay and benefit hikes shall be applied retroactively to Jan. 1, 2025, after the GOCCs receive the authority to implement the adjustments from the Governance Commission for GOCCs.
The Office of the President has yet to issue the executive order, which will serve as the legal basis for the increases.
The last hike in salaries and benefits for GOCC employees was implemented in October 2021 through Executive Order No. 150 of then-President Rodrigo Duterte.
In his speech, Mr. Marcos recognized GOCCs as “instruments of growth, equity and empowerment.”
“Through their contributions, we have built infrastructure, expanded services, invested in communities—especially those that have long been marginalized,” he said.
Significant growth
According to President Marcos, contributions of GOCCs have significantly grown through the years.
From 2011 to 2013, their dividend remittances only reached an average of P36 billion per year but in 2024, it hit P137 billion.
From January to September this year, GOCCs have remitted a whopping P116.84 billion in dividends to the national treasury.
The dividends came from 53 GOCCs, with 15 remitting at least P1 billion each, according to a list provided by the Department of Finance.
The Land Bank of the Philippines topped the list with P33.53 billion, followed by Bangko Sentral ng Pilipinas (P18.91 billion) and Philippine Amusement and Gaming Corp. (P12.68 billion).
Other top contributors included Philippine Deposit Insurance Corp. (P10.13 billion), Power Sector Assets and Liabilities Management Corp. (P8.95 billion), Bases Conversion and Development Authority (P5.33 billion) and Philippine Ports Authority (P5.20 billion).
