The AFP Retirement and Separation Benefits System (hereinafter called “the System” or “AFPRSBS” for brevity) was created and duly organized under and by virtue of Presidential Decree P.D. No. 361, which was promulgated on December 30, 1973. The System was established as a funding mechanism to ensure the continuous payment of retirement and separation benefits due to the members of the Armed Forces of the Philippines (AFP). The System formally started its operations in 1976. To further strengthen the viability of its operations, certain provisions of P.D. No. 361 pertaining to membership and rate of contributions were amended by virtue of P.D. No. 1656 dated December 21, 1979 and P.D. No. 1909 dated March 22, 1984.
The System operates with the following sources: seed capital from the government of P200 Million, members’ contribution equivalent to 5% of the soldier’s basic pay, and retained earnings from investments. AFPRSBS, in turn, undertakes lending operations, money market and stocks investments, real estate investments, and other viable joint venture partnerships or subsidiary businesses.While the System strengthens itself financially and participates in the reform initiatives of the pension system of the military to realize its mission of self-sufficiency, it nonetheless seeks ways to offer products and services to its members. The products that members may avail of are advance refund of contributions, discounting of member’s leave commutation, multi-purpose loan and house and/or lot packages at discounted rates.
The continuing progress of the System is also attributable to management innovations and reforms. At present, AFPRSBS’ operations are guided by the System’s Ten-Point Agenda – Pension Reform Initiatives, Transparency & Accountability, Stakeholders Partnerships, Service to Members, Information Accessibility, Fund Growth, Investments’ Safety, Operational Efficiency, Values Formation, and Employee Morale & Welfare.
MISSION
“To orderly and efficiently wind down the operation of AFPRSBS, liquidate its assets, and return to members their contributions”
VISION
“To be the best provider of services to the AFP personnel until the full liquidation of the System’s Assets
CORE VALUES
TEN POINT AGENDA
The System operates with the following sources: seed capital from the government of P200 Million, members’ contribution equivalent to 5% of the soldier’s basic pay, and retained earnings from investments. AFPRSBS, in turn, undertakes lending operations, money market and stocks investments, real estate investments, and other viable joint venture partnerships or subsidiary businesses.While the System strengthens itself financially and participates in the reform initiatives of the pension system of the military to realize its mission of self-sufficiency, it nonetheless seeks ways to offer products and services to its members. The products that members may avail of are advance refund of contributions, discounting of member’s leave commutation, multi-purpose loan and house and/or lot packages at discounted rates.
The continuing progress of the System is also attributable to management innovations and reforms. At present, AFPRSBS’ operations are guided by the System’s Ten-Point Agenda – Pension Reform Initiatives, Transparency & Accountability, Stakeholders Partnerships, Service to Members, Information Accessibility, Fund Growth, Investments’ Safety, Operational Efficiency, Values Formation, and Employee Morale & Welfare.
MISSION
“To orderly and efficiently wind down the operation of AFPRSBS, liquidate its assets, and return to members their contributions”
VISION
“To be the best provider of services to the AFP personnel until the full liquidation of the System’s Assets
CORE VALUES
- Excellence
- Leadership
- Integrity
- Teamwork
- Empowerment
TEN POINT AGENDA
- Pension Reform Initiative
- Transparency and Accountability
- Stakeholder Partnership
- Service to Members
- Information Accessibility
- Fund Growth
- Investment's Safety
- Operational Efficiency
- Values Formation
- Employees Morale and Welfare