Bank retirees protest delay of benefits pay

CEBU, Philippines — At least 50 retired employees of the Philippine National Bank (PNB) yesterday staged a protest rally at the PNB-Cebu main branch in downtown Cebu City as part of a simultaneous nationwide action against the bank’s alleged refusal to pay their benefits.

The group of bank retirees, led by its president and spokesperson Josefina Dinsay, marched from PNB-Cebu Main Branch to Basilica Minore del Santo Niño where they culminated their activity with a prayer.

The retirees called out the PNB management for allegedly delaying the resolution and payment of their cost of living allowance (COLA) and Special Amelioration Allowance (SAA).

Dinsay said that for COLA alone the PNB management owes each of them at least P300,000 to P500,000 while P1million to P2 million each for SAA.

Aside from delayed payment of benefits, the retirees also complained of illegal deduction by PNB of GSIS gratuity pay from their separation/retirement pay;  iniquitous separation/separation pay;  dissolution of the PNB Employees Provident Fund;  and transfer of ownership of PNB Prime Real Properties to PNB Prime Holdings Corporation.

They demand that the GSIS retirement benefits and pension should be computed based on the total years of government service. They are also pushing for a proposed legislation granting lifetime pension to former PNB employees who were forced to receive gratuity pay arising from PNB’s privatization.

Lawyer Goldelio Rivera, legal counsel for PNB retirees, has already requested the appropriate committees of both the House of Representatives and the Senate to conduct an inquiry or investigation in aid of legislation and pursuant to their oversight powers and functions to determine possible violations by PNB of the laws and regulations and to determine the culpable acts and actions of the PNB Board of Directors and officers.

The PNB was privatized on May 26, 1996 but its full privatization took place several years later. Under a fully privatized PNB, Lucio Tan and his group became the majority or controlling stockholders. — (FREEMAN)