REPORT ON LBPEA NEB MEETING FOR JUNE 2014

Report on LBPEA NEB Meeting
June 2014

1. HMO Rebate - refund of 5% HMO rebate on total premium paid and excess in 13k TAB for credit to payroll account on June 30, 2014

2. Additional MIP3 - the LBPEA NEB requested for an additional MIP3 on its June 25, 2014 letter to Pres/CEO GEP.  The request was anchored on the fact that LBP remitted to govt P6.298 Billion this 2014 while last year it was only P6B.  However, the  MIP3 recently released was lower than last year.

3. KAMAGGFI Convention- the venue was in Angeles City, Pampanga  with its focus "confronting issues and challenges of RA 10149 and EO 7 for good corporate governance".  One significant policital figure who was invited as Resource Speaker was Senator Cynthia Villar.  She particularly mentioned that there will be no merger between LBP and DBP because of legal issue involving charters of both GFIs. She will be helping the GOCCs/GFIs on the CPCS.  Infact, she requested KAMAGGFI for a letter about the matter for her to personally make follow up with PNOY.  There are already bills filed in Congress to amend RA 10149.

4. LBPEA Financial Assistance - The guidelines for the LBPEA financial assistance is almost done except for a few finishing touches.  It will be out anytime soon.  This is part of the 3% CNA incentive which will be available for the LBPEA members in need of financial assistance in times of natural calamities, fire and medical needs.

5.CNA 2014 - the NEB will be submitting its intention to renegotiate with management the Collective Negotiation Agreement this July 2014.  Our CNA 2014 is now on its final preparation process.

6. PFO share taxability - the matter was deliberated by the NEB and one officer mentioned that we will have to wait for statement from the management who at present is preparing its support to prove that this PF share is exempted from taxation.