INTERIM PERFORMANCE-BASED INCENTIVE(PBI)

kasali po ba tyo dito?

Yes of course, we are covered by this GCG Circular. This is truly good news for us LANDBANKERs because the incentive is much better than our MIP2. The marginal rank without incentive is only 10% of the employees while the rest will be receiving more than 100% of the basic salary for those profitable GOCCs and LandBank has always been profitable.

However, my apprehension is this...will the PBI replace only MIP2 or the whole MIP1, 2, and 3. If it will replace only MIP2 much better for us but if it will replace the whole MIPs we will forget about step increment and profit sharing which is obviously unfavorable. Actually, we have not discussed this circular with the management yet since LBPEA learned about it only last Friday. We will try to know of the management's stand within the week because LBPEA 2008-2012 will have its LAST NATIONAL EXECUTIVE BOARD MEETING this December 14 and 15.

Maraming salamat po sa lahat ng tumulong at sumuporta sa aming mga National Officers sa LBPEA NEB 2008-2012!

we do hope it would only replace our MIP2 which is very UNFAIR... may LBPEA NED 2008-2012 will have a positive result on this matter...

we all know naman ano mga pagkakaiba ng mga MIPs ng LBP....

Again THANK YOU VERY MUCH FOR YOUR EFFORTS FOR THE PAST YEARS....

Sir Fortu: Salamat din po sa pag recognize nyo ng effort namin for the past years.

We already have data of the result of election per unit and we know those units who supported us.

Sa muli po ako ay nagpapasalamat sa mga naniwala sa amin. Sa hindi po nakuntento sa aming serbisyo naway matugunan po ang inyong mga ninanais pa ng mga bagong Officers ng LBPEA NEB.

MIP 1 represents step increment which is akin to the provision of SSL 3. MIP 3 "appears" to govern profit sharing (because no policy on this matter is available, though it is alleged that an EO on MIP 3 exists but kept as “confidential). On the other hand, MIP 2 concerns performance-based incentive. Since these 3 MIPs proceed from different bases, therefore they are distinct from each other.

The Interim Performance-Based Incentive (PBI) provided for in GCG MC No. 2012-11 (re-issued) is very similar to MIP 2 because both are performance-based. Both are given to employees based on their individual performance. Hence, if the MC will harmonize or standardize the performance based incentive system of LBP, it should only affect MIP 2.