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Will There Be a Salary Increase This Year, 2024?

 The possibility of a salary increase for government employees in 2024 remains uncertain but hopeful, according to recent statements from key stakeholders. Antonio Tinio of the ACT Teachers Partylist believes that a salary hike is possible this year if Congress and the Senate promptly pass the next round of the Salary Standardization Law (SSL) and allocate sufficient funds for its implementation.

Also read: Proposed Salary Standardization Law (SSL) VI

However, Tinio also cautions that if the legislative process is delayed and the necessary budget is not secured in time, the enactment of the new SSL may be pushed to Fiscal Year (FY) 2025.


Ongoing Compensation and Benefits Study

The Department of Budget and Management (DBM) is currently conducting a Compensation and Benefits Study, which aims to explore possible salary adjustments for government workers. This study is targeted to be finalized by the end of June 2024.


DBM's Assurance

The DBM has assured its readiness to support the implementation of the salary adjustment once it is approved. The department is committed to ensuring that civil servants receive a competitive and equitable compensation package. To achieve this, the DBM is exploring ways to fund the salary increase, potentially relying on excess revenue collected by the national government.


Conclusion

While there is a possibility of a salary increase for government employees in 2024, it largely depends on the timely passage of the SSL and the availability of funds. The outcome of the ongoing Compensation and Benefits Study by the DBM will be a significant factor in determining the feasibility and timing of the salary adjustments. Government workers and stakeholders will need to stay tuned for further developments in the coming months.

Will There Be a Salary Increase This Year, 2024?
Will There Be a Salary Increase This Year, 2024?


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