April 2, 2018

PDIC management and employees’ union sign agreement. Philippine Deposit Insurance Corporation (PDIC) President Roberto B. Tan (seated, right) and PDIC Employees Organization (PHILDICEO) President Baldwin L. Sykimte (seated, left) sign the Collective Negotiation Agreement (CNA) in simple ceremonies on March 6, 2018 at the PDIC office in Makati City. The Management and employee negotiating panels agreed to institute programs and implement campaigns to promote cost-cutting measures and systems improvement in the organization. The Agreement also includes training and scholarship programs, employee welfare such as legal assistance, health and wellness program, non-financial support for livelihood projects, pre-retirement programs for employees and provisions on union representation in pertinent committees. The Agreement likewise outlines PHILDICEO’s duties and responsibilities to assist PDIC in promoting teamwork and discipline in the work place. Also in the photo are members of the PDIC management and PHILDICEO negotiating panels. Officers of the Kapisanan ng Manggagawa sa Government Owned and Controlled Corporations at Government Financial Institutions (KAMAGGFI), and the National Union of Bank Employees (NUBE) also attended the CNA signing. The Agreement is the 5th CNA and shall be in effect for three years until 2021.

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The Philippine Deposit Insurance Corporation (PDIC) was established on June 22, 1963 by Republic Act 3591 to provide depositor protection and help maintain stability in the financial system by providing deposit insurance. Effective June 1, 2009, the maximum deposit insurance coverage is PHP500,000 per depositor. All deposit accounts by a depositor in a closed bank maintained in the same right and capacity shall be added together. A joint account shall be insured separately from any individually-owned deposit account.

PDIC news/press releases and other information are available at the website, www.pdic.gov.ph.