PVAO excludes rural banks as pension distributors

Rural banks are not allowed anymore to remit the pension benefits of aging war veterans, according to a recent decision of the Philippine Veterans Affairs Office (PVAO). In effect, the Rural Bankers Association of the Philippines (RBAP) was dismayed by the decision, saying it was meant to add burden to surviving Filipino war veterans. “The veterans have been used to securing their pensions through rural banks… Allowing only a number of commercial banks as remittance partners starting last December 2010 greatly limited the distribution of pensions," RBAP said in a statement. According to the PVAO decision, benefits may now be coursed through the United Coconut Planters Bank, Maybank Philippines, and Asia United Bank. RBAP pointed out that the branch networks of the cited banks were not as extensive as the group’s, making the delivery of veteran benefits more arduous than it ought to be. The banks of the association’s members are present in almost all municipalities of the Philippines, RBAP boasted. RBAP pointed out that PVAO did not consult them first on the withdrawal of the privilege. The agency, however, has refused to explain its action to them, it said. — JE, GMA News