CLARK FREEPORT – Members of the CIAC Provident Fund Inc. (CPFI) – all 111 of them – were granted 100 percent revenue shares – a first in the history of the Clark International Airport Corp.
CIAC President Aaron Aquino said the CPFI officers will allocate all of Provident Fund’s net income from 2021 and will be distributed among members as Patronage Refund and Economic Relief Assistance ranging from P2,000.00 to P8,000.00 per employee-member.
“As we cautiously navigate through this ongoing pandemic, our Provident Fund officers stepped up again with this unprecedented grant of 100 percent revenue shares to members,” Aquino, who leads the government-run aviation firm, said.
CPFI is chaired by Irish Calaguas, also CIAC vice president for operations, with Lilibeth Enriquez, CIAC manager of the treasury department, as vice chairperson and concurrent CPFI president.
“The 100 percent distribution of income is a first in the CPFI’s history, and to sustain this momentum, we’ll have to ensure fiscal discipline and to continue providing loan assistance and other monetary benefits to members,” Calaguas said.
The Provident Fund is a savings scheme where monetary contributions from both the government agency and its member-employees serve as a loan facility and provider of supplementary welfare to personnel.
