Collection Management on Pensioners’ Overpayments and the Determination Strategies Facilitated by the Armed Forces of the Philippines (AFP): Basis for an Enhanced Financial Policy

The study identified the collection management on pensioners’ overpayments and the determination strategies facilitated by the Armed Forces of the Philippines. The result of the study served as a basis on an enhanced financial policy for the Finance Service Unit that caters the AFP pensioners. Participants of the study were employees of AFP Finance Service Units in Luzon area mainly in Quezon City, PMA, Tarlac, PSG and Lucena City. The study utilized survey questionnaire and interview protocol in gathering data which served as the main tool in finding out the relevant data and information needed to answer the problems. Results revealed that majority of the respondents are men for it has been an all-men organization, but it was opened for all for the past years. They are mostly 30-39 years old that has been working for the AFP Finance Center for an average of 4-6years. The level of practice of the Finance Service Unit (FSU) in handling the collection management of AFP pensioners’ overpayments can be summed up that it focuses on controlling its collections as to depositing receipts immediately and recording the transactions made promptly. On the other hand, the degree of the FSU in facilitating strategies in determining overpayment of the AFP pensioners implies that the respondents strongly agree in enhancing the three dimensions of strategies which are Operational, Recording and Financial Strategies that the FSU’’s use in facilitating the determination on Pensioners’ Overpayments. There have also been challenges that the FSU’s encountered in terms of reporting and monitoring which results to having an overpayment on the pensioner’s side.