Home Headlines CIAC’s Provident Fund provides assistance to workers

CIAC’s Provident Fund provides assistance to workers

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CIAC PROVIDENT FUND PROVIDES ASSISTANCE TO WORKERS. Clark International Airport Corp. (CIAC) President and CEO (Ret.) Gen. Aaron Aquino (3rd from left) join the newly-elected and appointed officers of the CIAC Provident Fund Inc. (CPFI) and the CIAC Employees Association Inc. (CEAI) after administering oath-taking cermonies: (L-R) Board Trustees members Kathleen Limjoco-Gozo and Miriam Pamindanan; Chairperson Irish “IC” Calaguas (CIAC VP for Operations); Vice-Chairperson Lilibeth Enriquez (CIAC Treasury Department Manager); and Trustee Marwin Yambao. The CPFI reported that from its 2020 earnings and revenues, it was able to grant various loans to 113 members ranging from P30,000.00 to as much as P200,000.00. (CIAC-CCO)


 

CLARK FREEPORT —The top official of Clark International Airport Corp. (CIAC) on Monday cited the efforts of the firm’s Provident Fund and Employees Association in extending assistance and benefits to its 113 employees.

Retired General Aaron Aquino, CIAC president and CEO, said the CPFI’s quick resurgence under a new set of officers resulted to the granting of multi-purpose loans for members needing assistance, especially those adversely affected by the COVID-19 pandemic.

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.

The revival of CPFI is led by its chairperson, Irish “IC” Calaguas, who is also CIAC vice president for operations, and Lilibeth Enriquez, CIAC manager of the treasury department, as vice chairperson and concurrent CPFI president.

Both Calaguas and Enriquez are now on their second term as CPFI officers.

“This is the first time in the agency that the same officers lead both the Provident Fund and the CIAC Employees Association (CEA) and I have my full trust and confidence in the sound fiscal policies of the leadership,” Aquino said.

The CPFI reported that from its 2020 earnings and revenues, it was able to grant various loans to 113 members ranging from P30,000.00 to as much as P200,000.00.

CPFI also distributed monetary dividends to members, paid in advance the health maintenance and life insurance fees with no interest charges, and partially settled its outstanding debts to the government agency.

CIAC’s Provident Fund ceased its loan facility services in 2019 right after the Clark airport’s operations were privatized in 2019 resulting to the CPFI’s drastically reduced membership.

Some 316 out of 434 CPFI member-employees were transferred to the airport’s private operator which prompted the CPFI to subsequently distribute the corporate and personal shares of its members.

CIAC’s Employees Association, on the other hand, provided life and health insurance to the employees, including their family members.

 

 

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