Under the new normal, the Philippine Veterans Affairs Office (PVAO) and the Land Bank of the Philippines (LANDBANK) have strengthened their collaboration to better serve Filipino veterans and retirees. The updated Memorandum of Agreement (MOA) for the Direct Remittance Pension Servicing System (DRPSS) has reduced procedures for opening pension accounts and formalized the crediting of other PVAO benefits such as medical and burial aid to LANDBANK retirees’ ATM accounts.
The MOA asks for the establishment of a veteran-related communication unit in every LANDBANK branch that handles PVAO pension accounts. More than 60,000 Filipino veterans and retirees now have access to LANDBANK’s expanded branch network and diverse product and service offerings, including individuals who formerly had accounts with United Coconut Planters Bank (UCPB). Pensioners can now use the Bank’s nationwide network of 2,802 ATMs to withdraw their pensions and other benefits.