LIST: Highest Paid Government Officials in the Philippines in 2021

Central Bank Gov. Diokno is on top.
Photo/s: Bangko Sentral ng Pilipinas

Bangko Sentral ng Pilipinas Governor Benjamin Diokno was the highest-paid government official for the second consecutive year in 2021, with nine other executives of the central bank rounding up the top 10, according to a Commission on Audit report.

Diokno, who will serve as finance secretary under the incoming Marcos administration, received an income of over P41.81 million last year, more than double the amount he received in 2020 at P19.79 million, COA's 2021 Report on Salaries and Allowances or ROSA showed.


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Nine other BSP executives landed in the top 10, led by BSP Monetary Board members Victor Bruce Tolentino with P23.29 million, Felipe Medalla with P21.83 million, Antonio Abacan Jr. with P21.71 million, and Peter Favila with P21.67 million.

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Solicitor General Jose Calida, who placed second in the 2020 list, is now in the 12th spot with P16.59 million, while Government Service Insurance System president and general manager Rolando Macasaet, who ranked fourth in 2020, dropped to the 13th spot with P16.04 million.

Here's the list of the 15 highest-paid government officials in 2021:

  1. BSP governor Benjamin Diokno - P41.81 million
  2. BSP Monetary Board member Victor Bruce Tolentino - P23.29 million
  3. BSP Monetary Board member Felipe Medalla - P21.83 million
  4. BSP Monetary Board member Antonio Abacan Jr. - P21.71 million
  5. BSP Monetary Board member Peter Favila - P21.67 million
  6. BSP Monetary Board member Anita Linda Aquino - P21.43 million
  7. BSP deputy governor Chuchi Fonacier - P20.24 million
  8. BSP deputy governor Maria Almasara Cyd Amador - P20.18 million
  9. BSP deputy governor Francisco Dakila Jr. - P17.83 million
  10. BSP senior assistant governor Ma. Ramona Gertrudes Santiago - P17.31 million
  11. BSP senior assistant governor Elmore Capule - P17.25 million
  12. Solicitor General Jose Calida - P16.59 million
  13. GSIS president Rolando Macasaet - P16.04 million
  14. BSP senior assistant governor Iluminada Sicat - P15.55 million
  15. Supreme Court Associate Justice Alexander Gesmundo - P13.21 million
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The ROSA is published annually "in accordance with the general thrust of the government for transparency and accountability in its transactions and operations," COA said.

The report details the salaries, allowances and benefits received by officials of GOCCs, national government agencies, and state colleges and universities. It does not include elected officials.

It also compiles the additional compensation/honorarium, bonuses, extraordinary and miscellaneous expenses, and other remunerations and emoluments received by these officials.

Why BSP, GOCC executives rank high

Officials from the BSP and government-owned and -controlled corporations like the GSIS, whose salaries are not covered by Salary Standardization Law or SSL, often rank high in the annual list.

The SSL outlines the salary to be received by officials and employees working in the government. Depending on their salary grade, civil servants receive different amounts of salary under this scheme.

In the case of BSP governor, the central bank's charter provides that his salary is "fixed by the President of the Philippines at a sum commensurate to the importance and responsibility attached to the position."

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GOCCs, on the other hand, are covered by the Compensation and Position Classification System, which is established by the Governance Commission for GOCCs and approved by the President of the Philippines.

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