Admin revises MUP proposal, now offers 3 pension options READ MORE:
Under the new proposal, MUPs who avail of optional retirement are given the prerogative to choose among three options: a) receive all pension benefits in one lump sum upon retirement; b) 60 months advance, then the payment of monthly pension benefits will kick in after five years; and c) receive pension benefits at age 57.
The adjustments were made after initial consultations with the AFP and the Presidential Security Group. The economic team said it will continue to gather sentiments of the MUPs and introduce necessary improvements to the proposal to come up with a well-balanced solution. The President said he wanted both the AFP and the PNP to have a self-sustaining pension plan to avoid a scenario where there will be no more funds intended for their benefits.
Earlier, Defense officer-in-charge Carlito Galvez Jr. appealed to senators to consider the morale and welfare of the troops in tackling the proposed new pension system for MUP retirees.
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