The government wants to reform the military uniformed personnel pension system to avoid a “fiscal collapse,” Finance Secretary Benjamin Diokno said. | DFernandezINQ
Defense Secretary Carlito Galvez and Local and Government Secretary Benhur Abalos agreed to the government’s proposal.
“There’s unanimity… They [Galvez and Abalos] generally agreed with all the four [reforms],” Diokno said. The pension system covers those in the Armed Forces of the Philippines, the Bureau of Jail Management and Penology, the Bureau of Fire Protection, the Philippine National Police, the Philippine Public Safety College, the Philippine Coast Guard, and the Bureau of Corrections.
Currently, the MUP pension system is funded by the national government, and there is no contribution from the retirees. When personnel retires, he/she is given a rank higher, Diokno said, and the pension is “automatically indexed to the salary of the personnel of the same rank.”A military personnel’s average monthly pension is P40,000, said Diokno, noting that it is nine times bigger than the pension of those under the Social Security System and three times higher than those under the Government Service Insurance System.
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