The economic team has successfully completed 13 consultative meetings with all branches of the Armed Forces of the Philippines (AFP) regarding the proposed military and uniformed personnel (MUP) pension reform program.
According to a statement from the Department of Finance (DOF) yesterday, the meetings were held from May 25 to June 21, 2023.
“Our goal is to have a sustainable pension system for the military. We want to take care of our soldiers from the day they enter service up to their retirement,” said Maria Cielo Magno, DOF undersecretary.
The economic team is now working with the Department of National Defense (DND) and the AFP in refining the proposed pension system for the military personnel.
“We are grateful to the economic team for working closely with the military on the pension reform. We saw how the proposal has evolved to accommodate the concerns and comments of the troops on the ground during this month-long consultation series,” Erik Lawrence Dy, DND assistant secretary, said.
In addition to the AFP General Headquarters and service branches in Metro Manila, the group also visited the Philippine Military Academy, and all six unified commands of the AFP in Tarlac, Quezon, Cebu, Davao, Zamboanga and Palawan.
Representatives from the DOF, Bureau of the Treasury, Department of Budget and Management and the Government Service Insurance System emphasized the importance of investing in peace and security.
The key features of the proposal include a contributory system, annual review of the pension rate in lieu of indexation and various pension options for retirement.
In the coming weeks, the economic team will continue the consultative roadshows with the Philippine National Police and other uniformed personnel to discuss their respective pension programs.
