The Department of National Defense (DND) on Monday said the government is fully aware and recognizes the concerns of active and retired soldiers about the proposed reforms for the military uniformed pension (MUP) system to avoid a “fiscal collapse”.
In a statement, DND chief Carlito Galvez Jr. appealed for understanding among members of the ranks even as options are being carefully evaluated.
“We would like to give our assurance to our stakeholders that the government will always look after the welfare and livelihood of our men and women in uniform,” he said.
Galvez said they will also conduct consultations with active and retired uniformed personnel regarding the matter.
The DND chief stressed that the government is looking to adopt a more financially sustainable MUP pension system, which will be founded on sound financial solutions and application of actuarial science.
“The government’s economic team is undertaking financial simulations to determine our optimal option. Just like in the case of Republic Act No. 11709, we are doing our best to determine and address the unintended consequences that may arise from proposed reforms on the MUP pension system,” Galvez said.
He also shared that President Ferdinand R. Marcos Jr. is looking for creative ways to provide benefits for uniformed personnel in grateful appreciation for their service, as the country works towards its post-pandemic economic recovery.
“Thus, we are appealing to our stakeholders to be circumspect and understanding of those who are working on the issue, and support our efforts in seeking solutions that will be beneficial to all, especially for our national fiscal health,” Galvez added.
Source: Philippines News Agency