State Dining Room, Malacañan Palace
March 28, 2023

President Ferdinand R. Marcos Jr. presides over a sectoral meeting on the proposed military and uniformed personnel (MUP) retirement and pension system at the State Dining Room in Malacañan Palace on March 28, 2023.

This game-changing reform package, according to Department of Finance (DOF) Secretary Benjamin Diokno, is necessary to avert a fiscal crisis since the current MUP pension system is fully funded by the national government with no contribution from its personnel.

The proposed MUP reform package consists of the following: to apply to all active personnel and new entrants; removal of automatic indexation of pension to the salary of active personnel of similar rank; MUPs to receive pension starting at 57 years of age, subject to existing rules & regulations on minimum active service requirement; and mandatory contributions for active personnel and new entrants, similar to GSIS pensioners.

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The proposed Military and Uniformed Personnel Retirement and Pension System was the main topic of discussion at the Sectoral Meeting held on March 28, 2023. The meeting brought together key stakeholders, including representatives from various government agencies, military officials, and pension experts, to deliberate on the proposed system and its potential implications.

The main objective of the proposed system is to streamline and improve the retirement and pension benefits for military and uniformed personnel in the country. Currently, there are several different pension schemes in place for these personnel, leading to inconsistencies and disparities in benefits. The proposed system aims to address these issues by creating a unified and comprehensive retirement and pension system that is fair and equitable for all military and uniformed personnel.

During the meeting, participants discussed various aspects of the proposed system, including eligibility criteria, benefit calculations, funding mechanisms, and governance structure. There was a consensus among the stakeholders that the proposed system has the potential to significantly improve the retirement and pension benefits for military and uniformed personnel, ensuring financial security and stability for them and their families during their retirement years.

One of the key highlights of the proposed system is the introduction of a defined contribution plan, which would provide military and uniformed personnel with more control over their retirement savings and investment choices. This is seen as a positive development, as it would allow personnel to build up their retirement savings over time and potentially increase their overall benefits.

Another important aspect of the proposed system is the establishment of a dedicated pension fund for military and uniformed personnel, which would be managed by a professional pension fund manager. This would help ensure the sustainability and long-term viability of the pension system, as well as provide greater oversight and transparency in its operations.

Overall, the Sectoral Meeting on the proposed Military and Uniformed Personnel Retirement and Pension System was a productive and insightful discussion that highlighted the importance of reforming the current pension system for military and uniformed personnel. The stakeholders recognized the need for a more efficient and transparent system that will provide better retirement benefits for those who have dedicated their careers to serving and protecting the country.

As the discussions continue and the proposed system moves closer to implementation, it is crucial for all stakeholders to work together to ensure that the new system meets the needs and expectations of military and uniformed personnel. By doing so, we can create a retirement and pension system that is fair, sustainable, and beneficial for all those who have sacrificed and served our country.