Mandatory contributions and annual salary increases for ten years are among the Marcos administration's military and uniformed personnel pension reforms, Albay Rep. Joey Salceda said on Thursday.
Mandatory contributions and annual salary increases for ten years are among the Marcos administration's military and uniformed personnel pension reforms, Albay Rep. Joey Salceda said on Thursday.
the creation of an MUP Trust Fund and a governance committee with the economic managers and the MUP services being represented; and retention of almost all other features of the MUP pension system. The proposed P5.768 trillion national budget for 2024 has earmarked P253 billion for the pension and gratuity fund.
Salceda expressed confidence that the MUP pension reform would not result in mass retirement because the new system would not create separate retirement regimes for different categories.
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