Pension spending for retired military personnel exceeds spending to equip personnel who are in active service.
MANILA, Philippines – Finance Secretary Benjamin Diokno warned that the current pension system of the military and uniformed personnel would inflate public debt by as much as 25% by 2030, emphasizing the risk of fiscal collapse unless reforms are made.
The average monthly pension of retired MUPs is around P40,000, 8.8 times higher than the average pension received by those paying under the Social Security System and 2.9 times higher than the average pension under the Government Service Insurance System. “If we do not address the huge and rising unfunded liabilities of the current MUP pension system now, securing sufficient resources to provide for the benefits of future pensioners and their dependents will be extremely challenging,” Diokno said.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Military and uniformed personnel pension conundrum | Rex Anthony NavalRetirement pensions, especially for those who have served honorably in the Armed Forces of the Philippines and other uniformed services, must be treated as a vital part of an incentive package for retirees. Know more:
Baca lebih lajut »
Retired generals: Consider welfare of all affected by pension reformsRetired military and police generals said the welfare of all stakeholders who will be affected by the proposed reform in the pension of retired military and uniformed personnel or MUP must be considered as high-level consultations have been set today.
Baca lebih lajut »
DepEd extends public review of K to 10 draft revised curriculum until May 13To get more feedback from education stakeholders regarding the review of the country’s basic education curriculum, the Department of Education (DepEd) has announced the extension of the public review of the draft revised curriculum for Kindergarten to Grade 10.
Baca lebih lajut »
WHO urges public to turn over a new leaf as Covid-19 emergency phase endsWhile Covid-19 is no longer categorized as a global health emergency, the World Health Organization (WHO) reminded the public to learn from this health crisis and “change for the better.” ManilaBulletin
Baca lebih lajut »
Luis Manzano positive for COVID-19, reminds public as cases rise: ‘Be careful’Luis Manzano reminded the public to be safe as he disclosed that he had tested positive for COVID-19 for the first time since the pandemic started. The actor-TV host showed his COVID-19 test
Baca lebih lajut »
Forum highlights public-private partnerships as key to whole-of-society approach to immunization | BMPlusIn celebration of World Immunization Week 2023, the American Chamber of Commerce of the Philippines (AmCham), in partnership with MSD in the Philippines and the Pharmaceutical and Healthcare Association of the Philippines (PHAP), mounted a joint committee meeting on “Creating a Disease-Free Society through Immunization” at the Robert Sears Hall,…
Baca lebih lajut »