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Manila Bulletin devider Philippines devider National devider Marcos: Talks ongoing for 'strategic' pension for uniformed personnel

Marcos: Talks ongoing for 'strategic' pension for uniformed personnel

Published May 31, 2023 04:37 am
Less than two weeks after making a call for a better pension system for the country's uniformed personnel, President Ferdinand "Bongbong" Marcos Jr. said discussions were now ongoing to at least lay down the foundation for a functioning system.
*President Ferdinand ‘Bongbong’ Marcos Jr. (Ali Vicoy)*

Marcos said this as he led the 86th-anniversary celebration of the Government Service Insurance System (GSIS) in Pasay City on Wednesday morning, May 31. In his speech, the President thanked the GSIS for participating in the ongoing discussions regarding the improved pensions system for the country's military and other uniformed personnel. "It is imperative that we establish the most appropriate and strategic mechanism to get it functioning- or at the very least to start to lay the foundation for the system that will function in the long run," he said. "Comprehensive multisectoral discussions are now ongoing, and I thank GSIS for your involvement and participation because your experience and your acquired skills have been an important part of this ongoing process," he added. On May 19, Marcos said the government was working on ["self-regenerating" pension plans](https://mb.com.ph/2023/5/19/marcos-eyes-self-regenerating-pension-plans-housing-programs-for-afp-pnp) for both the Armed Forces of the Philippines (AFP) and the Philippine National Police (PNP). However, he said these funds could start to shrink in five to six years as the government continues to reevaluate the pension system for the military and police to avert a possible fiscal collapse. Despite the challenges, the President said on Wednesday that there was a need to establish a "strategic mechanism" for the pension of the military and uniformed personnel as it was as important as that of civilian government workers. "The pension system of our military and uniformed personnel is such a monumental task with all the legal and financial setbacks that it has encountered," he said in his speech. "But we genuinely recognize that it is as important, urgent, and humanitarian as the pension system of all civilian government employees," he added. In May, Marcos signed [Republic Act No. 11939](https://mb.com.ph/2023/5/18/marcos-signs-law-amending-afp-officers-retirement-age-maximum-tenure), which limited the terms for military service years and adjusted the compulsory retirement age from 55 to 57.

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Bongbong Marcos military and uniformed personnel pension fund GSIS President Marcos
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