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Recto backs MUP pension for new entrants only
The Philippine Star
|January 25, 2024
Finance Secretary Ralph Recto is pushing for changes in the pension scheme of military and uniformed personnel (MUP), but only for new entrants, in yet another deviation from his predecessor.
In his first briefing yesterday as head of the Department of Finance (DOF) and the government's economic team, Recto said the state has a social contract with MUP, but also emphasized the need for them to contribute.
He shares the same stand as his predecessor, now Monetary Board member Benjamin Diokno, but only to some extent.
"We promised them (MUP) a certain pension and so I think the government should respect that," Recto said.
"But what we can do for the reform is that all new entrants will have a different pension system similar to what civilians have."
Last September, the House of Representatives approved on second reading the MUP bill, but removed a key provision that would require active members to contribute.
This story is from the January 25, 2024 edition of The Philippine Star.
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