Xplained That The Senate 39s Discussions On Proposed Reform Point To Creation Ofa Dual Pension Structure This Will Retain Present And Retirement Benefits System Of Currently Active Retired Personnel While Applying Only Those Who Enter Service Upon Effectivity Law Some Changes Include Mandatory Contributions Fund Pensions News Today : Breaking News, Live Updates & Top Stories | Vimarsana

(File photo) MANILA - Officials from the Department of National Defense (DND) and Department of Finance (DOF) confirmed that the Duterte administration's proposed reform of the military and uniformed personnel (MUP) pension system will only apply to new entrants in the service. In a statement Monday, DND spokesperson Arsenio R. Andolong stressed that the reform aims to create a more financially sustainable MUP pension system. "While the versions in Congress and Senate have yet to be finalized, the reform intends to control the looming PHP9.6 trillion worth of unfunded pension liabilities, which may continue to grow if the current scheme prevails," he added. The DOF has also cited that the MUP pension reform is about saving the pension system and is crucial to the country's post-coronavirus pandemic fiscal and economic recovery. In a radio program last week, Valery Joy Brion, DOF spokesperson on the MUP pension reform, explained that the Senate's discussions on the ....

Government Service Insurance System , Arsenior Andolong , Department Of Finance , Department Of National Defense , National Defense , Valery Joy Brion , Ile Photo Manila Officials From The Department Of National Defense Dnd And Finance Dof Confirmed That Duterte Administration 39s Proposed Reform Military Uniformed Personnel Mup Pension System Will Only Apply To New Entrants In Service Ina Statement Monday , Nd Spokesperson Arsenior Andolong Stressed That The Reform Aims To Createa More Financially Sustainable Mup Pension System Quot While Versions In Congress And Senate Have Yet Be Finalized , He Reform Intends To Control The Looming Php9 6 Trillion Worth Of Unfunded Pension Liabilities , Hich May Continue To Grow If The Current Scheme Prevails , Uot He Added The Dof Has Also Cited That Mup Pension Reform Is About Saving System And Crucial To Country 39s Post Coronavirus Pandemic Fiscal Economic Recovery Ina Radio Program Last Week , Valery Joy Brion , Of Spokesperson On The Mup Pension Reform , Xplained That The Senate 39s Discussions On Proposed Reform Point To Creation Ofa Dual Pension Structure This Will Retain Present And Retirement Benefits System Of Currently Active Retired Personnel While Applying Only Those Who Enter Service Upon Effectivity Law Some Changes Include Mandatory Contributions Fund Pensions , Iscontinuation Of Automatic Indexation , Omputation Of Pension Benefits At Rank Upon Retirement , Djustment Of Pensionable Age , Reation Ofa Trust Fund Committee To Oversee The Mup Pension System , Nd Designation Of The Government Service Insurance System As Administrator Mup Pension Pna ,