President Ferdinand Marcos Jr. is pushing for "self-regenerating" pension plans for both the Armed Forces of the Philippines and the Philippine National Police.
According to the Presidential Communications Office, Marcos wanted the AFP and the PNP to have a self-sustaining pension plan and to avoid a scenario where the funds will be depleted.
“So, bago pa mangyari ‘yun, inuunahan na natin. We are designing a better system,” Marcos said in a news briefing in Pagudpud, Ilocos Norte.
Marcos said the funds could start to shrink in five to six years.
“Now, we’re working hard on making sure that we have a pension plan both for the AFP and for the police,” Marcos said.
Marcos said he was also coming up with a housing program not only for the AFP and the PNP but also for other uniformed personnel.
“We are also putting together a program for housing for uniformed services, the police and the AFP … I think we will be able to do it at kasama na rin, maybe we can tie it up with the pension,” Marcos said.
“There are many measures para hindi masyadong mabigat para dun sa sundalo at sa mga police,” he added. —NB, GMA Integrated News