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Galvez: Gov't to look after stakeholders' welfare in MUP pension reform

Defense Secretary Carlito Galvez Jr. on Monday said the government would always consider the welfare of stakeholders as the military and uniformed personnel (MUP) pension system is reformed.

“Proposed reforms to the MUP pension system are still currently being studied, while we also conduct consultations with active and retired uniformed personnel regarding the matter,” Galvez said in a statement.

He added that the Department of National Defense recognized the concerns soldiers and retirees had over the MUP pension system and asked for their understanding as the DND evaluated reform options.

Galvez said the government was crafting a more financially sustainable MUP pension system founded on sound financial solutions and application of actuarial science.

“The government’s economic team is undertaking financial simulations to determine our optimal option,” said the Defense Secretary.

“Just like in the case of Republic Act No. 11709, we are doing our best to determine and address the unintended consequences that may arise from proposed reforms on the MUP pension system,” he added.

According to Galvez, President Ferdinand Marcos Jr. was looking for creative ways to provide uniformed personnel with benefits. — DVM, GMA Integrated News