President Ferdinand “Bongbong” Marcos Jr. delivers his speech during the commencement exercises of the Philippine Military Academy “Madasigon” Class of 2023 at Fort General Gregorio Del Pilar in Baguio City on May 21, 2023. (File photo screen grab from RTVM)
MANILA, Philippines — President Ferdinand “Bongbong” Marcos Jr. on Wednesday announced multi-sectoral discussions on the pension system for the country’s uniformed personnel are already ongoing.
He made this remark during his speech at the 86th anniversary of the Government Service Insurance System (GSIS).
He also mentioned the state pensioner is part of the talks.
“I take this opportunity to enlist the active and continuing support of the GSIS regarding a special matter. The pension system of our military and uniform personnel is such a monumental task with all the legal and financial setbacks that it has encountered,” Marcos said.
“Comprehensive multi-sectoral 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 noted.
The President added it is important that government establish the “most appropriate and strategic” mechanism for the pension system to get it functioning.
He earlier warned the pension fund for military and other uniformed personnel will be depleted in five to six years, unless government finds ways to make the pension system “self-sustaining.”
RELATED STORY:
Marcos warns of mup pension depletion if reforms not done