Ako Bicol Rep. Elizaldy Co (Photo from his Facebook account)
MANILA, Philippines — Officials from the House of Representatives are looking at government savings and other funding sources as a possible way to boost the military and uniformed personnel (MUP) pension fund, appropriations panel chair Ako Bicol Rep. Elizaldy Co said on Wednesday.
Co in a statement said that even before the executive department submits the proposed 2024 national budget to Congress, he and other House officials have been instructed by Speaker Ferdinand Martin Romualdez to check where funding can be sourced.
“Bago pa dumating ang hearings para sa 2024 national budget, hahanapan natin ng pagkukunan ng pondo ang pension ng ating mga sundalo, pulis, at iba pang uniformed personnel,” Co said.
(Before the hearings for the 2024 national budget, we will look at where we can source funds for the pension of our soldiers, policemen, and other uniformed personnel.)
Co said this after his fellow Bicolano, House Committee on ways and means chairperson and Albay 2nd District Rep. Joey Salceda announced before President Ferdinand Marcos Jr.’s second State of the Nation Address (Sona) that they were tasked to find a solution to the MUP pension fund concerns.
It could be remembered that Finance Secretary Benjamin Diokno warned that the ballooning pensions may lead to a fiscal collapse of the said fund — prompting President Marcos to ask economic managers to solve the issue.
READ: Marcos warns of MUP pension depletion if reforms not done
But Salceda said that they can solve concerns by pushing for a five percent cap on the yearly salary increases of MUPs — which in effect would bring down still-unfunded pension payouts from P9.7 trillion to P3.6 trillion.
Salceda said that several past presidents have increased the MUPs’ salaries by over 10 percent, which meant that their pensions would be higher eventually as pensions are based on the final salaries of officers.
READ: ‘Win-win solution’ to MUP pension woes proposed
Co said this approach by Romualdez and Salceda — to look at the unpaid pension liabilities as a staggered payment and not a single transaction — is a good way to look at the MUP pension fund.
“Maganda ang punto ni Speaker Martin na tingnan ito bilang installment at hindi isang bagsakang gastos. Sosolusyunan natin ngayong taon,” Co said.
(Speaker Martin’s position that this MUP pension liabilities can be done in installments and not as a one-time expense is good. We will not sit idly on this issue. We will find a solution this year.)
“Mahalaga kay Pangulong Marcos, Speaker Martin, at sa akin na maalagaan ang kapakanan ng ating mga uniformed personnel,” Co said.
(It’s important for President Marcos, Speaker Martin, and myself that we take care of the well-being of our MUPs.)
The solving of the MUP pension fund concern is part of President Marcos’ wish list of bills to be passed for Congress within the year. During the last meeting of the Legislative Executive Development Advisory Council (Ledac), the bill that would create a unified system for the MUP pension was labeled as one of the 20 priority measures.
READ: President Marcos shares legislative wish list in 2nd Sona
It is also one of the three Ledac-priority bills that the House has not yet approved, including the National Employment Action Plan and the Amendments to the Anti-Agricultural Smuggling Act.
READ: Congress tasked anew with Ledac bills to be passed by December 2023
READ: Romualdez vows swift House action on new set of Ledac priority bills