Unang Balita is the news segment of GMA Network's daily morning program, Unang Hirit. It's anchored by Arnold Clavio, Susan Enriquez, Ivan Mayrina, Connie Sison, and Mariz Umali, and airs on GMA-7 Mondays to Fridays at 5:30 AM (PHL Time). For more videos from Unang Balita, visit http://www.gmanetwork.com/unangbalita.
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NewsTranscript
00:00 The cost of the pension of uniformed personnel could reach 1.5 trillion pesos in 2040.
00:08 That's why economic managers and youths agreed on the possible division of uniformed personnel and government for their pension.
00:17 We have first news, Macky Pulido.
00:24 Since the bankruptcy of the AFP's Retirement and Separation Benefit System in the 90s, soldiers were not able to save money for their contribution to their pension when they retire.
00:35 The government has already cut it, that's why there are annual allocations in the national budget for their pension.
00:41 In 2010, the government's spending was more than 45 billion pesos for the pension of military and uniformed personnel or MUP.
00:49 It has increased to more than 158 billion pesos in 2023.
00:54 The Pension Fund of Military and Uniformed Personnel has been trying to fix it for 17 years.
00:59 The Ad Hoc Committee for Military and Uniformed Personnel and Economic Managers was formed.
01:04 Finance Secretary Benjamin Diokno said that if this doesn't get fixed, from the 158 billion pesos of this year, the pension expenditure could rise to 290 billion pesos in 2028 and 1.5 trillion pesos in 2040.
01:21 According to the chairman of the committee, Congressman Joey Salceda, the initial round of agreement, 9% will be the contribution of the MUP, 12% will be the government's answer.
01:32 For a soldier of the Philippine Army who has a private rank, whose salary is 29,000 pesos, his contribution is 2,610 pesos per month and the government's contribution is almost 3,500 pesos.
01:45 This can be made staggered within three years. 5% of the MUP contribution in the first year, 7% in the second year, until 9% is reached.
01:55 I think it has the backing of the president. Right after the consensus, he was informed. And I prepared actually a memorandum for the president. And I was informed that he has the same thing in mind.
02:12 In the ad hoc committee's assessment, there will be a 3% salary increase every year within 10 years.
02:19 DNDSA said that they are still studying the 3% cap in the salary increase.
02:24 Financially, it might sound good. But with a highly evolving and technical armed force, we will need to have the flexibility to attract people to the service.
02:37 In the next session, the MUP trust fund will be formed led by the Department of Finance Secretary. The money will be held by the Bureau of Treasury.
02:46 Their insecurity will be gone if next year, the budget for pension is there. Now, they can be assured that the budget for pension will be there.
02:57 This is the first news. Mackie Pulido for GMA Integrated News.
03:03 [music]