Salceda explains proposed substitute bill on military pension reform

The Manila Times

Salceda explains proposed substitute bill on military pension reform  Albay Rep. Joey Sarte Salceda discusses a proposed substitute bill on the Military and Uniformed Personnel (MUP) pension reform at the House of Representatives on Tuesday, Aug. 16, 2023.  VIDEO BY RED MENDOZA  Subscribe to The Manila Times Channel - https://tmt.ph/YTSubscribe  Visit our website at https://www.manilatimes.net  Follow us: Facebook - https://tmt.ph/facebook Instagram - https://tmt.ph/instagram Twitter - https://tmt.ph/twitter DailyMotion - https://tmt.ph/dailymotion  Subscribe to our Digital Edition - https://tmt.ph/digital  Check out our Podcasts: Spotify - https://tmt.ph/spotify Apple Podcasts - https://tmt.ph/applepodcasts Amazon Music - https://tmt.ph/amazonmusic Deezer: https://tmt.ph/deezer Stitcher: https://tmt.ph/stitcher Tune In: https://tmt.ph/tunein  #TheManilaTimes #DailyNews #Salceda  #Bill #MUP #MilitaryAndUniformPersonnel #HouseOfRepresentatives

Transcript

00:00 Can you guys just stay there?

00:02 This is bigger.

00:04 No.

00:05 Okay, stay there.

00:10 Is it okay?

00:11 No.

00:12 So what are the salient points of the updated version of the MUPPT?

00:27 First, the economic managers, the Congress, and all the MUPPT members have agreed to include AFP, PNP, the Philippine Coast Guard, Bureau of Fire, BGMP, and the Bucor.

00:47 They have included Namriah because of that law.

00:54 So basically, number one, their increase is guaranteed for the next 10 years of 3%.

01:01 Second, we have harmonized that all of them will retire at 57.

01:10 Because now there are 56, and I don't know if there are 60, but definitely all of them will retire at 57.

01:19 Then, the indexation has been retained, but only 50% of their comparable rank has increased.

01:29 Then, the one rank higher is also retained.

01:34 But what's different is that they will have a contribution for the active members, they will have a staggered 579, and the government will start at 12, so 21%.

01:53 But the new entrants, 9 in the past, 12 in the national government.

01:58 So actually, if you think about it, the government will spend another P70 billion for their contribution for our MUPPTs.

02:12 So the increase is guaranteed, the fund is guaranteed, there will be no more arrears, because you will see that they have been arrears for 2-3 years, because they are not included in the fund.

02:25 So now, there is a relationship, they will not depend on the GAA, the General Appropriation.

02:32 There will be a contributory, meaning, we will all be equal, we will all get a pension, because we contributed.

02:43 Then, their pension is also guaranteed, it will also increase, so that 3% will be carried over to the pensioners.

02:55 Thank you.

02:56 Thank you.

02:57 Thank you.

02:58 Thank you.

02:59 Thank you.

03:00 Thank you.

03:02 Thank you.

03:04 Thank you.

03:05 (bell chimes)

03:07 [BLANK_AUDIO]

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