self-regenerating pension plans

PBBM eyes ‘self-regenerating’ pension plans for AFP, PNP; housing programs for uniformed personnel

President Ferdinand R. Marcos Jr. is pushing for self-regenerating pension plans for both the Armed Forces of the Philippines (AFP) and the Philippine National Police (PNP).

“Now, we’re working hard on making sure that we have a pension plan both for the AFP and for the police,” Marcos told reporters in a press briefing during the presentation of the 160-megawatt wind farm in Pagudpud, Ilocos Norte on Friday.

The President explained that he wanted the AFP and the PNP to have a self-sustaining pension plan, saying that he wanted to avoid a scenario where there will be no more funds intended for their pensions.

Marcos said these funds could start to shrink in five to six years, as government continues to re-evaluate the pension system for the military and police to avert a possible fiscal collapse.

“So, bago pa mangyari ‘yun, inuunahan na natin. We are designing a better system,” Marcos emphasized.

Aside from providing a better pension plan for the AFP and the PNP, the chief executive said that he is also coming up with a housing program not only for the AFP and the PNP but also for other uniformed personnel.

“We are also putting together a program for housing for uniformed services, the police and the AFP … I think we will be able to do it at kasama na rin, maybe we can tie it up with the pension,” the President said.

“There are many measures para hindi masyadong mabigat para dun sa sundalo at sa mga police,” he added.

Marcos recently signed Republic Act No. 11939, which laid out terms for service years of the military in a bid to address some of the concerns raised by younger military officers. PND

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