Push Admin

Marcos admin allocates P150-B for military, uniformed personnel pension in 2024

Article (news)

Pia Gutierrez, ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Members of the various components of the Armed Forces of the Philippines and civilian security forces rehearse for the Civic and Military parade in front of the National Museum in Manila, Monday as part of the preparations for the upcoming inauguration of President-elect Ferdinand Marcos Jr. on June 30. Jonathan Cellona, ABS-CBN News" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2023/news/02/12/20220627-marcos-inauguration-rehearsal-jc-24.jpg"/><figcaption>Members of the various components of the Armed Forces of the Philippines and civilian security forces rehearse for the Civic and Military parade in front of the National Museum in Manila, Monday as part of the preparations for the upcoming inauguration of President-elect Ferdinand Marcos Jr. on June 30. <em>Jonathan Cellona, ABS-CBN News</em></figcaption></figure></div><p>MANILA — Around P150 billion has been allocated for the pension of military and uniformed personnel for the proposed 2024 budget, despite a government push to institute sweeping reforms in their pension system, Budget Secretary Amenah Pangandaman said Thursday.</p><p>Pangandaman said this is because of the lack of legislation and an administration&#x27;s version of the proposed reforms under the Military and Uniformed Personnel (MUP) pension system.</p><p>&quot;Kakatapos lang iyong consultation ng economic team around the country and I know that GSIS is working on an actuarial, matatapos din po nila iyong study within the month or the next two weeks,&quot; said Pangandaman in a Palace briefing. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/news/05/20/23/marcos-mup-pension-fund-could-be-depleted-in-5-6-years">Marcos: MUP pension fund depleted in 5-6 years if it doesn&#x27;t ‘become self-sustaining’</a></li></ul><p>&quot;By then, we will have the admin version of the MUP. So since wala pa po, same pa rin po iyong budget na—we still provided the fund for the MUP which is almost 150 billion pesos,” she added.</p><p>Finance Secretary Benjamin Diokno earlier warned of a “fiscal collapse” if government does not institute reforms soon, as MUP pensions are fully funded through taxpayers money.</p><p>Pangandaman said she expects pressure to be eased from the national budget once the proposed pension reform bill is passed into law, expected to be passed before the end of 2023.</p><p>“Iyong consultation natin, I think they agreed naman to contribute doon sa pension system, so mababawasan po iyong pressure from our national budget,” she said.</p><p>In the initial proposal, the MUP pension system reform would include the removal of automatic indexation in the pension, and the implementation of mandatory contribution for military personnel.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/news/07/19/23/pnp-says-ready-for-proposed-mup-pension-system-reforms">PNP says will not be affected by proposed MUP pension system reforms</a></li></ul><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2746835" width="100%"></iframe></figure><div class="iwantbar">Video from PTV</div>

Around P150 billion has been allocated for the pension of military and uniformed personnel for 2024, despite a government push to institute sweeping reforms in their pension system, Budget Secretary Amenah Pangandaman said.

Marcos admin allocates P150-B for military, uniformed personnel pension in 2024

News

Entertainment

Lifestyle

Sports

Metro.Style

More

Sudoku

Word of the Day

Lotto

Horoscope

News

Marcos admin allocates P150-B for military, uniformed personnel pension in 2024

Pia Gutierrez,

ABS-CBN News

Published August 03, 2023 04:48 PM PHT

|

Updated August 03, 2023 05:06 PM PHT

Read More:

MUP reform

Military and Uniformed Personnel (MUP) pension system

DBM

NEP

2024 budget

ABS-CBN is the leading media and entertainment company in the Philippines, offering quality content across TV, radio, digital, and film. Committed to public service and promoting Filipino values, ABS-CBN continues to inspire and connect audiences worldwide.

Corporate

Investors

Governance

International Distribution

Corporate

Governance

Investors

International Distribution

NPC Seal of Registration

Privacy Policy

AI Policy

Terms of Service

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.