MUP include the officers and enlisted personnel of the Armed Forces of the Philippines, Bureau of Jail Management and Penology, Bureau of Fire Protection, Philippine National Police, Philippine Public Safety College, Philippine Coast Guard and the Bureau of Corrections.
Over the last decade, the MUP pension system has been repeatedly identified as a fiscal risk, with pension payments growing at an average of 12.3 percent a year from 2010 to 2019, such that the military and uniformed services sector spent more on pension than capital outlays as well as maintenance and other operating expenses.
The corresponding expense on interest for such borrowings was pegged at P14.8 billion in 2025, P39.6 billion in 2030, P99.2 billion in 2035 and P171.3 billion in 2040.Extreme challenge Thus, the finance chief reiterated that reforming the MUP pension system was urgent to avoid a “fiscal collapse.”
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: gmanews - 🏆 11. / 68 Read more »