Metro Manila (CNN Philippines, June 8) — Newly installed Defense Secretary Gilbert ‘Gibo’ Teodoro said he believes that soldiers will not seek retirement with the right approach in introducing reforms to the pension system of military and uniformed personnel (MUP).
“Kung mag-i-invest tayo sa skills upgrading, sa healthcare, hindi lang ng kasundaluhan pati pamilya, and other non-monetary opportunities, tingin ko maiiwan sila,” he said during a Palace briefing.
[Translation: If we invest in skills upgrading, in healthcare not only for our soldiers but also for their families, and other non-monetary opportunities, I think they will stay.]
In May, former defense officer-in-charge Carlito Galvez Jr. said that around 70% of enlisted personnel may retire as the Marcos administration is pushing to reform the current pension system.
Finance Secretary Benjamin Diokno also warned that if the existing pension scheme continues, the Philippines may witness “a fiscal collapse” as it is fully funded by the national government.
READ: Diokno pushing for military, uniformed personnel pension reform
Teodoro gave assurance there will be “transitioning” in the implementation of the proposed reforms.
“I think it’s a matter of explaining the necessity of introducing,” he said. “Galing din naman ako sa financial sector, hindi naman biglaang mangyayari ito. Mababawasan lamang ang pagdudugo ng ating gobyerno hanggang sa ma-self-sustain ang sistema na ito.”
[Translation: I also come from the financial sector, and this will not happen suddenly. The (financial) bleeding of our government will be reduced until this system is self-sustaining.]
