NATIONAL
Advocates Philippines
PBBM Eyes 'Self-Regenerating' Pension Plans For AFP, PNP Personnel
Photo credit: PCO
President Ferdinand R. Marcos Jr. is taking steps to establish self-regenerating pension plans for both the Armed Forces of the Philippines (AFP) and the Philippine National Police (PNP), as he aims to ensure a sustainable future for the country's military and police forces. During a press briefing held on Friday in Pagudpud, Ilocos Norte, President Marcos expressed his commitment to developing a pension system that can sustain itself without relying solely on government funds.
Acknowledging the potential depletion of pension funds within the next five to six years, President Marcos emphasized the need to proactively address the issue to prevent a fiscal collapse. By designing a more robust pension system, he aims to guarantee the financial security of retired military and police personnel.
In addition to enhancing the pension plan, President Marcos unveiled plans for a comprehensive housing program that would benefit not only AFP and PNP members but also other uniformed personnel. This initiative seeks to provide affordable and accessible housing options for those who have served the nation. President Marcos expressed optimism that these housing provisions could be integrated with the pension plan, further alleviating the burden on soldiers and police officers.
While prioritizing the welfare of the military and police, President Marcos stressed the importance of implementing measures that would not impose excessive financial burdens on these individuals. He emphasized the need to strike a balance between ensuring sustainable pension funds and easing the financial responsibilities of retired personnel.
Recently, President Marcos signed Republic Act No. 11939 into law, addressing concerns raised by younger military officers regarding their years of service. This move reflects his dedication to enhancing the overall conditions and benefits for the military and police, demonstrating his commitment to the welfare of those who protect the nation.
President Ferdinand R. Marcos Jr.'s initiatives to establish self-regenerating pension plans for the AFP and PNP, along with his focus on affordable housing options, highlight his administration's commitment to providing long-term security and support for the men and women in uniform. Through these measures, President Marcos aims to ensure a sustainable future for the country's military and police forces, safeguarding their well-being and recognizing their invaluable contributions to the nation.
Acknowledging the potential depletion of pension funds within the next five to six years, President Marcos emphasized the need to proactively address the issue to prevent a fiscal collapse. By designing a more robust pension system, he aims to guarantee the financial security of retired military and police personnel.
In addition to enhancing the pension plan, President Marcos unveiled plans for a comprehensive housing program that would benefit not only AFP and PNP members but also other uniformed personnel. This initiative seeks to provide affordable and accessible housing options for those who have served the nation. President Marcos expressed optimism that these housing provisions could be integrated with the pension plan, further alleviating the burden on soldiers and police officers.
While prioritizing the welfare of the military and police, President Marcos stressed the importance of implementing measures that would not impose excessive financial burdens on these individuals. He emphasized the need to strike a balance between ensuring sustainable pension funds and easing the financial responsibilities of retired personnel.
Recently, President Marcos signed Republic Act No. 11939 into law, addressing concerns raised by younger military officers regarding their years of service. This move reflects his dedication to enhancing the overall conditions and benefits for the military and police, demonstrating his commitment to the welfare of those who protect the nation.
President Ferdinand R. Marcos Jr.'s initiatives to establish self-regenerating pension plans for the AFP and PNP, along with his focus on affordable housing options, highlight his administration's commitment to providing long-term security and support for the men and women in uniform. Through these measures, President Marcos aims to ensure a sustainable future for the country's military and police forces, safeguarding their well-being and recognizing their invaluable contributions to the nation.
May 20, 2023
