Deal reached for funding reforms in MUP pension

SPEAKER Ferdinand Martin G. Romualdez announced last Wednesday that a consensus has been reached on how to fund the reforms needed for the military and uniformed personnel (MUP) pension and make the program more reliable and sustainable in the years to come.

“Our soldiers and uniformed personnel are now assured: their pension plans are now fully funded, not only in 2023 or 2024 but in years to come,” Romualdez said.

The lawmaker said a consensus was reached after a closed-door meeting among members of the government’s economic team and senior House leaders.

After the 3-hour meeting, Romualdez said they “all agreed on a solution that we, believe, will be beneficial to all stakeholders in the MUP pension program.”

The Speaker added that as an offshoot of the meeting, he instructed the formation of an ad hoc committee in the House of Representatives to thresh out other details of the reforms agreed upon by executive officials and House leaders.

The Ad Hoc Committee will be chaired by Rep. Jose Ma. Clemente “Joey” Salceda, chairman of the House Committee on Ways and Means. Salceda is credited for the win-win formula agreed upon during the closed-door meeting. Romualdez didn’t elaborate on the formula.

Joining as vice chairmen of the Ad Hoc Committee are the chairmen of the House Committees on Appropriation, on National Defense, and on Public Order and Security.

Romualdez said the Ad Hoc Committee will invite stakeholders in the MUP pension to join its public hearings and consultations to ensure that their concerns are heard and acted upon.

“Public hearings will clarify all issues regarding the MUP,” he said. “We will listen to all voices. We will ensure that with the new MUP pension program, pensioners will con-