MANILA, Philippines — The House ad hoc committee on the military and uniformed personnel (MUP) pension system has decided to retain the current pension scheme but set a cap on salary increases.
Albay 2nd District Rep. Joey Salceda, who chairs the ad hoc panel, said that the pension system will be retained with the condition that salary increases of MUP personnel will be capped at an annual increase of 5 percent for 10years.
The pension system was retained following requests from the military and uniformed services to consider the unique risks in their profession.
“Our resolution is to simplify the reform. The heart of the problem is indexation to very rapidly growing salar…
Keep on reading: Military pension scheme stays but House ad hoc panel puts cap on salary hike