Photo Release

November 21, 2020

On pension of uniformed personnel: Senate President Pro-Tempore Ralph Recto, during the hybrid plenary deliberation on the proposed budget of the Department of National Defense (DND), proposes the establishment of an insurance fund for uniformed personnel of the military to cover their pension needs. Recto said he filed Senate Bill No.755 to cover the insurance needs of new entrants to the uniformed services of the government, noting that the current system of financing the pension requirements of military and uniformed personnel retirees is unsustainable, if not fiscally irresponsible. The senator explained that the Government Service Insurance System (GSIS) will set up a separate fund for the uniformed personnel and this shall not be comingled with the fund of the civilian personnel. “So may I suggest that the GSIS and the DND take a look at the bill seriously because I think most of the elements are in place. Maybe a few amendments, fine with me, but essentially all the elements are in place,” Recto said. (Screen grab/Senate PRIB)