Dominguez seeks resolution on MUP pension issue

The Department of Finance (DoF) hopes to resolve the problematic military and uniformed personnel (MUP) retirement and pension system before the present administration's term ends.

When asked if he sees a resolution before President Rodrigo Duterte's six-year term ends, Finance Secretary Carlos Dominguez 3rd told reporters, "I hope so." He was asked for his opinion after the Development Budget Coordination Committee (DBCC) identified the MUP pension scheme as one of the country's fiscal risks. Other downside risks to the country's fiscal position, according to the interagency body's Fiscal Risks 2022 report, include: changes in revenue allocation and expenditure devolution to local governments; prohibition on certain expenditures in line with the conduct of the 2022 national elections; and inability to reform the current pension scheme for MUP.