Gov't facing P9.6-trillion bill for military pension obligations
February 2, 2021 | 7:40 pm Font Size SENATE PRIB THE GOVERNMENT will need to set aside about P9.6 trillion to meet its obligations to retired military and uniformed personnel (MUP) if it does not reform their pension arrangements, a key senator said. Citing an ongoing study of the Government Service Insurance System (GSIS), Senator Panfilo M. Lacson said the proposed pension system will need P9.6 trillion as seed money. âThe study suggests that Congress needs to appropriate more than P800 billion annually, for 20 years, if no changes or reforms are made to the pension system,â...