Press Releases

On the passage of the MUP Pension Reform Act

September 27th, 2023

I thank the economic managers and the MUP agencies for the support they extended in defending this measure. The MUP agencies are already very happy with this reform which also significantly improves our fiscal position. It also makes the fiscal risks of the MUP pension system very predictable.

We satisfied the three guarantees we gave in exchange for the sacrifice MUP were willing to make for the reform: Guaranteed salary increase, guaranteed pension increase, and guaranteed funding sources. As I said, this is a social compact, between MUP agencies, the taxpayers as represented by the economic team, and the people at large — brokered by Speaker Martin Romualdez at the President’s instruction.

In manifestations made to me by MUP retirees, active personnel, and agencies, they call this reform “a morale boost.”

The President also emphasized in the most recent LEDAC meeting that we need this reform.

Senator Jinggoy Estrada, my Senate counterpart, has filed a bill I largely agree with — and has publicly defended. So, I am optimistic that both Houses will have a version this time around.

I thank the President and Speaker Romualdez for the trust and confidence.

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