MANILA - The government is looking for a permanent funding source for the military and police forces' pension, Budget Secretary Benjamin Diokno said Friday.
The basic pay of soldiers and police officers were increased starting this year, as President Rodrigo Duterte delivered on one of his campaign promises.
Diokno said a pension fund should cover retiree benefits, and should not be sourced from the national budget.
“If we can come up with a permanent solution na mag-cocontribute na ngayon ang bawat sundalo. Pilay eh, walang nag-cocontribute pero nagbabayad tayo,” Diokno told DZMM.
(If we can come up with a permanent solution that every soldier will contribute. Right now, it's crippled. No one is contributing for the payouts.)
Diokno hopes that a new pension system for the uniformed service will be approved by Congress in 2019.