Marcos: Multisectoral talks ongoing regarding pension system of uniformed personnel

President Ferdinand "Bongbong" Marcos Jr. said Wednesday that multisectoral discussions are ongoing regarding the pension system of the country's security forces.

In his speech during the 86th anniversary of the Government Service Insurance System, Marcos mentioned the participation of the state pensioner on this matter.

"I take this opportunity to enlist the active and continuing support of the GSIS regarding a special matter. The pension system of our military and uniform personnel is such a monumental task with all the legal and financial setbacks that it has encountered," Marcos said.

"Comprehensive multisectoral discussions are now ongoing, and I thank GSIS for your involvement and participation, because your experience and your acquired skills have been an important part of this ongoing process," he added.

Marcos said it is imperative that the government establish "the most appropriate and strategic mechanism to get the pension system functioning.

In a separate interview, Government Service Insurance System Jose Arnulfo "Wick" Veloso said during the present discussions on the military pension, the GSIS' role is only as the "fund manager."

"'Yun pong paginvest ng mga pondo na nakokolekta para sa maaaring pagbabago ng paano magkakaroon ng bagong pension ang ating mga military uniformed personnel, kami gagawa, kami maghahanap kung papaano mapapalago ang pera," Veloso said.

(The process of investing funds for the pension system of the military, we will do that, we will look for ways to grow the fund.)

"Sabi ko ho, sanay na ho 'yung ibang government o military agencies papaano ididisburse 'yun. Kailangan lang magmamanage. Gusto ho ba nilang ibigay rin sa amin 'yun o gusto ba nilang iretain 'yun at ibibigay na lang namin sa kanila 'yung kauukulan?" he added.

(Government and military agencies know how to disburse it. They need someone who will manage, do they want to give it to us or do they want to retain that role?)

Earlier, Marcos pronounced that he wants self-regenerating" pension plans for both the Armed Forces of the Philippines and the Philippine National Police.

Marcos wanted the AFP and the PNP to have a self-sustaining pension plan to avoid a scenario where the funds would be depleted.

Meanwhile, in a separate message, Marcos noted that the GSIS has provided quality service to its members and pensioners through the provision of much-needed social security benefits.

“Your pool of resources and enduring partnerships with stakeholders have made your institution a reliable safety net for many Filipinos, especially during times of great need,” Marcos said.

Marcos acknowledged the GSIS efforts in improving customer experience through synergy and digitalization, which, according to the President, are in line with the government’s measures in developing the bureaucracy.

“I believe that this is the way to move forward in the post-pandemic economy so that you can improve your members’ access to your services through various platforms, which in turn, will help them regain their strides into a brighter tomorrow,” Marcos said.

In a separate message, Finance Secretary Benjamin Diokno said the GSIS is a key contributor to the financial system through its fund placements.

“Today, the GSIS stands as one of the biggest financial institutions in the country with more than P1.5 trillion in assets,” Diokno said.

The GSIS on its anniversary launched new programs including an affordable housing initiative, a low-interest loan with flexible terms, and improved features in the GSIS Touch mobile app that includes facial recognition capabilities. —VAL, GMA Integrated News