OPINION | Ten things about the military and uniformed personnel pension system By Bienvenido S. Oplas, Jr. READ:
BusinessWorld
Ms. Ylagan wrote, “A retired General can get lifetime pension of up to P190,975.88 per month, computed on 85% of highest base pay plus longevity pay for the maximum number of years served. ” 8. The Development Budget Coordination Committee of previous and current administrations rang the bell on MUP pension. The DBCC — a.k.a. the “economic team” composed of the heads of the Department of Finance , the Department of Budget and Management , the National Economic and Development Authority , and the Bangko Sentral ng Pilipinas — of both of the Duterte and Marcos Jr. administrations raised the alarm bells on this huge fiscal burden.
Again, I say “amen” to this reform. I admired and praised former President FVR’s handling of the economy — see this column’s piece, “The Post-SONA Economic Brieng; FVR’s economy” — but such admiration is now diminished. But if he was alive today, I think he would be among the reformers who would call for the scrapping of this egregious scheme.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ten years after - BusinessWorld OnlineIt was 10 years ago (to be exact, on Dec. 20, 2012) that the late President Benigno S. Aquino III signed into law the Sin Tax Reform. On the first day of 2013, the government implemented the law unfailingly. This law restructured the excise taxes and dramatically increased the tax rates for tobacco and alcohol. […]
Read more »
Legato to further drive healthcare transformation as it transitions to Carelon - BusinessWorld OnlineHealthcare management services and solutions company Legato Health Technologies announced today its rebrand to Carelon Global Solutions, a new health services brand focused on solving healthcare’s most complex problems. In this transition, Carelon Global Solutions promises bigger and better things to come for its stakeholders and employees. The rebranding is aligned with the company’s objectives […]
Read more »
DA resumes search for onion production sites in Davao - BusinessWorld OnlineTHE Department of Agriculture’s (DA) Davao regional office is resuming the search for potential onion production areas following the recent spike in prices of the root crop, which is hardly grown in the southern Philippines. DA Davao Regional Director Abel James I. Monteagudo said a directive to explore possible onion farming sites nationwide dates back […]
Read more »
Rates of Treasury bills, bonds may decline on tightening bets - BusinessWorld OnlineRATES of government securities on offer this week could track secondary market yields’ broad decline ahead of the US central bank’s policy review and dovish hints from the Bangko Sentral ng Pilipinas (BSP) chief. The Bureau of the Treasury (BTr) will auction off P15 billion in Treasury bills (T-bills) on Monday, made up of P5 […]
Read more »
Cemex shares surge after P2.1-B tender offer plan - BusinessWorld OnlineINVESTORS loaded up on shares in Cemex Holdings, Philippines, Inc. after its parent company announced an offer to acquire more shares in the local unit to solidify its stake. Data from the Philippine Stock Exchange (PSE) show trading of the cement manufacturer’s shares reached 421.70 million worth P473.93 million from Jan. 23 to 27. The […]
Read more »
Philippines to offer VAT refund to foreign tourists by 2024 - BusinessWorld OnlineMANILA — Philippines President Ferdinand Marcos has approved a value-added tax refund programme for foreign tourists by 2024 to attract more visitors, the Presidential Communications Office (PCO) said on Sunday. The government collects a 12% VAT on goods consumed within the Southeast Asian country. The plan is to allow foreigners to get a VAT refund […]
Read more »