New pension system, bank for uniformed personnel eyed

December 22, 2018
Rodrigo R. Duterte

PRESIDENT Rodrigo Duterte has instructed the Department of Finance to come up with a pension system and a bank that will cater to the financial needs of the country’s uniformed personnel.

Duterte bared his plan in a speech before prison, police, and coast guard officers and members whom he hosted at a Christmas party in Malacañang on Thursday.

He said he wanted to leave a legacy that would boost the financial capability of the country’s uniformed personnel through the lease of government-owned lands.

Duterte said he envisioned a self-sustaining pension system for the police and military as well as its allied agencies with capital coming from rentals of military reservations.

He said he expected Finance Secretary Carlos Dominguez III to submit a blueprint for the plans in 2019.

“Let Christmas inspire you to perform your duties with selflessness and compassion for the greater good of our nation. I trust that the spirit of this season will guide you with the hope for a better society,” Duterte said.

“I wish you and your loved ones all the warmth, happiness and peace. Merry Christmas to you all,” he added.