Sen. Lacson’s Opening Statement at the Hearing:
The Chair welcomes everyone present in the joint public hearing of the Joint Committee to discuss several proposed measures that seek to rationalize and establish reforms in order to create a fair, sustainable and clear mechanism for the pensions of MUP and other related matters.
Distinguished colleagues who are present this morning, and guests convened today physically and virtually to find the need to address critical concerns which if not managed immediately would mean dire consequences in the financial welfare of our country. I speak of the ballooning pension requirements of our MUP which we fear may no longer be sustained by our scarce government resources in the coming years.
Certainly, it is high time we created a standalone special fund so that we may deter the inevitable fiscal disaster of draining the public coffers attributed to the bloating pension requirements of our uniformed retirees which up to this very moment completely rely on the national budget.