By Diwa Guinigungo, includes “This monstrosity descended from the AFP-Retirement and Separation Benefits System (AFP-RSBS) during martial law. … AFP-RSBS failed to be a self-sustaining pension system. It was subsequently deactivated … Since then, with more pensioners and higher benefits, the annual allocation from the national budget has ballooned … Sourcing the funds for a non-contributory pension system from the budget means curtailment of other equally pressing demands of public welfare including those for food, medicine, infrastructure, and even digital transformation.”
Read the full article on: Business World (Philippines)