00:00 House Ways and Means Committee Chair Joey Salcedo announced that he has accepted Defense
00:04 Secretary Gilberto Teodoro's proposal regarding the proposed reform of the military and uniformed
00:09 personal pension system in the country.
00:12 The ad hoc committee first passed the substitute bill regarding this last week, but Secretary
00:17 Teodoro opposed some parts of the bill.
00:19 According to Congressman Salcedo, since the discussion at the committee level is over,
00:24 they will just include the Secretary's suggestions when the proposal has been raised in plenary.
00:29 As head of ad hoc committee on MUP pension system, Salcedo assured Teodoro that all his
00:34 requests are acceptable and they will particularly adopt the proposal for the indexation and
00:40 transition contribution scheme.
00:42 Salcedo insisted that part of his job is developing a measure that is sufficient to the government's
00:47 budget, but he knows that it must also be accepted by all the stakeholders.
