Top officials from the Department of Finance (DOF), the Bureau of the Treasury (BTr), and the Government Service Insurance System (GSIS), together with a representative from the Office of Senator Jinggoy Estrada, held a dialogue on June 7, 2023 at Camp Crame in Quezon City with the Philippine National Police (PNP) to discuss proposed reforms to the Military and Uniformed Personnel (MUP) pension system.

Finance Secretary Benjamin E. Diokno urged the franchise community to invest in the Filipino workforce during the Franchise Asia Philippines (FAPHL) 2023 Conference on June 7, 2023 at the SMX Convention Center in Pasay.

The economic team has made adjustments to improve the current proposals for the military and uniformed personnel (MUP) pension reform after its initial consultations with the Armed Forces of the Philippines (AFP), Philippine Air Force (PAF), and Presidential Security Group (PSG).

The economic team met with members of the Philippine Air Force (PAF) to discuss the proposed reforms to balance the creation of a fair military and uniformed personnel (MUP) pension system while preserving the country’s overall fiscal health during a dialogue held at the Colonel Jesus Villamor Air Base in Pasay City on May 26, 2023.

Congress approved on May 31, 2023 the Maharlika Investment Fund (MIF) Act of 2023. The House of Representatives adopted the Senate version of the bill. SB 2020 was passed on third reading with 19 affirmative votes, one negative vote, and one abstention.