The Philippines’ push for military modernisation is being squeezed by a ballooning pension bill for its troops as fears mount over its ability to finance newer ships, aircraft and other defence assets. The Department of National Defence has proposed spending 142.95 billion pesos (US$2.3 billion) on military and uniformed personnel (MUP) pensions in 2027, out of a total proposed defence budget of 324.6 billion pesos. The planned pension budget is 7 per cent higher than the 133.91 billion pesos...