Duterte heeds Recto’s old proposal for PNoy, OKs P1,000 SSS pension hike
President Rodrigo Duterte has approved a P1,000-increase in the monthly pension received by retired Social Security System (SSS) members, presidential spokesperson Ernesto Abella announced Tuesday (Jan. 10).
SSS chairman Amado Valdez said SSS pensioners will enjoy a bigger pension starting February.
The hike in monthly pension, however, will be made along with a 1.5-percent increase in members contributions, which will take effect in May.
Duterte earlier deferred the approval of the proposed P2,000 increase in the SSS’ monthly pension pending further study on the matter.
During the Aquino administration, now Senate Minority Leader Ralph Recto proposed increasing the monthly pension received by retired SSS members by just P1,000 instead of the P2,000 that Congress approved so its implementation will not be a burden to the state-run pension fund.
The SSS had opposed increasing the monthly pension by P2,000 even during the term of former President Benigno Aquino III, saying a hike would result in the fund life reaching zero by 2029.
Recto, however, said SSS’ income should be enough to shoulder the implementation of a P1,000 increase in pension.
A hike in the SSS pension had been promised by Duterte during the campaign season for the May 2016 polls.