Good News: President Duterte approves P1,000 SSS pension hike


Image from Mocha Uson's Blog
  • President Duterte approved the P1,000 SSS pension hike
  • The amount was half of the P2,000 SSS pension hike proposed by Congress
  • The President tasked the SSS to go after employers who do not remit their employees’ contributions

President Rodrigo Duterte fulfilled his campaign promise to increase the pension of retired members of Social Security System (SSS).

On Tuesday, January 10, Presidential Spokesperson Ernesto Ableela announced that President Duterte approved a P1,000-increase in SSS pension, half of the P2,000-pension hike proposed by Congress. The approval comes with a condition, though.

To be able to ensure the sustainability of the state pension fund, an increase of 1.5% to the contributions of active SSS members will be implemented beginning May this year. As mentioned in an ABS-CBN article dated January 10, 2017, President Duterte does not want to fund the pension increase from the taxpayers’ money; saying SSS should get it from members’ contributions and from investments.

President Duterte also tasked SSS to go after employers who do not remit the contributions of their employees.

SSS President Emmanuel Dooc admits that the SSS collections were weak, but did not give further details.  He added that measures are put in place to ensure contributions are remitted on time and in full.

Dooc said there will be a slight delay in giving out the P1,000-hike because SSS will have to recompute its finances. The increase will possibly be given next month, he said.

 

Source :

ABS-CBN, GMA Network, Rappler

This article has been viewed 873 times. Article originally posted: January 10, 2017, 11:38 am (UTC-0). Last update: January 10, 2017 at 11:38 am (UTC-0).

Facebook Comments