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SOURCE: Press and Public Affairs Bureau

House approves on 3rd reading P2,000 across-the board hike in monthly SSS pension
Writer: Rowena B. Bundang, Media Relations Service-PRIB
19 June 2015 09:04:47 AM

The House of Representatives has approved on third and final reading a proposal mandating a P2,000 across-the-board increase in the monthly Social Security System (SSS) pension.

The approved House Bill 5842 seeks to amend Section 12 of Republic Act 1161, as amended by RA 8282, otherwise known as the "Social Security Act of 1997," so that the present minimum monthly pension of P1,200 shall be raised to P3,200 for retirees with at least 10 years of credited service.

Furthermore, the present monthly pension of P2,400, for those with 20 years of credited service, shall be raised to P4,400.

Rep. Neri J. Colmenares (Party-list, Bayan Muna), principal author of the measure, said the proposal aims to the make the SSS pension more responsive to the basic necessities of pensioners who are mostly senior citizens.

"A large number of SSS pensioners have further suffered difficulties owing to the continuing escalation of the cost of living in the country, which is due, in large part, to the downturn of the global economy. The amount that these retirees receive as their monthly pension pays much less," said Colmenares.

Colmenares, a Senior Deputy Minority Leader, said any increase in the SSS pension should not be matched by a hike in the SSS premiums because data on SSS investments, income and collectibles from delinquent employers show that the agency is capable of implementing a pension hike.

House Bill 5842 substituted House Bill 175, which seeks a P5,000 monthly pension for SSS members with 20 years of credited service. For those with lesser number of years of service, their monthly pension shall be equitably and proportionately adjusted to preserve the integrity and fairness of the pension program.

Co-authors of HB 5842 are Reps. Carlos Isagani T. Zarate (Party-list, Bayan Muna), Mark A. Villar (Lone District, Las Piñas City), Jesus N. Sacdalan (1st District, North Cotabato), Marlyn L. Primicias-Agabas (6th District, Pangasinan), Cresente C. Paez (Party-list, COOP NATCCO), Agapito H. Guanlao (Party-list, BUTIL), Edgardo R. Masongsong (Party-list, 1 CARE), Leah S. Paquiz (Party-list, ANG NARS) and Antonio L. Tinio (Party-list, ACT TEACHERS).