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SOURCE: Press and Public Affairs Bureau

(Update) House panel approves P2,000 across-the-board increase in SSS monthly pension
07 September 2016 04:00:13 PM

This House works and fast.

The House committee on government enterprises and privatization has approved 16 bills all seeking to provide a P2,000 across-the-board increase in the monthly pension under the Social Security System with a corresponding adjustment of the minimum monthly pension.

The committee chaired by Rep. Jesus N. Sacdalan approved the bills which seek to amend Section 12 of Republic Act No. 1161, as amended, otherwise known as the "Social Security Act of 1997."

About two million current and future SSS pensioners and their families stand to benefit from the proposal.

The proposed amendment to Section 12 of RA 1161 provides that the minimum monthly pension shall be P3,200 for members with at least 10 credited years of service and P4,400 for those with 20 credited years of service.

At present, the law provides for a minimum monthly pension of P1,200 for members with at least 10 credited years of service and P2,400 for those with 20 credited years of service.

The committee members agreed to adopt the committee report of the 16th Congress, which consolidated various proposals on the P2,000 across-the-board SSS monthly pension to help fast-track enactment of the pension proposal this 17th Congress.

The House and the Senate approved the proposal during the 16th Congress but this was vetoed by former President Aquino.

Approved were House Bills: 18 by Rep. Rozzano Rufino Biazon; 71 by Rep. Alfredo Vargas; 208 by Rep. Micaela Violago; 405 by Rep. Rodrigo Abellanosa; 414 by Rep. Tobias Tiangco; 475 by Reps. Carlos Zarate, Antonio Tinio, Emmi de Jesus, Castro, Arlene Brosas, Ariel Casilao, and Sarah jane Elago; 481 by Rep. Mark Villar; 1323 by Rep. Johnny Pimentel; 1036 by Angelia Tan, M.D.; 1552 by Harlin Neil Abayon III; 1836 by Rep. Bernadette Herrera-Dy; 1853 by Rep. Mark Go; 1856 by Rep. Sol Aragones; 1947 by Rep. Vilma Santos-Recto; 2277 by Rep. Gus Tambunting; and 3120 by Rep. Salvio Fortuno.

Biazon said the pensioners’ cry for pension adjustment is not without basis as prices of basic commodities, medicines and their other basic needs have soared since the last time that they were given an increase in 1997.

Santos-Recto said to fund the pension raise, the bill empowers the Social Security Commission by bolstering its collection capabilities and improving its revenue generation.

Tan said the current pension system is insufficient to address the needs of SSS pensioners due to the inflationary cost of basic goods.