Duterte administration to carefully study SSS pension hike proposals

  • The Finance Department said it will study the bills filed in Congress seeking to grant an across-the-board P2,000 increase in the monthly SSS pension of retirees
  • Finance Secretary Dominguez said he will study the possible effects of the proposed pension hike to the actuarial life of SSS
  • Senators Antonio Trillanes IV and Cynthia Villar filed separate bills aiming to increase the monthly SSS pension
  • The Bayan Muna partylist group also filed their own version of the bill at the House of Representatives

The administration of President Rodrigo Duterte will carefully study the proposals to raise the monthly Social Security System (SSS) pension.

Finance Secretary Carlos Dominguez said the Department of Finance would study the bills filed in both chambers of Congress aiming to grant retirees across-the-board increase of P2,000 in their monthly SSS pension.

Senators Antonio Trillanes IV and Cynthia Villa filed separate bills seeking to increase the monthly SSS pension last July 11, while the Bayan Muna party-list group re-filed its own version last July 1 at the House of Representatives.

Dominguez said there is a need to study the possible effects of the pension increase to the actuarial life of the stare-run pension fund.

“When we were campaigning we didn’t have all the numbers, it wasn’t published, it wasn’t available. I think just give us time to look at it, to address both the political side of it and the technical side — the actuarial issue plus the issue of collection,” Inquirer quoted Dominguez as saying.

When he was still campaigning for the presidency, Duterte vowed that if he wins in the elections, he would support moves to increase the SSS monthly pension.

Earlier this year, the 16th Congress passed a law granting P2,000 across-the-board increase in the monthly SSS pension of retirees, but it was vetoed by then President Benigno Aquino III; saying it would bankrupt the state pension fund.

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