PRESIDENT Benigno Aquino 3rd has approved a 10 percent hike in the public sector pension as endorsed by the Employees’ Compensation Commission (ECC).
The president, on September 11, 2015 signed Executive Order No. 188 that imposes the across-the-board hike for retired government workers.
The ECC previously recommended the increase in the light of insufficient pensions being received by pensioners.
The ECC has the power and the duty to upgrade benefits and grant new ones for permanent disability or death, subject to the approval of the President.
The Government Service Insurance System (GSIS), in a study, claimed that the State Insurance Fund (SIF), which it administers, can finance the increase in EC pension for the public sector without affecting the stability of the SIF and without requiring additional contributions from the national government.