The chairman of the Social Security System (SSC) on Wednesday strongly defended the supposed correctness of the increase in monthly premium of the pension fund’s members and the lifting of the monthly salary credit (MSC), saying it will finance the P1,000 hike in the monthly benefits of more than 2 million pensioners while maintaining the lifespan of the SSS until 2040.

Dean Amado Valdez said the premium increase would be 1.5 percent and the maximum MSC is P20,000 from the P16,000 at present.

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