Senate panel OKs SSS pension hike

6

THE Senate Committee on Government Corporations and Public Enterprises approved the proposed P2,000 increase in the monthly pension of Social Security System (SSS) retirees Wednesday.

The committee chaired by Sen. Richard Gordon will now prepare a report that will be presented in plenary for deliberation next month.

A similar proposal was passed by both houses of congress in the previous administration but former President Benigno Aquino 3rd vetoed it saying it will bankrupt the SSS.

Gordon maintained a pension hike is doable and it is up to SSS officials who are receiving fat paychecks to find a way to make it happen.

“Some are receiving P5 million, P4 million, P4.5 million. They are earning but it is not reaching the people,” the senator said.

He added that it would not be easy for the SSS to implement a pension hike but the pension fund’s officials have to be innovative to make it happen.

Gordon said he will be sponsoring the SSS pension increase bill in November and have it passed by the chamber before the year ends.

Senator Cynthia Villar said the passage of the bill will be the Senate’s Christmas gift to the 1.9 million SSS pensioners.

“I commend the Committee on Government Corporations and Public Enterprises chaired by Sen. Richard Gordon for prioritizing the passage of this bill,” Villar said.

The senator said she expects no opposition to the passage of the bill in the Senate and the House of Representatives.

Villar at the same time urged George Ongkeko, Jr., the senior vice president and chief actuary of SSS, to improve their collection or ask for government subsidy in order to improve the benefits for 33 million SSS members.

“I expect the passage into law of this measure before the year ends. We all agree that the cost of living faced by pensioners has enormously grown and this increase is necessary in order to provide for the well-being of the country’s retirees,” she said.

Share.
loading...

6 Comments

  1. SSS should tap the OFW by requiring compulsory contribution which like others they could benefit from. Surely this will be more than enough to fill the deficiencies.

  2. One thing SSS can do is to encourage and give inventives to OFW people to contribute their monthly dues to SSS which they can anyway benefit presently, upon retirement and others. Better yet make it mandatory. With the number of OFWs, surely that will be more than enough.

  3. the 2000 increase is badly needed. the fact that we worked for it and naturally we deserve that amount . the sss fund will never short or run unless personel and the higher ups are not corrupt , imagine with the salary and bonuses they are receiving , fooling the people . they are the one dictating how much they will recieved and lots of consultant , it means those higher ups knows nothing how they will run the sss, imagine so many consultants maybe some of them are commiosioner nagongomisyon sa kanilang mga inapoint. regarding the computer glitz natakot mga yan kaya biglang dagdag para sa investigation malito ang mga taga coa taon nga naman bibilangin retired nasila di pa tapos. whre are your conscience, nakakatulog pa kayo pera lang yan ang isave ninyo ang kaluluwa ninyo kung kaya pa

  4. One or two of the things SSS chould implement in helping finance the 2000 pesos increase of the retiree is: First is to cut the bonuses and salary of those SSS officials which reached astronomical figures which is more than that of the President. Second is for government officials to stop making SSS as their milking cow for funds. This was prevalent during Estrada and Gloria Macapagal’s term. Third is to decrease the number of SSS personnel to bare minimum which unfortunately until now is still bloated considering that we are on electronic age already, unfortunately SSS plantilla is still based on the system of 1970’s. Just my 2 cent

  5. Those senior officer SSS leeches have been paying themselves millions in salaries , fringe benefits and bonuses out of the pension funds owned by the SSS members ….. they treat the SSS as if they own it ….. shameless officials…. threatening the SSS members that the funds will run out if the pensioner members are given the P2,000.00 increase …… pension funds are financed like a pyramiding/ponzi operation …… thru the years the base ( membership ) expands geometrically , while the top (pensioners ) expands arithmetically …. so, the fund will never run out as long as there are new members coming in .. of course on top of this growth, there is also an actuarial valuation of how much the fund is expected to yield … provided it is adjusted to compensate the geometrical growth of the fund which is X times higher than the actuarial yield….etc. etc. etc…….

  6. I hope congress checks the amount of wages paid to officers of the SSS? It also appears that there are many officers and they are not needed to run SSS. This SSS was pampered by the previous administration specially Mar Roxas that appointed the officers and was primary responsible for their multi million salaries and bonuses. Shame on you Mar Roxas . You deserve to lose. I did not vote for you.