MANILA—A Senator on Wednesday lauded the formal order issued by Malacañang approving the PHP1,000 increase in benefits of Social Security System (SSS) pensioners.
SSS said that some PHP7 billion worth of pension will be released to about 2.2 million pensioners starting the first week of March after Pres. Rodrigo Duterte signed and confirmed the additional benefit last January 10.
SSS President and Chief Executive Officer Emmanuel Dooc assured pensioners that they will receive the increase starting March 3.
“I welcome Pres. Duterte’s go signal to release the additional PHP1,000 in the pension of pensioners retroactive from January 2017,” Sen. Cynthia Villar said in a statement.
As previously announced, another PHP1,000 hike will be implemented by 2022.
Last year, the Senate has approved the bill granting SSS pensioners a PHP2,000 increase in their monthly pension in two trenches.
“This shows that the Duterte administration and Congress are united in giving back what is due to the elderly” she added.
“Given the rising cost of food, services and medicine, there is no doubt that the cost of living being faced by pensioners has enormously grown. An increase in the monthly pension is necessary in order to help provide for the well-being of the country’s retirees,” she added.
Villar urged SSS officials anew to improve their collection efficiency, consider government subsidy, and to implement a sound investment program in order to improve the benefits of SSS members.