SSS head hailed for backing hike in pensions
An activist lawmaker welcomed the plan of the new leadership of the Social Security System (SSS) to raise the pensions of its retirees on its own, even while Congress is still deliberating on proposals for a P2,000 across-the-board increase.
But Bayan Muna Rep. Carlos Isagani Zarate said Congress should still speed up the passage of the bill “to ensure that the full P2,000 pension hike will be given across the board to all SSS pensioners, without the imposition of a corresponding increase in the payment of SSS premium.”
“While this is a good development, we will continue to push for the immediate approval and enactment of the P2,000 SSS pension increase bill,” said Zarate, a member of the Makabayan bloc in the majority coalition in the House of Representatives.
Staggered grant
On Friday, newly appointed SSS chair Amado Valdez expressed support for proposed measures in the House and the Senate pursuing reforms in the pension system, including the P2,000 pension increase.
“We understand the need for higher SSS pensions. However, merely mandating an across-the-board pension increase without any mention of how exactly the system will sustain it over the long term may not suffice,” Valdez said.
He proposed a staggered grant of P500 in four consecutive years starting 2017 “until the P2,000 is provided by 2020.”
Yearly increase
Another option, he said, was to have the increase implemented yearly based on five age groups and with the first tranche going to the oldest pensioners.
Zarate, however, said an incremental grant of the pension hike would not be of much help to retirees.
On Nov.15, the House committee on government enterprises and privatization is set to approve its report on House Bill No. 475 or the P2,000 SSS pension hike increase.
“We hope that before the year ends President Duterte can sign it into law because SSS pensioners have long waited for their pension increase,” Zarate said.
