Fast facts: Impact of the P 2,000 across-the-board pension increase

By: 8 years ago

P56 billion

Yearly amount required to fund the additional increase

(P2,000 x 13 months x 2.15 million pensioners)

P30B – 40B

Annual investment income of SSS

P16B – 26B

Yearly deficit the increase in pension will yield

11 years

Number of years it will take the fund to be depleted if the deficit is not filled

4.8%

Yearly increase in the contribution of active members to cover the deficit, one of the proposed measures*

*Other measures:

-The government will transfer funds from other programs to SSS or increase taxes for SSS

-SSS will sell its assets which would hamper the growth of the funds and decrease the services and benefits provided by SSS

Sources: SSS, gov.ph