Duterte finding win-win solution on SSS pension hike—Palace

Malacañang on Monday assured the public that President Rodrigo Duterte is finding a way to hike the pension of Social Security System (SSS) members while keeping the government-owned corporation afloat.

“The President is looking for a win-win solution where he can give pensioners the increase they have been asking for while ensuring that SSS will remain solvent at all times,” Communications Secretary Martin Andanar said in a statement.

Duterte earlier said that there is an “impasse” at the SSS as his economic advisers question the possibility of increasing pension by P2,000.

“As the President said, he does not want to use taxpayers’ money, especially money of non-SSS members, should a funding problem arises because of the increase,” Andanar said.

“He will again confer and meet with his economic managers to solve the impasse,” he added.

Militant party-list groups have been urging Duterte to sign the draft bill for the SSS pension hike, claiming there is no truth to the warnings of economic managers that the corporation will go bankrupt.

READ: Duterte urged to sign SSS pension hike

They claim that the increased pension will only shorten the fund life of the SSS, which can supposedly be addressed by the government through other mechanisms.

However, economic managers said it would raise the SSS’ unfunded liabilities from P3.5 trillion to P5.9 trillion. CDG