P1,000 increase in SSS pension to start in January 2017

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As indicated by SSS Commission chairman Amado Valdez on Wednesday, he said that P1,000 increase in Social Security System (SSS) pensions retirees starting January 2017.

The Senate committee on government corporations and public enterprises and the House of Representatives agreed on Monday to grant P1000 increase of SSS members.
“Implementing the pension increase on a staggered basis will help cushion its financial impact on the SSS fund. It will also provide SSS some leeway to shore up its funds by enhancing its generation of revenues through improved collections and innovative investment activities as allowed by law,” Valdez said.

According to Sen. Gordon, 
another P1,000 will grant by 2022.

"Payag kami na P1,000, and then in the year 2020 siguro, malalagyan baka earlier,” Gordon said during the second hearing of the Senate committee.

"[The proposed P1,000 hike] is what we can afford now. Reserves will be compromised [if we grant a P2,000 increase]. We do not want them to lose money,” Gordon added.
Also, the congress has approved its version on a committee level, and this will be introduced to the plenary in December.

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