Here’s a wonderful news for all you SSS pensioners out there.
CNN Philippines recently reported that the Senate has approved House Bill 5842 which aims to give “an across-the-board increase of P2,000 monthly to 1.9 million pensioners of the Social Security System (SSS).”
The CNN report tells us that the senators “voted 15 in favor of the bill, with one negative vote cast by Senate Minority Leader Juan Ponce Enrile and no abstentions.” To his defense, Senator Enrile said he voted in the negative because he thinks the “generous benefit” would likely lead to the “bankruptcy of the SSS.”
This new bill will amend the Social Security Act of 1997. The latst amendment to the law was already 18 years ago under RA 8282.
Sen. Cynthia Villar, chair of the Committee on Government Corporations and Public Enterprise, is the bill’s principal sponsor.
“Given the rising cost of living, it is high time we give our retirees and their family a monthly pension that will allow them to at least live with dignity.
“We must also consider that many of our retired workers, given their old age, have maintenance medicines and special requirements that add to their daily living expenses. Increasing their pension is the least we could do to reward them for decades of hard work.”
Others who also sponsored the bill include Senate President Pro Tempore Ralph Recto, Deputy Minority Leader Vicente “Tito” Sotto III, and Sens. Teofisto “TG” Guingona III, Joseph Victor Ejercito, Ramon “Bong” Revilla Jr., Francis “Chiz’ Escudero, Jose “Jinggoy” Ejercito-Estrada, and Ferdinand “Bongbong” Marcos Jr.
Senator Recto, on the other hand, explained:
“The consolidated bill seeks an across-the-board increase of P2,000 on the monthly SSS pension. In effect, those receiving the minimum pension of P1,200 per month will now receive P3,200 under this bill. The average SSS pensioner gets about P3,169 a month. If this bill becomes law, his pension will increase to P5,169.”
Meanwhile, Senate President Franklin Drilon said this new bill will be “an early Christmas gift of the Senate to the SSS pensioners.”