President Rodrigo Duterte approves the P1,000 Social Security System (SSS) pension increase for the retired Social Security System members.
Presidential Spokesperson Ernesto Abella said on Tuesday that the approved SSS pension increase will take effect either January or February 2017.
“The President has approve a P1,000 pension hike this month with a corresponding 1.5% contribution contribution rate hike in May 2017 and an increase in monthly salary credit to P20,000 from P16,000,” Abella announced.
“He seeks to fulfill a social contract with the Filipino people, especially the elderly and the poor who gave the best years of their lives in service; while exercising fiscal responsibility to ensure the economic sustainability and protect the gains made by those who have prudently invested in the nation’s future,” he added.
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Meanwhile, SSS Chairman Amado Valdez also said that they might comply with the additional P1,000 pension by 2019 to complete the supposed P2,000 increase.
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