MORE than two-million pensioners of the Social Security System will receive P1,000 more in their monthly pensions starting this month, following the Senate approval of a resolution calling for the increase before Congress adjourned for the Christmas break.
“We manifest that it is the sense of the Senate to increase the monthly pension of all SSS pensioners by P1,000 effective immediately,” Senator Richard Gordon said in the resolution.
“This is the first tranche. Congress wants to give the second by 2019,” Gordon said.
He said he would call for a meeting with the SSS to discuss the second tranche.
“I know a P1,000 increase is not really much; I would prefer to give P6,000. But it would not do to force the SSS to give a higher increase which could shorten its life span,” Gordon said.
In January, he said they will meet with the SSS officials to discuss proposals on how they can increase their collection and income from, among other measures, the non-performing assets that they have and to encourage them to increase the collection efficiency and coverage ratio.
Gordon noted that a law was not really needed for the SSS to increase benefits received by the members, adding that the last time the pension fund increased monthly pensions was in 2014, when it implemented a P60 increase. There was no law enacted then.