SSS pensioners to get P1,000 hike in March

  • Page Views 2128
  • MALACAÑANG yesterday approved the grant of a P1,000 increase on the monthly pension of Social Security System retirees, survivors and permanently disabled pensioners.

    Executive Secretary Salvador Medialdea, on behalf of President Duterte, signed the memorandum circular on February 22 that was addressed to SSS chairman Amado Valdez and SSS president Emmanuel Dooc.

    Medialdea said the increase will be retroactive to January 2017.

    Dooc said the SSS will start giving pensioners the additional P1,000 for the months of January, February  and March on March 3, 10 and 17.

    “Starting April 2017, the additional P1,000 increase shall be incorporated in the regular pension,” he said.

    The approval comes a month after Malacañang and SSS officials announced that the President approved the P1,000 pension hike alongside an increase in contributions of SSS members to 12.5 percent starting in May, from the current 11 percent.

    The proposal was originally for a P2,000 pension hike which the economic managers opposed as it may bloat the liabilities of the pension fund and cut the agency’s actuarial life if not accompanied by higher contributions.

    The economic team of the President had warned against the hike as it may reduce the fund’s life by 10 years.   (JOCELYN MONTEMAYOR, Malaya)

    Share

    New Posts Recently publish post More

    • Nathan Longchallon
      18 September 2020
      1 hour ago No comment

      Missing Man in Burnaby: Nathan Longchallon, 26

      The Burnaby RCMP is requesting the public’s assistance in locating 26-year-old Nathan Longchallon. Nathan was last seen walking north bound on Patterson Avenue near Victory Street in Burnaby at 3:30 p.m. on Tuesday, September 8, 2020. Nathan is described as 5 feet 8 inches tall, with a slender build, ...

    • 17 September 2020
      1 day ago No comment

      B.C. election looms, while chance of federal election lessens

      B.C.’s next provincial election is scheduled to happen on October 16, 2021. But it could take place earlier if the B.C. NDP government of Premier John Horgan decides to call an election earlier. Or if the Horgan government loses the confidence of the legislative assembly. By many indications, Horgan ...

    • 17 September 2020
      1 day ago No comment

      Dr. Theresa Tam’s update on COVID-19 

      Ottawa, ON – Public Health Agency of Canada In lieu of an in-person update to the media, Dr. Theresa Tam, Canada’s Chief Public Health Officer, issued the following statement: “There have been 138,803 cases of COVID-19 in Canada, including 9,188 deaths. 88% of people have now recovered. Labs across ...

    • 17 September 2020
      1 day ago No comment

      Prime Minister announces next steps for Safe Restart Agreement

      As we move into the fall and the world continues to deal with the impacts of COVID-19, the Government of Canada remains focused on keeping Canadians safe and healthy, while continuing to ensure they have the supports needed during this global health and economic crisis. The Prime Minister, Justin ...

    • 17 September 2020
      1 day ago No comment

      Amal Clooney urges PH to protect press freedom, honor international commitments

      International human rights lawyer Amal Alamuddin-Clooney on Tuesday urged the Philippine government to protect the free press and honor its international commitments on human rights. Speaking before Philippine business leaders in an online forum, Clooney said, “if you want to have a functioning democracy, protect the press. To protect ...

    %d bloggers like this: