Press Release
November 6, 2015


THE APPROVAL of Senate Bill No. 2888 on second reading brings a glimmer of hope for an estimated two million Social Service Security (SSS) pensioners who mostly rely on their monthly allowance for medications and daily necessities.

On Wednesday, the bill, filed by Sen. Teofisto "TG" Guingona III in August, hurdled second reading at the Senate, short of three months since its approval at the committee level. Under the proposed legislation, all SSS retirees will receive an across-the-board two thousand-peso (P2,000) increase in their monthly pension.

"The plight of our senior citizens is just as urgent and necessary as in other sectors of the society. In old age, their situation becomes more dire with each passing day, and this modest addition is definitely a huge leap in all the years they have simply been waiting," Guingona stated.

The last hike in pension, which amounted to 10 percent, was obtained by retired SSS members almost two decades ago. Since then, prices of commodities have rocketed but not the pensioners' source of subsistence.

Once approved, SSS retirees with 20 years of credited service will receive P4,400 every month from the current P2,400, while pensioners with 10 years of credited service will get P3,200 every month from the existing P1,200.

The third and final reading of the bill is expected on Monday, November 9. Guingona is optimistic about its passage into law before the year ends.

A similar bill has already been approved at the House of Representatives on third reading in June.

"This is the fruit of decades of their labor and it is just right that we give them what they have worked so hard for. Second reading approval is good news but I think they deserve better news; we're doing them a disservice if we don't act now." Guingona maintained.

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