March 4, 2017
JV EJERCITO LAUDS SWIFT ACTION ON SSS PENSION INCREASE
Senator JV Ejercito lauded the Duterte administration's swift action in releasing the one thousand pesos additional SSS pension, which retirees started to withdraw from their accounts yesterday (March 3).
"I am happy for our retirees because this additional pension can sustain their needs such as maintenance medicine and food. This is one of President Duterte's campaign promises, and I laud its quick release today which shows his empathy at work," Ejercito said.
He said the next logical step is to look for ways to prevent increasing the contribution of members and find ways to finance the needed fund - a crucial task for SSS.
"I am not only referring to their proposal for government subsidies but also imposing stiffer penalty for employers who failed to remit the contribution of employees and developing a profitable investment plan," he added.
Senator Ejercito also recommends the review of the corporation's benefits and expenditures for possible source of funding.
"SSS needs the contributions of its members to sustain its fund life. However, as a state-run social insurance corporation, it needs to adopt ways and adjust to the needs of its members who are the main reason for its existence," Ejercito explained.
Senator Ejercito re-filed in the 17th Congress his version of the SSS Pension Increase (Senate Bill No. 150), which proposes to grant pensioners a minimum of P3,000.00 monthly pension and an annual increase of P500.00 until the minimum monthly pension reached P5,000.00.
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