Retired Social Security System members can now expect an additional of P1,000 monthly pension after the amount was approved Tuesday by President Rodrigo Duterte.
In a briefing at the Malacanang Palace Tuesday, Presidential spokesperson Ernesto Abella confirmed the pension hike.
“President Duterte has approved the P 1,000 hike this month,” Abella said, adding that the President wanted to “fulfill a social contract with the Filipino people.”
The approved pension hike came as calls for him to approve the earlier proposed P2,000 increase.
In light of the increased pension benefits for retired SSS members, Abella said contributions would be increased by 1.5 per cent starting May.
SSS chair Amado Valdez thanked the President for his “sense of caring for our pensioners.”
Valdez said the first P1,000 increase would take effect this January while the second P1,000 increase would be in 2022.