SOTTO PUSHES FOR SSS PENSION INCREASE ANEW

Senator Vicente C. Sotto III is now pushing for an increase in SSS monthly pension under President Rodrigo Duterte's administration by filing a bill to amend the Social Security Act of 1997, helping the pensioners to alleviate the burden of an increasing cost of living in the country.

Sotto pointed out that those who have less pension allowance should get more increase to help them buy essential needs and lower increase for those who have high pension to assure the survival of the SSS funds.

Last administration vetoed similar measure on the ground that the SSS would not have enough funds for its continuing implementation despite both houses of the Congress passed the bill.

Based on the newly filed Senate Bill No. 1068, the minimum monthly pension shall be two thousand pesos (P2,000.00) from previous P1,200.00 for at least ten credited years of service and maximum of three thousand pesos (P3,000) from previous P2,400.00 for those 20 credited years of service.

Sotto sees the urgency to pass the proposed measure for SSS pensioners because most of the minimum monthly pensioners are those who are in their senior years or ripe old age, needing more care, assistance, to sustain and survive on a daily basis.

Sotto cited in his bill that in 1997 the peso-dollar exchange rate was P29.47 to 1 US Dollar while today it is already P46.31 to 1 US Dollar; basic minimum wage in NCR was P180.00-185.00 in 1997 but now it is already P444.00 to P481.00; and the average annual expenditures per family in 1997 was P99,537.00 and today it is P193,000.00.

These increases may be moderate for now targeting to help the lowest bracket of pensioners. Sen. Sotto will propose across-the-board increases in the future as the SSS funds will allow.

Sotto added, "Real pension increases are better than big future increases that cannot be funded."

Under the constitution, Section 9, Article II "the State shall promote a just and dynamic social order that will ensure the prosperity and independence of nation and free the people from poverty through policies that provided adequate social services, promote full employment, a rising standard of living, and an improved quality of life for all."

Sotto said the State must endeavors to extend social security protection to workers and their beneficiaries through the establishment of the social security system.