P1,000 increase in SSS pension to begin in January 2017

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A P1,000-increase in Social Security System (SSS) pensions will be implemented starting January next year, SSS Commission chairman Amado Valdez on Wednesday.

ABS-CBN reported that another P1,000 hike is set to be implemented by 2022 at the latest, Valdez said.

“Implementing the pension increase on a staggered basis will help cushion its financial impact on the SSS fund. It will also provide SSS some leeway to shore up its funds by enhancing its generation of revenues through improved collections and innovative investment activities as allowed by law,” Valdez said during a hearing with the House Committee on government enterprises and privatization on Nov. 15.

According to ABS-CBN, The Lower House approved its version at the committee level and will endorse it to the plenary before Christmas.

Watch the video below:

Source: ABS-CBN , MB
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P1,000 increase in SSS pension to begin in January 2017 P1,000 increase in SSS pension to begin in January 2017 Reviewed by Online tricks on 7:14:00 PM Rating: 5
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