DU30 raises SSS pen­sion; for­eign loan sharks warned

Manila Bulletin - - Views • Features - By FRED LOBO

MAK­ING true his cam­paign prom­ise, Pres­i­dent Duterte has ap­proved a 11,000 in­crease in the So­cial Se­cu­rity Sys­tem (SSS) monthly pen­sion ef­fec­tive im­me­di­ately.

Yes! To thy words be true so peo­ple would love you. ***

SSS Chair­man Amado Valdez said in a Mala­cañang brief­ing that the ini­tial 11,000 pen­sion hike will be re­leased this month and will be fol­lowed by an­other 11,000 hike in 2022 or even ear­lier.

Mala­cañang ap­proves the 12K to­tal pen­sion hike to help old pen­sion­ers cope with the high cost of liv­ing – and dy­ing. ***

“The first 1 1,000 (will be re­leased) this Jan­uary. We pro­jected the next 11,000 in 2022 but if we are able to im­ple­ment and get fa­vor­able re­sults maybe it won’t take un­til 2022, maybe by 2019, we can al­ready com­ply with the next 11,000,” Valdez said.

Stag­gered in­crease would save SSS from stag­ger­ing fi­nan­cially. ***

SSS Pres­i­dent Em­manuel Dooc as­sured the public that SSS has enough funds to sup­port the pen­sion hike and the sur­vival of the agency.

Hello, SSS mem­bers. Rest and sleep well. ***

To en­sure the fi­nan­cial sta­bil­ity of the SSS, the Pres­i­dent and the Cabi­net agreed to ar­rest and pros­e­cute delin­quent em­ploy­ers vi­o­lat­ing SSS pre­mium pay­ments.

And no more ex­ces­sive bonuses to SSS of­fi­cials, they said. ***

“File charges and ar­rest them,” the Pres­i­dent or­dered, re­fer­ring to delin­quent em­ploy­ers af­ter learn­ing that only 40 per­cent of the 33 mil­lion SSS mem­bers are pay­ing their pre­mi­ums.

Stop “ex­ces­sive al­lowances and hon­o­rar­ium given to top SSS of­fi­cials,” DU30 added. ***

“I made the com­mit­ment dur­ing the cam­paign and af­ter the elec­tions that I will give the age­ing SSS mem­bers ad­di­tional pen­sion for them to buy their medicines in their old age,” Duterte ex­plained dur­ing the long and in­tense Cabi­net dis­cus­sion with eco­nomic man­agers.

And so it’s a “win-win” so­lu­tion, says Pres­i­den­tial Com­mu­ni­ca­tions Sec­re­tary Martin An­da­nar. ***

Agri­cul­ture Sec­re­tary Em­manuel Piñol said Pres­i­dent Duterte has or­dered the ar­rest and de­por­ta­tion of for­eign­ers in­volved in du­bi­ous money-lend­ing schemes.

“That is al­ready too much. They lend you money with a “5-6” in­ter­est and sell ap­pli­ances at a high price. The poor can never sur­vive that kind of scheme,” Piñol quoted the Pres­i­dent as say­ing. ***

Duterte has di­rected For­eign Af­fairs Sec­re­tary Per­fecto Yasay Jr. to in­form the In­dian Am­bas­sador in the Philip­pines about his de­ci­sion “to stop such usu­ri­ous lend­ing scheme in the Philip­pines,” of Pun­jabis be­cause “they are vi­o­lat­ing Philip­pine laws by in­dulging in a money-mak­ing busi­ness with­out the nec­es­sary per­mits.”

Time for more soft loans to save bor­row­ers from hard­ships, as DU30 pre­scribed.

Newspapers in English

Newspapers from Philippines

© PressReader. All rights reserved.