House panel OKs P2,000 SSS pension hike

A panel of the House of Representatives yesterday approved a measure granting an increase of P2,000 in the Social Security System (SSS) monthly pension of the elderly.

The committee on government enterprises and privatization approved Bayan Muna party-list Rep. Carlos Zarate’s motion for the omnibus approval of the 15 pending measures calling for an increase in the SSS monthly pension.

Zarate, one of the authors of the re-filed SSS pension hike bill, is hoping the measure will also be approved with urgency by their counterparts in the Senate, as he expects a swift approval at the House plenary soon.

“We hope that the Senate version would also be expedited so that President Duterte can sign this long- awaited measure before the year ends,” he added.

House Deputy Speaker Raneo Abu commended his colleagues for the bill’s swift approval.

“This is a very worthy proposal that would show Congress’ sincere desire to serve the people’s interest. It is feasible, necessary and urgent. The current pension benefit was not adjusted enough to meet the current cost of living standards,” he said.

“This is a major step towards sharing the inclusive growth to the elderly. I hope the Senate will also expedite the passage of the measure aimed at easing the plight of our SSS pensioners,” he added.

Parañaque Rep. Gus Tambunting also lauded the latest development, saying “SSS should give the amount to our pensioners who deserve a little more in their twilight years” and “should also improve the collection and dispose of idle assets to ensure a healthy balance sheet.”

But SSS vice president Gregory Ongkeko warned lawmakers during yesterday’s committee deliberations that increasing the pension by P2,000 would shrink the fund of the government financing institution from year 2042 to 2025.