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MANILA – The House of Representatives on Monday approved on third and final reading a joint congressional resolution seeking a P2,000 across-the-board increase in the monthly pension under the Social Security System (SSS).
In its first plenary session for the year, the chamber voted 233-0 to approve House Joint Resolution No. 10.
One legislator abstained from the voting.
The approval came a month after the House committee on government enterprises and privatization approved in November its report on 16 bills seeking the P2,000 across-the-board increase in the monthly pension under the SSS.
Also on Monday, the House voted 227-7-1 to approve on third and final reading House Bill No. 2158, which rationalizes and expands the powers and duties of the SSS.
The bill authorizes the SSS to “determine and fix from time to time, through rules and regulations, the minimum and maximum salary credits of member-employees, the schedule and the rate of contributions of employers and member-employees, the rate of penalty on due but unremitted contributions of employers and member-employees, and unpaid loan amortizations of member-employees, taking into consideration actuarial calculations, rate of benefits, inflation, and other relevant socio-economic data.”
The approval of the House resolution and bill related to SSS came a week after President Rodrigo Duterte approved a hike of P1,000 for the pension of some two million retired SSS members this month, with another P1,000 hike in the future.
The move comes along with an increase of 1.5 percent in premiums of active members by May, which will increase the contribution rate from 11 percent to 12.5 percent to be shared by employer and employee.
The maximum monthly salary credit will also increase to P20,000 from the current P16,000. (GMA News)
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