P1,000 additional monthly benefit for SSS pensioners to be released retroactively in March
President Rodrigo Duterte approved on Wednesday the P1,000 increase in benefits of 2.2 million pensioners of the Social Security System.
In a memorandum to Amado D. Valdez, SSS chairperson, Executive Secretary Salvador Medialdea said, "upon representations made by SSS, and subject to existing laws, rules and regulations, please be informed that the One Thousand Peso (P1,000) increase in benefits of qualified SSS retirees, survivors and permanently disabled pensioners effective Janaury 2017, has been approved."
SSS President and chief Executive Officer Emmanuel Dooc, in a statement, assured pensioners that they will receive the P1,000 benefit increase starting on March 3.
“The P1,000 benefit increase will be received by our pensioners in three distinct payments at three different dates for the months of January, February and March,” Dooc said during the Social Security Commission Board meeting.
The additional P1,000 pension increase for the months of January, February and March will be received by the pensioners on March 3, 10 and 17, respectively.
“Starting on April 2017, the benefit increase will be incorporated already in the regular pension,” Dooc said.
SSS said for regular benefits, it has been releasing P7.4 billion per month since January 2017.
On top of this, SSS has allotted about P6.9 billion for the release of the additional P1,000 benefit for the first quarter alone.
Total projected additional benefit expenditures for the first year of implementation of the pension hike is seen at P32 billion.
Almost 2.2 million SSS pensioners are expected to receive the initial additional benefit. The number of pensioners is expected to increase with about 150,000 new retirees every year. Celerina Monte/DMS
