A bright light at the end of a tunnel, this is how I describe my emotions when I heard the news on the possibility of SSS pension increase this year.
See what happens when a president’s governing direction is geared towards the welfare of the less fortunate.
Is there hope?
A glimmer of hope turned wide for our dear pensioners.
A P2000 SSS pension increase might look like a piece of chunk for those who earn big time as compared for those who are receiving a minimum SSS pension amount.
A long winding battle from both houses of Senate and Congress had happened since June 2011 until it was approved in 2015. Unfortunately, it only took one signature from former President Aquino III to disregard the law before the end of the 16th congress.
After a long wait, the SSS pension hike bill will be signed into law this year as promised by both houses as a show of support to the visions of new President Duterte.
What’s stopping SSS board members?
I could not find the right judgment on whether to support the claim of SSS president De Quiros. The SSS board members were even questioned more when former president Benigno Aquino III signed an executive order that seeks to increase their salaries and benefits while claiming they cannot grant the SSS pension increase.
Well, the executive order just gave these SSS board members more burden to carry if they have a conscience!
I believe that it was not merely a campaign slogan for the 2016 Presidential election-winner Rodrigo Duterte because he is simply a pro-masses person.
The efforts also of former Congressman Neri Colmenares in defending the stand of the SSS pension hike was not put to waste because the House Bill 5842 was immediately re-filed by Bayan Muna congressman Carlo Zarate right after the new president’s inauguration last June 30.
It was really fast after all, observers are very optimistic about the new administration and the new set of legislative members.
But why should there not be SSS pension increase?
Actually, I am not totally convinced that the SSS pension hike is not possible after knowing from the horse’s mouth that the SSS collection rate is way below expectations.
SSS president Conrado De Quiros even stressed that the agency has a low rate in penalizing employers who were not remitting properly.
He even reasoned out that the best solution is to raise member contributions to increase SSS fund life. All is history now because the new hope by our over two million pensioners will be finally realized soon.
SSS pension hike shortens SSS fund life
The Social Security System (SSS) claims that its fund life could only extend until 2029 if the SSS pension increase will be implemented this year.
I suppose it could be true but isn’t it the best way to extend its life is to improve the poor services and low collection rate by the agency?
The best way to solve this I guess is to have a revamp within the state-run agency. After all, they already know the problems and addressing these will increase the surplus of the government agency.
Better still give back their wage increases to improve the financial standing of the agency.
I do not know if I can call it justification or warning when SSS President De Quiros advise to create a funding mechanics to address an upcoming financial problem when the SSS pension increase already takes place.
I may not know the end result when the SSS pension increase is already implemented or what are the results if solutions are in place.
But this I do know, you don’t have to be a genius to understand the benefits of what a P2000 SSS pension hike can do to help our old-aged pensioners. Give them a bit of comfort, they had worked for it and deserved it.
From my point of view, the non-approval of the P2000 SSS pension hike by former President Aquino III was an inhumane decision.
It is like you have been saving a portion of your wage while working when it’s time for you to withdraw the bank says no funds to support your withdrawal.
How would you feel?
Definitely, being robbed of your hard earned money.
The problems were clearly defined such as poor services and low collection rate which is within the agency’s control to solve. And they have lots of time to solve this up to 2029.
To think that they even got a wage increase for a JOB NOT WELL DONE.
Why pass the buck to the pensioners?
How about you?
What’s your take on this SSS pension increase issue? Share your thoughts in the comment section below.
Disclaimer: This article is only based from the writer’s personal opinion on the issue. We are entitled to our freedom of information and expression, but if for any reason, you find this blog offensive or doesn’t comply with any policies, please feel free to contact me. Thanks!