MANILA (UPDATE) - The P1,000 pension increase for some two million retirees of the Social Security System (SSS) is set to be released after receiving approval from Malacañang, SSS Chairman Amado Valdez said Wednesday.
Half of the two-part P2,000 adjustment was supposed to be implemented on Feb. 15, but the release order awaited approval from Executive Secretary Salvador Medialdea.
The pension increase will be retroactive from January this year, said SSS president and chief executive officer Emmanuel Dooc.
The January differential of P1,000 will be released on March 3, while the February and March differentials will be released on March 10 and March 17, respectively, Dooc said.
Starting April 2017, the additional P1,000 will be incorporated in the regular pension, he added.
The pension increase was among President Rodrigo Duterte’s promises during the 2016 presidential campaign. -- Reports from Alvin Elchico and Willard Cheng, ABS-CBN News