MANILA, Philippines - The Social Security System (SSS) is implementing a 5 percent across-the-board pension increase for its 1.9 million pensioners starting this month.
All pensioners for retirement, death and disability as of May 31, 2014 can expect higher benefits.
However, SSS Vice President for Benefits Administration Agnes San Jose said the new across-the-board pension increase can only be paid out starting August 2014, which will include additional amounts for June and July. This is to allow the SSS to adjust its system.
The SSS provides pensions under the regular Social Security Program and the Employees' Compensation Program.
EC pensions, which are granted on top of regular SS pensions for members with work-related contingencies, are excluded from the 5-percent increase.