SSS: Staggered pension hike may roll out January

ABS-CBN News

Posted at Nov 17 2016 10:29 AM | Updated as of Nov 17 2016 10:31 AM

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The Social Security System (SSS) on Thursday expressed confidence that its pensioners may start receiving a staggered P2,000 pension increase by January.

SSS Chairman Amado Valdez said lawmakers are amenable to a proposal to grant pensioners an initial P1,000 increase by January 2017, and another P1,000 increase in 2020.

"Malapit na malapit na... Kasi maganda ang pakikipag-usap natin with Congress, very reasonable ang Congress," Valdez told radio DZMM.

Valdez earlier said the SSS is ready with a P1,000 increase, but they need to address pending problems on non-performing assets and collections before they can grant another P1,000.

He said they have to do this because the SSS has a fiduciary contract with its members to ensure the viability of the fund.

To support the pension hike, Valdez said the SSS will intensify the collection of loans and contributions, and seek assistance from Congress in investing on public-private partnerships.