MANILA - A P1,000 increase in pension for roughly two million Social Security System (SSS) retirees will take effect as early as this week, the head of the state pension fund said Tuesday.
The adjustment, half of the planned P2,000, was originally scheduled for release last month. President Rodrigo Duterte’s economic team had objected to the increase, unless it is funded internally by the SSS and not subsidized by government.
Documents for the first P1,000 trance has been submitted to Malacanang, awaiting the signature of Executive Secretary Salvador Medialdea, SSS Chairman Amado Valdez told DZMM.
“One thing is for sure, siguradong sigurado ho naman yun (It’s a sure thing),” he said.
A pension increase was among Duterte’s promises during the 2016 presidential campaign.