SSS pension delay solved by Friday: president

ABS-CBN News

Posted at Nov 03 2017 09:30 AM

MANILA - Social Security System pension holders who failed to receive their monthly dues earlier this week due to bank holidays will get their money on Friday, the fund's president said.

"The head office of the bank concerned failed to farm out the funds to the branches, but they assured us that today, all funds will be available," SSS president Emmanuel Dooc told ANC's Headstart.

Tuesday and Wednesday this week were non-working holidays to give the Catholic faithful time to remember their dead.

Dooc said he instructed SSS personnel to make sure that no such delay would happen this month, with non-working holidays declared for the Philippines' hosting of the ASEAN Summit on Nov. 13 to 15.

The SSS president said he would "pursue" increasing member contributions to help fund a P1,000 pension increase.

Dooc said "remedial measures" were necessary as the fund's life was reduced by 10 years or up to 2032, due to the pension increase.