Pensioners of the Social Security System (SSS) can now mark their calendars. Starting this March, they will start receiving the much-awaited Php1,000 increase in their pension.
President Rodrigo Duterte has given the go-signal for its release via a Memorandum Order from the Office of the President signed by Executive Secretary Salvador Medialdea. Read the full text of the directive here:
On their Facebook page, the SSS also posted that they are ready to release about P7 billion worth of pension to about 2.2 million pensioners starting first week of March.
SSS President and chief Executive Officer Emmanuel Dooc said the increase will be received by pensioners in three distinct payments at three different dates. These are on March 3 for the month of January pension, March 10 for February, and March 17 for March. Starting on April 2017, the benefit increase will be included in the regular pension payment.
All retirees, survivors and permanent disability pensioners will receive the P1,000 additional benefit. The number of pensioners that will receive the pension increase is expected to increase by 150,000 new retirees every year.
While lower than the Php2,000 originally proposed by legislators, it is still a very welcome news for senior citizens who have been complaining about the low pension amount, which they say are not even sufficient to pay for their maintenance medicines. The next Php1,000 pension increase is expected to be given by 2022 at the latest.