Villar confident Senate will approve bill increasing SSS pension by Php2,000

(Photo from Sen. Villar’s Official Website)

MANILA—Senator Cynthia Villar on Monday expressed optimism that the Senate will approve a bill granting the Php2,000 across-the-board increase in the pension of 1.9 million Social Security System (SSS) members.

Villar, chairperson of the Senate committee on government corporations and public enterprises, said among the priority legislations in the resumption of session is House Bill No. 5842, which seeks to amend Section 12 of Republic Act 1161 or the Social Security Act of 1997.

“We will have the votes. Majority of senators support this measure because we all believe that what our pensioners receive after working for 20 years or more, is definitely inadequate and not sufficient to cover the rising cost of living,” Villar said.

The bill is principally sponsored by Villar, and co-sponsored by Senate President Pro Tempore Ralph Recto, Senators Teofisto Guingona III, Francis Escudero, Ramon Revilla, Jr., and JV Ejercito. Same bills were also filed by Senators Ferdinand Marcos Jr., Jinggoy Estrada, and Antonio Trillanes IV.

Last June, the House of Representatives passed the bill on third reading.

The pension hike will benefit SSS pensioners who have worked and remitted premiums for 10 to 20 years.

The minimum pension is Php1,200 for members with at least ten credited years of service and Php2,400 for those with 20 credited years of service. As of April 2015, the average pension is Php3,169.

In sponsoring the committee report on the bill last August 26, Villar said, “It is a sad reality that majority of retired workers in our country rely solely on their monthly pension for their upkeep.”

”On a daily basis, it would barely cover for their sustenance. We must also consider that many of them, given their old age, may even have maintenance medicines and special requirements that add to their daily living expenses,” she added.

Villar was also quick to shoot down the proposal of SSS to increase members’ contribution from 11 percent to 15 percent to be able to fund the pension hike up to year 2042.

“SSS has billions of unremitted collections and uncollected premiums. They should at least improve their collection efforts first, before thinking of increasing members’ contribution—which seems to be the easiest thing to do for them,” she said.