Palace issues order for P 1,000- hike in SSS pension

MANILA — Malacañang issued on Wednesday (Feb. 22) the formal order approving the P1,000 increase in the benefits of Social Security System pensioners, which President Duterte approved early last month.

The memorandum, signed by Executive Secretary Salvador Medialdea, was sent to SSS chair Amado Valdez.

“Upon representations made by SSS, and subject to existing laws, rules, and regulations, please be informed that the One Thousand Peso (P1,000) increase in benefits of qualified SSS retirees, survivors, and permanently disabled pensioners effective January 2017, has been approved,” Medialdea’s memorandum stated.

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Mr. Duterte gave the go signal for the P1,000 pension hike last month amid misgivings from his economic managers, who were concerned about the viability of the fund if the pension were to be increased.

Along with the pension increase, the President also approved a 1.5 percent contribution hike effective May 2017