ROSALES, Pangasinan—President Benigno Aquino III on Friday said there was no need to increase private employees’ premium payments to the Social Security System, saying its funds were safe.
“So far, there have been no reports that SSS funds are in danger of being depleted,” Mr. Aquino said.
But he acknowledged the pension fund had been criticized for making supposedly bad investments.
“What is important is we keep the healthy position of the SSS,” he said.
SSS president Emilio de Quiros Jr. on Tuesday announced a plan to increase private employees’ required contributions to 11 percent of their monthly salary from 10.4 percent.
He said that would add seven years to the pension fund’s life and provide more benefits to its members.
Without the increase, the benefit payments to members would put a strain on the fund and shorten its actuarial life, which was expected to last until 2039 based on a projection made in 2007, De Quiros said.
He said the increased membership dues would allow the fund to give pensioners a one-time 500-peso grant, a 10-percent across-the-board increase in pensions, and higher computed benefits.
The SSS has more than 29 million members. Joyce Pangco Pañares, Manila Standard Today
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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