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
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
September –
5 Sept – Intl Day of Charity
7 Sept – Intl Day of Clean Air for Blue Skies
8 Sept – International Literacy Day
12 Sept – United Nations Day for South-South Cooperation
15 Sept – International Day of Democracy
16 Sept – International Day for the Preservation of the Ozone Layer
17 Sept – World Patient Safety Day
18 Sept – International Equal Pay Day
21 Sept – International Day of Peace
26 Sept – International Day for the Total Elimination of Nuclear Weapons
27 Sept – World Tourism Day
28 Sept – International Day for Universal Access to Information
29 Sept – International Day of Awareness of Food Loss and Waste
30 Sept – World Maritime Day
Monthly Observances:
Health, Safety and Sanitation Month
National Clean-up Month
Civil Service Month
National Peace Consciousness Month
Social Security Month
Rule of Law Month
National Teachers’ Month (Sept 5-Oct 4)
Weekly Observances:
Sept 17 – 23:
World Clean and Green Week
Week 2: Education Week
Week 4: Medicine Week
Last Week: National Family Week
Daily Observances:
Third Saturday:
International Coastal Clean-up Day
Third Monday: World Health Day
Last Friday: National Maritime Day
Sept 8: National Literacy Day
Sept 15: Philippine Medicine Day
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