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
October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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