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SSS pensioners to get 5-month pay, +bonus
« on: January 18, 2017, 11:38:44 AM »
SSS pensioners to get 5-month pay, +bonus

IT’S an early Christmas for Social Security Systems (SSS) pensioners when they will get this month of November a five-month bonanza in differential pay over and above their usual Christmas bonuses.

The cash windfall comes from the 10 percent pension increase, which was announced by President Gloria Macapagal Arroyo earlier last week, a senior official said.

SSS Officer-in-Charge Horacio Templo said the 10% differential pay, which took effect on September 1, would be released by the middle of November together with the differential for the pensioners’ Christmas bonus.

“Pensioners who are covered by the pension increase would get by mid-November a five-month bonanza which represents the 10 percent pension differential from September to December, including their 13th month pension ,” Templo said.

By this development, SSS would disburse a total of P1.4 billion for the five-month differential of pensioners, Templo was earlier quoted by the national papers.

As of September 1, SSS has more than 1.1 million disability, death and retirement pensioners with pensions ranging from a minimum of P1,200 to a maximum of P14,970.

About 98 percent of them get their pensions through the banks while the remaining pensioners receive their checks through the mail.

Social Security Commission Chairman Thelmo Cunanan announced the pension adjustment during the 32nd Philippine Business Conference last week.

The last pension increase was in 2000, SSS records revealed.

Templo however said only pensioners who started to be officially considered pensioners until August 31 are covered by the benefit adjustment which was approved by President Gloria Macapagal Arroyo.

The rest of the pensioners would begin receiving the adjusted rate starting in January next year, SSS said.

“SSS is updating its records to integrate the 10-percent hike in the pensioners’ accounts beginning January next year,” Templo said. rachiu/PIA)

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