The Negros Occidental Sangguniang Panlalawigan passed a resolution Wednesday expressing its support for the increase in the monthly retirement pension of millions of Social Security System members, stated in the proposed House Bill No. 4365, jointly authored by Bayan Muna Reps. Neri Javier Colmenares and Teddy Casino.
Section 12 of Republic Act 1161, as amended by Republic Act 8262, or the Social Security Law, states that SSS members with at least 10 credited years of service are provided a monthly pension of P1,200 while those with 20 credited years are given P2,400.
Board Member Raul Rivera, chairperson of the SP committee on Senior Citizens, who moved for the passage of the resolution, said HB 4365 calls for an increase of SSS retirees and pensioners to a minimum of P7,000.
In filing the HB 4365, Colmenares and Casiño, , said this would enable SSS retirees to “cope with the continuing escalation of the cost of living in the country.”
Under the bill, the SSS shall equitably adjust the monthly pensions of other entitled members or beneficiaries whose monthly pensions are higher than the minimum monthly pension to preserve the integrity of the pension program.
The monthly pension and its annual increment shall be applicable to all beneficiaries regardless of the effectivity of their retirement.*GPB