The Social Security System has announced the 5 percent across-the-board pension increase for 1.9 million SSS pensioners, effective June 2014.
The SSS disclosed in a recent press statement, that all active pensioners for retirement, death and disability as of May 31, can expect higher benefits in their bank account or pension checks, a press release from the agency said.
To provide time for necessary system adjustments, SSS Vice President for Benefits Administration Agnes San Jose said the new across-the-board pension increase can only be paid out starting August 2014, and will include the additional amounts for June and July.
The state-run agency provides pensions under the regular Social Security Program and the Employees' Compensation Program.
EC pensions, which are granted on top of regular SS pensions for members with work-related contingencies, are excluded from the five-percent increase, San Jose noted.*
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