SSS backs amendments to Social Security Act

MANILA, Philippines - State-run Social Security System (SSS) is backing proposed amendments to the Social Security Law which it said would strengthen services provided by the pension fund.

Among the topics discussed during the Senate hearing are the adjustment of the monthly minimum pension of SSS members in line with House Bill 2158 that aims to rationalize the powers, duties and accountabilities of the Social Security Commission (SSC).

Committee chair Sen. Richard Gordon emphasized the need for SSS to find ways to ensure the fund’s viability to serve its current and future members, as its fund life was shortened by 10 years due to additional benefit payment of P1,000/month starting January this year.