Pres. Aquino Denied the P2k Increase in SSS Pensioner

Philippines – President Noy Aquino, denied the P 2,000 across- the- board Social Security System (SSS) pension hike yesterday January 14, 2015.

Report said that the reason of disapproval of President Aquino, is that the SSS funds and projected collections cannot afford the said SSS pension hike. Which there is a risk that SSS might be bankrupt 13 years from now if he will sign the house bill. And perhaps future pensioner 13 years from now will not have the privilege of having their own pensions which may affect more SSS pensioner.

Rather than sign the House Bill No.5842, President Aquino used his power to deny the House Bill No. 5842 proposal.

Presidential Communications Operations Office (ESG) Sec. Herminio "Sonny" Coloma Jr., explain that the President weighed the benefit of the 31 million members interests than two million pensioners now a state fund.

 For now, MalacaƱang's left the House and Senate if they will override the President decision? To become law the House Bill No.5842.

Bayan Muna Rep. Neri Colmenares, called on both congressmen and senators to unite to revoke the veto of President Aquino.

In an interview yesterday, former SSS president Corazon de la Paz, said that any measures of raising the pension must correspond to additional contributions from active members to not lame or distort the life of the SSS fund.