Social Security System (SSS) announced yesterday that the additional P1,000 pension will be available today.
SSS President and Chief Executive Officer Emmanuel Dooc said that an amount of P2 billion was already released last January to fund the increase.
“We are pleased to announce to our pensioners that the P1,000 additional benefit is now ready for withdrawal in their respective bank accounts," Dooc added.
Many members previously complain when the implementation of pension hike for retired members was almost postponed.
“The SSS will continue to find ways to make our pension fund viable so it can continuously serve its current and future members in perpetuity,” he noted.
He also said that the remaining retroactive amount will be distributed on March 10 and 17.
However, contribution among members may increase by 12.5 percent monthly starting May this year.
Source: Bandera
Image: Pinoy Financial Literacy
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