Wazzup Pilipinas!
Quoting the President’s veto message, Coloma said, ‘the President said “…the P2,000 across-the-board pension increase with a corresponding adjustment of the minimum monthly pension will result in substantial negative income for the SSS. More specifically, the proposed pension increase of P2,000.00 per retiree, multiplied by the present number of more than two million pensioners, will result in a total payout of P56 billion annually. Compared against annual investment income of P30 billion – P40 billion, such total payment for pensioners will yield a deficit of P16 billion – P26 billion annually…’” This is really simple mathematics.
On the other hand, some are saying that the SSS pension increase bill would have forced SSS to work at an acceptable standard, else face bankruptcy in 2029. So does this mean SSS would not exert extra effort to prevent itself from going bankrupt?
He would rather provide for the PDAF allocation of senators & congressmen and the president's own PDAF rather than help more than 2 million SSS pensioners! He would rather continue with the biggest criminal syndicate in the country - Congress - rather than help the SSS pensioners many of whom could no longer cope up with the current cost of living!
He is just proving that he and his economic managers have no brains and can not think of any plan/solution to ensure that SSS will not go bankrupt if the proposed additional pension of P2,000 for all SSS pensioners is implemented!
Shame on all of them!