Wazzup Pilipinas!
Last January 14, 2016, President Benigno Aquino III released a veto message in response to House Bill No. 5842 which proposed a Php2,000 across-the-board increase on the SSS pension. Around two million Filipino pensioners would have benefitted from the approval of this bill.
However, a Php 2,000 increase will cut the fund life of the SSS by 13 years, according to SSS officers Marissu Bugante and George Ongkeko Jr. This means that those who will be retiring after 2029 could have faced the risk of receiving no pension at all.
The highest monthly pension an employee can receive is around Php 13,000; the lowest being Php 1,200. The Php 2,000 hike will be beneficial to pensioners but even the highest monthly pension won’t serve as a sustainable retirement fund if you take into consideration the inflation rate in the country.
SSS pension serves as extended financial assistance. It is not meant to be a person’s entire retirement fund. As early as now, it is best for Filipinos to look for multiple streams to fund their retirement. Here are 3 income supplements to SSS pensions:



Ross is known as the Pambansang Blogger ng Pilipinas - An Information and Communication Technology (ICT) Professional by profession and a Social Media Evangelist by heart.