Monday, January 18, 2016

Lawmakers should consider stability of Social Security System fund

Communications Secretary Herminio Coloma said lawmakers should consider the stability of the Social Security System (SSS) fund that will benefit its 31 million members.

Coloma was reacting to reports that some lawmakers are thinking of overriding the presidential veto on the proposed bill increasing the pension of retired SSS members.

President Benigno S. Aquino on January 12 vetoed House Bill No. 5842, which provides a P2,000 hike that would benefit 2.1 million pensioners and their dependents.

The President said that increasing the pension would shorten the life of the SSS, which at present has 31 million members.

Secretary Coloma said the pensioners could get additional support from other government agencies.

Reports said Bayan Muna Representative Neri Colmenares, who is running for senator in the coming elections, is calling on his fellow members in the Congress to stand by the bill they passed and override the presidential veto.

A veto override requires a two-thirds vote of both the Senate and the House of Representative.

Colmenares, who is planning to file the motion to override during the plenary session at the House of Representatives, claimed that the SSS will not go bankrupt if the P2,000 pension increase was approved. (PCOO News Release)

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