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PIA Press Release
2007/09/07

SSS ups retirement pension, extends loan condonation program for SSS members

CAUAYAN CITY, Isabela (September 7) -- As part of its 50th anniversary gift to the Filipino workers, the Social Security System (SSS) declared a 10% increment in the pension of SSS retirees which take effect August, this year.

Melita D. Agonoy, acting Administrative Officer of the SSS Cauayan branch, said in an interview following President Gloria Macapagal-Arroyo's pronouncement, that members' pensions had increased twice in the last 12 months - 10% in September last year and another 10% this year.

Agonoy also revealed that the SSS is also extending its housing loan condonation program by another six months.

"All SSS members and retirees in 29 towns in our coverage will stand to benefit from the President's directives," she said alluding to the 10% pension increase and loan condonation announced by the President as social payback of government's fiscal reforms.

The condonation of penalties and restructuring of housing loans already benefited more than P6,000 SSS members in the country which President Arroyo also described as a forum of social payback.

Agonoy encouraged memberships expansion to include mandatory coverage of self-employed. (PIA-Isabela) [top]

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