The House committee on government enterprises and privatization on approved the committee report on the SSS pension hike which provides for a P2,000 pension increase.
This means that the bill is headed for second reading approval at the plenary.
Valdez also proposed investing part of the SSS fund in public private partnerships (PPP) to extend the fund life and avoid depleting the state pension.
SSS Vice President Gregory Ongkeko earlier warned the committee that a P500 increase in pension could result in a 1.5 percent increase in contribution each year.
During the 16th Congress or before the end of his term, former President Benigno Aquino III vetoed the approved bill increasing the pension by P2,000 because the proposal would bankrupt the state pension fund.
Source: ( Marc Jayson Cayabyab - Reporter / @MJcayabyabINQINQUIRER.net / 03:57 PM November 15, 2016 )