(Eagle News) — Malacañang has explained why President Benigno S. Aquino III has vetoed the bill which provides for a P2,000 increase in the monthly pension of Social Security System (SSS) members, saying that it was a move to ensure the stability of SSS until 2042.
House Bill No. 5852 is an act “mandating a P2,000 across-the-board increase in the monthly pension with a corresponding adjustment of the minimum monthly pension under the Social Security System, amending for the purpose Section 12 of Republic Act No. 1661, as amended, otherwise known as the Social Security Act of 1997”.
Communication Secretary Herminio Coloma, Jr. said the President’s decision was made with the 31 million members of the SSS in mind and not just the present 2.1 million pensioners who will stand to benefit with the increase.
Secretary Coloma said the government has a duty to ensure that the SSS is stable enough to pay the benefits of its entire membership.
“Mayroong 2.1 million miyembro na tumatanggap ng pensyon at kung ang bawat isa ay makatatanggap ng karagdagang pension na P2,000 a month times 13 months, ang halagang tinitingnan natin ay P56 billion a year. At ang magiging immediate na epekto nito, mauubos ang pondong nakalaan para sa lahat ng kasalukuyang 31 miyembro sa 2029 o 13 taon mula ngayon,” he said during a press briefing at the Palace.
“Bago ipinanukala ang dagdag pensyong ito, ang pondo ng SSS ay itinayang aabot hanggang 2042. So ang tanong: Makatuwiran bang mapariwara ang katatagan ng pondo ng SSS habang hindi isinaalang-alang ang kabutihan ng higit na nakararaming miyembro.”
Coloma also noted that the proposed pension hike would leave the SSS cash-strapped and the government wants to avoid such situation.
“Ang tugon ng isang responsableng pamahalaan ay ito: una, kailangan maging makatuwiran ang anumang pagdadagdag sa benepisyo; ikalawa, dapat isaalaang-alang ang katatagan ng pondo upang makamit ng lahat ng miyembro ang kanilang inaasahang pensyon kapag sila ay nagretiro,” he said.
“‘Yung sobrang laki ng epekto nito na hinihigitan pa ang kontribusyon at ang investment income at dahil dito ay iikli ang buhay ng pondo, na sa halip hanggang 2042 ay hanggang 2029 lamang,” he further said.
Coloma said the President’s veto should not be interpreted as being inconsiderate.
“Ang pangunahing layunin ng pamahalaan ay tiyakin ang katatagan ng pondo ng SSS para tugunan ang pangmatagalang pangangailangan ng lahat ng 31 milyong miyembro nito. Hindi magiging responsable ang pamahalaan kung hahayaang mapariwara o masira ang katatagan ng pondo. Ito na ang magiging sukdulan ng kawalan ng malasakit sa ating mga Boss, ang mamamayang Pilipino, kung hahayaan nating mangyari ito,” he explained.
While pensioners may be disheartened by President Aquino’s decision, Coloma assured that the SSS is studying its options on how to improve services to its members while taking into consideration the agency’s stability.
“Nananatiling bukas ang pamahalaan at patuloy na pinag-aaralan ng pangasiwaan ng SSS kung paano pa higit na mapapahusay ang serbisyo sa mga miyembro at kung ano pang mga benepisyo ang maaaring maibigay sa kanilang habang isinasaalang-alang ang katatagan o estabilidad ng pondo at ang tinatawag na actuarial life nito na hindi dapat mapariwara,” he said.
The Palace official said Congress can override the President’s veto by a two-thirds vote.
“Pinag-aaralan kung ano pang mga legal measures ang maaaring kuhanin hinggil dito. Patungkol naman sa overriding a veto, ayon sa batas, two-thirds vote ang kinakailangan,” Coloma said.
The President’s veto message was sent on Tuesday to Senate President Franklin Drilon and Speaker Feliciano Belmonte Jr.
“We cannot support the bill in its present form because of its dire financial consequences,” Aquino said of House Bill 5842, which was the proposed law mandating the across-the-board increase for monthly pensions. (with a report from PND)