President Rodrigo Duterte is still studying the request of the Social Security System (SSS) to raise the monthly contribution starting April this year, presidential spokesperson Harry Roque said on Wednesday.
The pension agency had already submitted a letter to Duterte, urging him to issue an executive order that would raise the monthly contribution to 14 percent from the current 11 percent, according to Emmanuel F. Dooc, SSS president and chief executive officer.
Dooc said the higher contribution would allow SSS to to collect more or less P45 billion in additional contribution revenues from April to December this year.
READ: Duterte nod sought for planned SSS contribution rate hike to 14% in April
“Hanggang hindi nai-issue ang executive order ang Presidente, e pinag-iisipan pa rin at pinag-aaralan pa rin ng Presidente. Ang ebidensya na naniniwala ang Presidente na dapat mag-pataw ng mas mataas na premium sa SSS e kung siya ay mag-issue na ng executive order,” Roque told reporters in a phone interview.
“So sa ngayon, pinag-aaralan pa iyan dahil wala pa ‘yung hinihingi na executive order,” he added.
The request of the SSS for a monthly contribution increase came a year after Duterte approved a two-stage monthly pension hike of P2,000, of which P1,000 per month started to be disbursed to each pensioner last March 2017.
According to its latest data, SSS saw its net income plunge to P9.69 billion as of November 2017 mainly because of the pension increase. /atm