Republic of the Philippines
HOUSE OF REPRESENTATIVES

Quezon City

FIFTEENTH CONGRESS
First Regular Session

HOUSE BILL No. 4365.

Introduced by Representatives NERI JAVIER COLMENARES and TEDDY A. CAST

AN ACT
INCREASING PENSIONS UNDER THE SOCIAL SECURITY SYSTEM,
AMENDING FOR THE PURPOSE SECTION 12 OF R.A, 1161, AS AMENDED,
OTHERWISE KNOWN AS THE SOCIAL SECURITY LAW

EXPLANATORY NOTE

A large oumber of SSS pensioners have further suffered difficulties owing to the
continuing escalation of the cost of living in the country, which is due, in large part, to the
downtum of the global economy. The amount that these retirees receive as their monthly peasion is
rendered sadly inadequate to meet even the barest of their needs.

‘Under the new Social Security Act, otherwise known as Republic Act No. 8262, SSS
members with at least 10 credited years of service are provided a montbly pension of F1,200.00,
while those with 20 credited years are given P2,400.00. Those who retired under the old SSS Law,
R.A. 1161, are even more hard pressed because their monthly pension pays much less.

In this light, and in view of the social justice thrust of our Constitution, this bill secks to
treble the current SSS pension rates until no retirce should receive no less than P7,000 a month
thus making it more responsive to the basic necessities of SSS pensioners.

Immediate passage of this bill is eamestly sought.

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, oem Be
Rép. TEDDY A. CASINO

Bayan Muna Party-List

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fep. NERIAVIER COLMEN,
Bayan Muna Party-List



Republic of the Philippines
HOUSE OF REPRESENTATIVES
‘Quezon City

FIFTEENTH CONGRESS
First Regular Session

HOUSE BILL No. 4355

Introduced by Representatives NERI JAVIER COLMENARES and TEDDY A. CASI

AN ACT
INCREASING PENSIONS UNDER THE SOCIAL SECURITY SYSTEM,
AMENDING FOR THE PURPOSE SECTION 12 OF R.A. 1161, AS AMENDED,
OTHERWISE KNOWN AS THE SOCIAL SECURITY LAW

Be it enacted hy the Senate and House of Representatives of the Philippines in Congress
assembled:

SECTION 1. Section 12 of Republic Act No. 1161, as amended by Republic Act No.
8282, otherwise known, as the Social Security Act is hereby further amended to read as follows:

“SEC. 12. Monthly Pension. - (a) The monthly pension shall be the highest of the
following amounts:

(1) The sum of the following:

{i) Three hundred pesos (P300.00); plus

Gi) Twenty percent (20%) of the average monthly salary credit; plus

(ii) Two percent (2%) of the average monthly salary credit for each credited year
of service in excess of ten (10) years; or

(2) Forty percent (40%) of the average monthly salary credit; or

(3) One thousand pesos (P1,000.00): Provided, That the monthly pension shall in
no ease be paid for an aggregate amount of less than sixty (60) months.

(b) Notwithstanding the preceding paragraph, the minimum MONTHLY pension
shall be [One thousand two hundred pesos (P1,200.00) for members with at least
ten (10) credited years of service and Two thousand four hundred pesos
(P2,400.00) for those with twenty (20) credited years of service] FOUR
‘THOUSAND PESOS ( 4,000.00). THE FOUR THOUSAND PESOS


MONTHLY PENSION BENEFIT SHALL BE INCREASED ANNUALLY BY
FIVE HUNDRED PESOS (P500.00) PER MONTH UNTIL THE MINIMUM
MONTHLY PENSION SHALL REACH SEVEN THOUSAND PESOS
(27,000.00) PER MONTH,

THE COMMISSION SHALL EQUITABLY ADJUST THE MONTHLY
PENSIONS OF OTHER ENTITLED MEMBERS OR BENEFICIARIES WHOSE
MONTHLY PENSIONS ARE HIGHER THAN THE MINIMUM MONTHLY
PENSION TO PRESERVE THE INTEGRITY OF THE PENSION PROGRAM.”

SEC. 2. THE NEW MONTHLY PENSION AND ITS ANNUAL INCREMENT
PROVIDED HEREIN SHALL APPLY TO ALL BENEFICIARIES REGARDLESS OF THE
EFFECTIVITY OF THEIR RETIREMENT.

SEC. 3. This Act shall take effect fifteen (15) days after its publication in at least two (2)
national newspapers of general circulation, whichever comes earlier.

Approved,