SIXTEENTH CONGRESS OF THE REPUBLIC) 
OF THE PHILIPPINES 
) 
First Regular Session 
) 
SENATE 
Senate Bill No. 1498 
'13 
SEP -4 /19:13 
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INTRODUCED BY SEN. JINGGOY EJERCITO ESTRADA 
EXPLANATORY NOTE 
Under Republic Act No. 8282, or the Social Security Act of 1997, specifically in 
Section 12 (b) thereof, SSS members with at least ten (10) credited years of 
service are provided a monthly pension of P1,200.00, while those with twenty 
(20) credited years are given P2,400.00. 
With the spiraling cost of living, especially in the prices of medicines and 
essential commodities, these amounts have been rendered woefully inadequate 
to meet even the barest needs of the SSS pensioners. 
Retirees prior to the effectivity of RA 8282 are even more hardpressed because 
their monthly pension is governed by the old Social Security Law of June 
18,1954 (RA 1161) that pays very much less. 
Thus, it becomes imperative, in light of the social justice policy enshrined in the 
Constitution, to adjust the SSS pension rates to keep them fairly responsive to 
the basic necessities of private employment retirees. 
This measure is meant to carry out such adjustment through a two-pronged 
approach: (1) raising the minimum monthly pension to P3,OOO; and (2) annual 
increase of P500 until the minimum of P5,OOO a month is reached. Additionally, 
this measure provides that the new monthly pension rates shall be applicable to 
all SSS members regardless of the effectivity of their retirement. 
Early passage of this bill is thus earnestly urged to provide immediate relief to the 
countless distressed SSS retirees. 
Senator 


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SIXTEENTH CONGRESS OF THE REPUBLIC) 
tI~Hh;f or t~~,Sp\r[lt~ftl4 
OF THE PHILIPPINES 
) 
First Regular Session 
) 
SENATE 
Senate Bill No. 1498 
"13 
SEP -4 A 9 :13 
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INTRODUCED BY SEN. JINGGOY EJERCITO ESTRADA 
AN ACT 
INCREASING PENSIONS UNDER THE SOCIAL SECURITY SYSTEM 
AMENDING FOR THE PURPOSE SECTION 12 OF REPUBLIC ACT NO. 1161, 
OTHERWISE KNOWN AS THE "SOCIAL SECURITY ACT OF 1997" 
Be it enacted by the Senate and the House of Representatives of the Philippines 
in Congress assembled: 
.. , . 
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SECTION 1. Section 12 of Repl!blic Act No. 1161, as amended by Republic Act 
No. 8282, otherwise known, aslnEn~dcial 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 
(ii) 
Twenty percent (20%) of the average monthly salary 
credit; plus 
(iii) 
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; Provided, That the monthly pension 
in no case 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] THREE 
THOUSAND PESOS (P3,000.00) IN THE SUCCEEDING YEARS 
STARTING 
JANUARY 
2005. 
THE 
THREE 
THOUSAND 
MONTHLY 
PENSION 
BENEFIT 
SHALL 
BE 
INCREASED 
ANNUALLY BY FIVE HUNDRED PESOS (P500.00) PER MONTH 


" 
' .. 
UNTIL THE MINIMUM MONTHLY PENSION SHALL REACH FIVE 
THOUSAND 
PESOS 
(P5,OOO.OO) 
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 complete publication 
in the Official Gazette or in at least two (2) national newspapers of general 
circulation, whichever comes earlier. 
Approved, 
I 
j 
,.," 
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