EIGHTEENTH CONGRESS OF THE 
REPUBLIC OF THE PHILIPPINES 
First Regular Session
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)
S E N A T E
S. No. 
301
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of I'tr f:-'rr;r!’ a ’
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Introduced by SENATOR RAMON BONG REVILLA, JR.
AN ACT
AMENDING SECTION 12-B OF REPUBLIC ACT NO. 8282 ENTITLED "AN ACT 
FURTHER STRENGTHENING THE SOCIAL SECURITY SYSTEM THEREBY 
AMENDING FOR THIS PURPOSE, REPUBLIC ACT NO. 1161, AS AMENDED, 
OTHERWISE KNOWN AS THE SOCIAL SECURITY LAW"
EXPLANATORY NOTE
Republic Act No. 8282 , the law which further strengthen the Social Security 
Law of the country, recognizes the policy of the State "to establish, develop, 
promote and perfect a sound and viable tax-exempt social security system suitable 
to the needs of the people throughout the Philippines which shall promote social 
justice and provide meaningful protection to members and their families against the 
hazards of disability, sickness, maternity, old age, death and other contingencies 
resulting in loss of income or financial burden". As of September 2016, there are 
more than 34.5 million registered SSS members with more than 1.1 million retirees 
receiving their pensions.1
This Bill recognizing the current statistics, proposes to lower the required age 
of Social Security Service (SSS) members for them to start receiving their retirement 
benefits early. For a member who is unemployed yet has paid at least one hundred 
twenty (120) monthly contributions prior to the semester of retirement, required age 
is lowered from sixty (60) years old to fifty-five (55). On the other hand, a member, 
whether employed or not, who has reached the age of sixty-five (65) years, required 
age is lowered from sixty-five (65) to sixty (60) years old.
1 https://news.abs-cbn.com/focus/01/12/17/social-security-system-quick-facts


This measure will enable the retirees to reap the benefits of their retirement 
and pension while still at an age of high productivity. This will also allow them to 
pursue any endeavor they may have set aside in the past, be it entrepreneurial or 
the fulfillment of a dream. The lowering of the age requirement gives them ample 
time to pursue these things with a reasonable chance of success by giving them a 
few more years in their prime. Time may not be on their side, but the State can be.
It is for the reasons stated above that the passage of this 
earnestly sought.
into law is
RAM^N BONG REVILLA, JR.


EIGHTEENTH CONGRESS OF THE 
)
REPUBLIC OF THE PHILIPPINES 
)
First Regular Session 
)
of liir X  :> t.Tl}’
Introduced by SENATOR RAMON BONG REVILLA, JR.
AN ACT
AMENDING SECTION 12-B OF REPUBLIC ACT NO. 8282 ENTITLED "AN ACT 
FURTHER STRENGTHENING THE SOCIAL SECURITY SYSTEM THEREBY 
AMENDING FOR THIS PURPOSE, REPUBLIC ACT NO. 1161, AS AMENDED, 
OTHERWISE KNOWN AS THE SOCIAL SECURITY LAW"
Be it enacted by the Senate and House o f Representatives o f the Philippines in 
Congress assembled:
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Section 1. Short Title. -  Section 12-B of Republic Act No. 8282, otherwise
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known as the Social Security Act of 1997, is hereby amended to read as follows:
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SEC. 12-B. Retirement Benefits. -  (a) A member who has paid at
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least one hundred twenty (120) monthly contributions prior to the semester
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of retirement and who: (1) has reached the age of [sixty (60)] FIFTY-FIVE
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(5 5 ) years and is already separated from employment or has ceased to be
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self-employed; or (2) has reached the age of [sixty-five (65) SIXTY (60)
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years, shall be entitled for as long as he lives to the monthly pension:
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Provided, that he shall have the option to receive his first eighteen (18)
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monthly pensions in lump sum discounted at a preferential rate of interest to
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be determined by the Social Security Service (SSS).
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(b) A covered member who is [sixty (60)] FIFTY-FIVE (5 5 ) years old at
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retirement and who does not qualify for pension benefits under paragraph (a)
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above, shall be entitled to a lump sum benefit equal to the total contributions
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paid by him and on his behalf: Provided, that he is separated from


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employment and is not continuing payment of contributions to the SSS on his 
own.
(c) The monthly pension shall be suspended upon the re-employment or 
resumption of self-employment of a retired member who is less than [sixty- 
five (65)] SIXTY (60) years old. He shall again be subject to Section 
Eighteen (18) and Section Nineteen (19) of this Act.
(d) Upon the death of the retired member, his primary beneficiaries as of the 
date of his retirement shall be entitled to receive the monthly pension: 
Provided, that if he has no primary beneficiaries and he dies within sixty (60) 
months from the start of his monthly pension, his secondary beneficiaries 
shall be entitled to a lump sum benefit equivalent to the total monthly 
pensions corresponding to the balance of the five-year guaranteed period, 
excluding the dependents' pension.
(e) The monthly pension of a member who retires after reaching age [sixty 
(60)] FIFTY-FIVE (55) shall be the higher of either; (1) the monthly pension 
computed at the earliest time he could have retired had he been separated 
from employment or ceased to be self-employed plus all adjustments thereto; 
or (2) the monthly pension computed at the time when he actually retires.
Sec. 2. Separability Clause. -  If any provision or part hereof, is held invalid or 
unconstitutional, the remainder of the law or the provision not otherwise affected 
shall remain valid and subsisting.
Sec. 3. Repealing Clause. -  All laws, presidential decrees or issuances, 
executive orders, 
letters of instruction, administrative orders or rules and 
regulations, which may be inconsistent with this Act shall be deemed repealed, 
amended or modified accordingly.


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Sec. 4. Effectivity Clause. -  This Act shall take effect fifteen (15) days 
following its publication in two (2) newspapers of general circulation.
Approved,