15th Congress of the Republic 
of the Philippines 
Second Regular Session 
) 
) 
) 
SENATE 
SENATE BILL Nb. 2964 
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'11 
SEP 13 
Pt1 :49 
Introduced by Senator FERDINAND R. MARCOS, JR. 
EXPLANATORY NOTE 
The 1987 Constitution, specifically under Section 10, Article " thereof, 
provides: 
"The State shall promote social Justice in all phases of national 
development" 
In line with this principle, it is imperative to address the pressing needs of 
our country's retirees by adjusting their pension rates in order to help them cope 
up with the spiraling cost of living, 
This bill seeks to amend Republic Act No, 8282, or the Social Security Act 
of 1997, specifically in Section 12 (b) thereof, 
This legislative measure proposes to: (1) raise the minimum monthly 
pension to P3,OOO, and (2) annual increase of P500 until the minimum of P5,OOO a 
month is reached. 
The new monthly pension rates as proposed in this bill shall be applicable 
to all Social Security System members regardless of the effectivity of their 
retirement 
Approval of this bill is earnestly requested, 
'7 
R. MARCOS, JR. 


15th Congress of the Republic 
of the Philippines 
Second Regular Session 
) 
) 
) 
SENATE 
S. rio. 2 9 6 4 
Introduced by Senator FERDINAND R. MARCOS, JR. 
AN ACT 
INCREASING 
PENSIONS 
UNDER THE 
SOCIAL 
SECURITY 
SYSTEM 
AMENDING FOR THE PURPOSE SECTION 12 OF THE SOCIAL SECURITY 
ACT OF 1997 
Be it enacted by 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: 
"SECTION 12. Monthly Pension. - (a) The monthly pension shall be the 
sum of the following: 
(i) Three hundred pesos (~300.00); 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 (~1,OOO.00): Provided, That the monthly pension 
shall in no case be paid for an aggregate amount of less than sixty (60) months. 
neb) NotWithstanding the preceding paragraph, the minimum MONTHLY 
pension shall be [One thousand two hundred pesos (~1,200.00) for members with 
at least ten (10) credited years of service and Two thousand four hundred pesos 
(~2,400.00) for those with twenty (20) credited years of service} THREE 


THOUSAND PESOS (!'t3,000.00) IN THE SUCCEEDING YEARS STARTING 
JANUARY 2012. THE THREE THOUSAND MONTHLY PENSION BENEFIT 
SHALL BE INCREASED ANNUALLY BY FIVE HUNDRED PESOS (!'t500.00) 
PER MONTH UNTIL THE MINIMUM MONTHLY PENSION SHALL REACH FIVE 
THOUSAND (!'t5,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." 
SECTION 2. THE NEW MONTHLY PENSION AND ITS ANNUAL 
INCREMENT PROVIDED HEREIN SHALL APPLY TO ALL BENEFICIARIES 
REGARDLESS OF THE EFFECTIVITY OF THEIR RETIREMENT. 
SECTION 3. Separability Clause- If any provision of this Act is declared 
invalid or unconstitutional, the other provisions not affected thereby shall remain 
in full force and effect. 
SECTION 4. 
Repealing Clause.-AII laws, 
presidential decrees, 
executive orders, presidential proclamations, rules and regulations or parts 
thereof contrary to or inconsistent with this Act are hereby repealed or modified 
accordingly. 
SECTION 5. 
Effectivity.- This Act shall take effect fifteen (15) days 
following its publication in at least two (2) newspapers of general circulation or in 
the Official Gazette, whichever comes first. 
Approved.