. , 
FIFTEENTH CONGRESS OF THE ) 
REPUBLIC OF THE PHILIPPINES ) 
Second Regular Session 
) 
SENATE 
S.B. No. 2883 
"11 
JUL -5 1'6 :05 
Introduced by SENATOR MANNY VILLAR 
EXPLANATORY NOTE 
A large number 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 
downturn of the global economy. The amount that these retirees receive as their monthly 
pension 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 monthly pension of 
P1,200.00, 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 seeks to 
treble the current SSS pension rates until no retiree shou Id 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 earnestly sought. 
ILLAR 


FIFTEENTH CONGRESS OF THE ) 
REPUBLIC OF THE PHILIPPINES ) 
Second Regular Session 
) 
SENATE 
S.B. No. 2883 
Introduced by SENATOR MANNY VILLAR 
AN ACT 
'11 
JUL -5 r 6 :05 
INCREASING PENSIONS UNDER THE SOCIAL SECURITY SYSTEM, 
AMENDING FOR THE PURPOSE SECTION 12 OF R.A. 1161, AS AMENDED 
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. 
2 
8282, otherwise known, as the Social Security Act is hereby further amended to read as follows: 
3 
4 
5 
6 
7 
8 
9 
10 
11 
12 
13 
14 
15 
16 
17 
18 
19 
20 
21 
22 
23 
24 
25 
26 
27 
"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); piUS 
(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 (P1 ,000.00): Provided, That the monthly pension shall 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] FOUR 
THOUSAND PESOS ( P4,000.OO). THE FOUR THOUSAND PESOS MONTHLY 
PENSION BENEFIT SHALL BE INCREASED ANNUALLY BY FIVE HUNDRED 
PESOS (P500.00) PER MONTH UNTIL THE MINIMUM MONTHLY PENSION 
SHALLREACH SEVEN THOUSAND PESOS (P7,OOO.OO) PER MONTH. 
28 
THE COMMISSION SHALL EQUITABLY ADJUST THE MONTHLY PENSIONS 
29 
OF OTHER ENTITLED MEMBERS OR BENEFICIARIES WHOSE MONTHLY 
30 
PENSIONS ARE HIGHER THAN THE MINIMUM MONTHLY PENSION TO 
31 
PRESERVE THE INTEGRITY OF THE PENSION PROGRAM." 
32 
33 
SEC. 2. THE NEW MONTHLY PENSION AND ITS ANNUAL INCREMENT PROVIDED 
34 
HEREIN SHALL APPLY TO ALL BENEFICIARIES REGARDLESS OF THE EFFECTIVITY OF 
35 
THEIR RETIREMENT. 
36 
37 
SEC. 3. This Act shall take effect fifteen (15) days after its publication in at least two (2) 
38 
national newspapers of general circulation, whichever comes earlier. 
39 
40 
Approved, 
41