HOUSE OF REPRESENTATIVES

Republic of the Philippines faci
HOUSE OF REPRESENTATIVE! RECEIVED
Quezon City, Metro Manila Date: 20. one
Tie: GIS
SEVENTEENTH CONGRESS By. I
First Regular Session | A

REEISTRATION UNIT

414 |
— SAND INDEX SERVICE

HOUSE BILL NO.

INTRODUCED BY REPRESENTATIVE TOBIAS “TOBY” M. TIANGCO

EXPLANATORY NOTE

This bill seeks to add a Two Thousand Peso (PhP 2,000) increase to
the pension of the beneficiaries of the Social Security System (“SSS”), by
amending Section 12 of Republic Act No. 1161, otherwise known as the
Social Secuirty Act of 1997, as amended by Republic Act No. 8282.

Under the existing law, numerous pensioners of the SSS are living in
impoverished situations considering that the monthly pensions, which is
about PhP 1,200, being received now fails to provide for their basic needs.
The benefits under the Social Security Act of 1997, as presently worded, is
clearly wanting in terms of providing for the subsistence of and improving
the lives of pensioners.

The rationale for the creation of the SSS is to “promote social justice
and provide protection to its members and their dependents.” However,
the letter of the law no longer fulfills the spirit in which it was created. The
Social Security Act of 1997 must be amended in order to address the
changing conditions of the times, particularly the effect of inflation upon
living conditions and prices of goods and services.

Therefore, approval of this bill is earnestly requested.

TOBIAS “TOBY” M. TIA!


Republic of the Philippines
HOUSE OF REPRESENTATIVES
Quezon City, Metro Manila

SEVENTEENTH CONGRESS
First Regular Session

House BiLLno,__414

INTRODUCED BY REPRESENTATIVE TOBIAS “TOBY” M. TIANGCO

AN ACT MANDATING A TWO THOUSAND PESO (P2,000.00) INCREASE
IN THE MONTHLY PENSION, WITH CORRESPONDING ADJUSTMENT OF
THE MINIMUM MONTHLY PENSION UNDER THE SOCIAL SECURITY
SYSTEM, AMENDING FOR THE PURPOSE SECTION 12 OF REPUBLIC
ACT 1161 AS AMENDED, OTHERWISE KNOWN AS THE “SOCIAL
SECURITY ACT OF 1997”

Be_it enacted by the Senate and House of Representatives of the
Philippines in Congress assembled:

SECTION 1. Any provision of law to the contrary notwithstanding,
the Social Security Commission is hereby mandated to implement a Two
Thousand Peso (PhP2,000.00) across-the-board increase in the monthly
pension under the Social Security System.

SECTION 2. Section 12 of Republic Act No. 1161, as amended by
Republic Act No. 8282, 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 years; or


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

“(3) One thousand pesos (PhP 1,000.00)
Provided, That the monthly pension shall in
no case be paid for an aggregate amount less
than sixty (60) months.

“(b) Notwithstanding the preceding paragraph, the minimum
MONTHLY pension shall be THREE THOUSAND TWO
HUNDRED PESOS (P3,200.00) [One thousand two
hundred pesos (P1,200,00)] for members with at least ten
(10) credited years of service and FOUR THOUSAND FOUR
HUNDRED PESOS (P4,400.00) [Two thousand four
hundred pesos (P2,400.00)] for those with twenty (20)
credited years of service.

SECTION 3. Repealing Clause. - All laws, acts, decrees, executive
orders, issuances, and rules and regulations or parts thereof which are
contrary to and inconsistent with any provisions of this Act are hereby
repealed, amended, or modified accordingly.

SECTION 4. Separability Clause. - If any provision of this Act is
subsequently declared unconstitutional, the validity of the remaining
provisions hereof shall remain in full force and effect.

SECTION 5. Effectivity. - This Act shall take effect immediately after
its complete publication in the Official Gazette or in a newspaper of
general circulation in the Philippines.

Approved,