A formal order for the increase in benefits for Social Security System pensioners has already been issued by Malacañang on Wednesday (February 22).
The hike that was approved by President Rodrigo Duterte on January 21 will give pensioners an additional P1,000.
The memorandum was signed by Executive Secretary Salvador Medialdea and was sent to SSS chair Amado Valdez.
“Upon representations made by SSS, and subject to existing laws, rules, and regulations, please be informed that the One Thousand Peso (P1,000) increase in benefits of qualified SSS retirees, survivors, and permanently disabled pensioners effective January 2017, has been approved,” the memorandum stated.
The pension increase is retroactive. Pensioners will receive their January and February differentials in March.
Along with the approval of the pension increase is the 1.5 percent contribution hike which will be effective on May 2017.