STATEMENT OF SENATOR RICHARD J. GORDON PRESIDENT RODRIGO DUTERTE'S DECISION TO APPROVE THE P1K SSS PENSION HIKE

I hail the decision of President Rodrigo Duterte to approve the P2,000 increase in the monthly pension received by pensioners of the Social Security System (SSS) in two tranches - P1,000 immediately with the second tranche of P1,000 sometime in 2021 depending on certain financial milestones to ensure the continuous financial stability of the Social Security System. It is very much welcomed by the 2.18 million pensioners especially in these times of great economic challenges to our people.

It is our duty in the Senate to provide laws that would improve our people's lives though I don't encourage the Senate to legislate for pension increases. However, we have to provide appropriate legislation to help the SSS become an even more outstanding manager of the fund so that it could expand its membership, invest maximize the use of its assets and invest the funds in projects that would ensure a healthy return on investments.

Rest assured that this representation, as chairman of the Senate Committee on Government Corporations and Public Enterprises, shall continue to provide the necessary support to the SSS to ensure the extension of its lifespan. The Senate will provide the appropriate legislation necessary to strengthen the SSS and to assist it in preserving the sustainability and life of its funds that is considered ideal among other social security systems around the world