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Senator Pimentel Backs Gov’t Plan to Raise SSS and GSIS Pensions PDF Print E-mail
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Columns - Sen. Aquilino Q. Pimentel, Jr.
Written by Senator Pimentel's Press Office   
Monday, 05 January 2009 03:21

S enate Minority Leader Aquilino Q. Pimentel, Jr. (PDP-Laban) today said an administration plan to raise the monthly retirement pensions for members of the Social Security System and Government Service Insurance System should prod Congress to act on long-pending bills that prescribe such benefit adjustment.

 

Senator Pimentel said the planned increase is long-overdue and should be implemented through appropriate legislation and amendments to the SSS and GSIS charters.

 

In the case of the SSS, Mr. Pimentel noted the persistent grievance of retirees about the “meager and unrealistic” pension they are getting.

 

On the other hands, he said GSIS members have lately been complaining about the adoption of a new system of computing pensions that is based on the actual amount of premium contributions which supposedly puts them at a disadvantage by reducing the amount of the monthly benefit.

 

“It is imperative on the part of the government, specifically the SSS and GSIS, to extend pension, disability and other benefits to retirees that are reasonable, adequate, and commensurate to their contributions to the social security scheme. These benefits should be granted without impairing the financial soundness of the pension funds intended for employees from both the private and public sectors,” Senator Pimentel said.

 

The hike in SSS and GSIS pensions was favorably considered by administration financial, economic and budget managers during a recent meeting of the Development Budget Coordinating Committee (DBCC).

 

Socio-Economic Planning Secretary Ralph Recto and Finance Secretary Margarito Teves said the proposed upgrading of the SSS and GSIS pensions was part of government steps to enable the people to cushion the impact of the global financial crisis and to stimulate economic growth.

 

Senator Pimentel said the SSS and the GSIS are now in a much better financial position to increase the pensions of retirees, citing official data that the actuarial life of the SSS is good until 2036 and that of the GSIS until 2055.

Aside from this, the SSS reported that it expects its net income to reach P21.54 billion last year. In the first six months of 2008, the SSS earned a net income of P16.75 billion.

 

The GSIS, for its part, reported that its net income went up to P50 billion last year, up 21 percent from P21.2 billion in 2007.

 

The income of the SSS and GSIS is derived from premium contributions and from earnings from loans to individual and corporate members, investments and other business ventures.

 

Senator Pimentel is the author of a bill that seeks to restructure the mode of computing SSS pensions that will entitle the retirees to a bigger amount.

 

Under the Social Security Act of 1987 (Republic Act 8282) SSS members with at least 10 credited years are entitled to a minimum monthly pension of P1,200 while those with 20 years get P2,400.

 

Senator Pimentel said his proposal seeks to raise the minimum monthly pension to P3,000. It will also grant an annual increase of P500 in the pension until it reaches P5,000 which will be the minimum amount that retirees should get.

 

The Pimentel bill provides that the new minimum monthly pension shall apply to all SSS pensioners regardless of the date of their retirement.

 

“With the spiraling cost of living, specially in the prices of foods, medicines and other essential commodities, the current amount of monthly pension has been rendered woefully inadequate to meet even the barest needs of SSS pensioners,” the bill’s author said.

 

Senator Pimentel said the minimum pension of P5,000 proposed for SSS retirees would make it at par with the monthly pension for war veterans and military retirees that they receive from the Philippine Veterans Affairs Office. # # #

 


Last Updated on Monday, 05 January 2009 03:22
 

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Mar 18, 2010 - Thursday Meditation (Make Daily Progress Toward GOD!)

 

S aint Augustine of Hippo wrote: “As Christians, our task is to make daily progress toward God. Our pilgrimage on earth is a school in which God is the only teacher, and it demands good students, not ones who play truant. In this school we learn something every day. We learn something from commandments, something from examples, and something from sacraments. These things are remedies for our wounds and materials for study.”

Thursday in the Fourth Week of Lent

Exodus 32:7-14

Psalm 106:19-20, 21-22, 23

J ohn 5:31-47 If I bear witness to myself, my testimony is not true; (32) there is another who bears witness to me, and I know that the testimony which he bears to me is true. (33) You sent to John, and he has borne witness to the truth. (34) Not that the testimony which I receive is from man; but I say this that you may be saved. (35) He was a burning and shining lamp, and you were willing to rejoice for a while in his light. (36) But the testimony which I have is greater than that of John; for the works which the Father has granted me to accomplish, these very works  which I am doing, bear me witness that the Father has sent me. (37) And the Father who sent me has himself borne witness to me. His voice you have never heard, his form you have never seen; (38) and you do not have his word abiding in you, for you do not believe him whom he has sent. (39) You search the scriptures, because you think that in them you have eternal life; and it is they that bear witness to me; (40) yet you refuse to come to me that you may have life. (41) I do not receive glory from men. (42) But I know that you have not the love of God within you. (43) I have come in my Father's name, and you do not receive me; if another comes in his own name, him you will receive. (44) How can you believe, who receive glory from one another and do not seek the glory that comes from the only God? (45) Do not think that I shall accuse you to the Father; it is Moses who accuses you, on whom you set your hope. (46) If you believed Moses, you would believe me, for he wrote of me. (47) But if you do not believe his writings, how will you believe my words?"

Meditation by Don Schwager:

Do you know the joy of the gospel and a life fully submitted to Jesus Christ? Jesus’ opponents refused to accept his divine authority and claim to be the only begotten Son from the Father. They demanded evidence for his Messianic claim and equality with God. Jesus answers their charges with the supporting evidence of witnesses. The law of Moses had laid down the principle that the unsupported evidence of one person shall not prevail against a man for any crime or wrong in connection with any offence he committed (see Deuteronomy 17:6). At least two or three witnesses were needed. Jesus begins his defense by citing John the Baptist as a witness, since John publicly pointed to Jesus as the Messiah and had repeatedly borne witness to him (see John 1:19, 20, 26, 29, 35, 36). Jesus also asserts that a greater witness to his identity are the signs and miracles he performed. He cites his works, not to point to himself but to point to the power of God working in and through him. He cites God the Father as his supreme witness.

Jesus asserts that the scriptures themselves, including the first five books of Moses, point to him as the Messiah, the promised Savior. The problem with the scribes and Pharisees was that they did not believe what Moses had written. They desired the praise of their fellow humans and since they were so focused on themselves, they became blindsighted to God. They were so preoccupied with their own position as authorities and interpreters of the law that they became hardened and unable to  understand the word of God. Their pride made them deaf to God’s voice. Scripture tells us that God reveals himself to the lowly, to those who trust not in themselves, but who trust God and listen to God's word with an eagerness to learn and to obey. The Lord Jesus reveals to us the mind and heart of God. Through the gift of the Holy Spirit he opens our ears so that we may hear his voice and he fills our hearts and minds with the love and knowledge of God.

Saint Augustine of Hippo wrote: “As Christians, our task is to make daily progress toward God. Our pilgrimage on earth is a school in which God is the only teacher, and it demands good students, not ones who play truant. In this school we learn something every day. We learn something from commandments, something from examples, and something from sacraments. These things are remedies for our wounds and materials for study.” Are you an eager student of God’s word and do you listen to it with faith and trust?

"Lord Jesus, fill me with your Holy Spirit that I may listen to your word attentively and obey it joyfully."

Psalm 106:19-23

 

Supplementary Reading

Make Way for Victory

{xtypo_quote} But thanks be to God, Who gives us the victory [making us conquerors] through our Lord Jesus Christ  (I Cor 15:57) {/xtypo_quote} 

G od desires that you live in victory in every area of your life. The scripture says He always causes us to triumph through Christ Jesus! No matter what you may be facing today, God wants to make you more than a conqueror. Are you battling sickness? God wants to give you healing. Are you struggling with a broken relationship? God wants to give you restoration and peace. Are you facing a need—physically, spiritually, or emotionally? God wants to give you provision and supply all your needs according to His riches in glory.

Notice this verse starts out by saying, "Thanks be to God." In the Bible, when God's people were going into battle, many times they sent the worshipers out in front of the warriors. When you choose to be thankful and bless the Lord in the midst of your battle, you are making a way for Him to move in your life. Start today by thanking Him for His goodness. I say it all the time, magnify your God; don't magnify your problems. Give Him the thanks and praise as He leads you into victory in every area of your life!

Father in heaven, today I give You thanks for Your mercy and faithfulness in my life. Thank You for leading me into victory! I magnify You and bless Your holy Name today. In Jesus' Name. Amen. ---Joel Osteen

 
For meditation of the previous days/months , please click any of the following links:

 
 

 
GOD BLESS US ALL!
O Theos Na Mas Evlogisi!
PRAY as if everything depended on HIM. ACT as if everything depended on YOU.

 

 

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