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The Social Security System (SSS) has begun an early rollout of the second tranche of its Pension Reform Program (PRP), moving forward an increase originally scheduled for September and extending relief to about 4.1 million pensioners.
In a statement, Finance Secretary and Social Security Commission Chair Frederick Go and SSS President and chief executive officer Robert Joseph de Claro said the agency will release roughly P6 billion in additional pension benefits from June to August this year in a bid to ease pressure from inflation and higher energy costs.
Under the revised schedule, pensioners on record as of May 31, will start receiving the higher benefits beginning June 1. Meanwhile, those whose contingencies occur between June 1 and Aug. 31, will get the adjusted pension starting Sept. 1.
Go said the early implementation is intended to provide faster support to retirees and their families facing persistent cost-of-living pressures.
