Metro Manila (CNN Philippines) — Makabayan bloc lawmaker Bayan Muna party list Rep. Neri Colmenares denounced on Thursday (January 14), President Benigno Aquino III’s decision to veto the Social Security System (SSS) pension hike bill.
The proposed measure, which mandates a P2,000 across-the-board increase in SSS monthly pensions, was already approved by the House of Representatives and the Senate.
The bill is supposed to lapse into law on Friday (January 15), but was vetoed by the President on Tuesday (January 12).
In a statement, the principal author of the proposed law called the act of the president, anti-poor and anti-worker.
“Walang puso ba talaga si Pres.Aquino? This is patently anti-pensioner, anti-poor and anti-worker!” Colmenares said.
[Translation: Don’t president Aquino have a heart? This is patently anti-pensioner, anti-poor and anti-worker!”]
Based on their computations, Colmenares’ office noted that the increase will cost SSS about P3.8 billion per month, but reiterated that the increase was badly needed by the pensioners.
Colmenares went on and said the pension hike is very reasonable.
“The [P2,000] hike is very reasonable and is badly needed by pensioners and their dependents. I am now calling on the House of Representatives and the Senate to side with the people and override the Aquino veto.”
Meanwhile, former SSS President Corazon Dela Paz welcomed Aquino’s veto on the pension hike bill.
Dela Paz said it may be an unpopular decision, “but best for the country’s pension system.”
Dela Paz pointed out that if there will be a pension hike, the SSS must also increase required contribution of workers.
Dela Paz added, the government must subsidize SSS as well or else the system will be cash-strapped by 2029.
CNN Philippines’ Rex Remitio contributed to this report.
