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Revilla wants SSS law amended

The Manila Times logo The Manila Times 7/10/2019 BERNADETTE E. TAMAYO
Bong Revilla in a blue shirt © Provided by The Manila Times Publishing Corp.

RETURNING Sen. Ramon Revilla Jr. wants employees in the private sector to start receiving their Social Security System (SSS) pension when they reach 55 years old.

Sen. Ramon Revilla Jr

The senator filed a bill amending the Social Security System Act to adjust the age when SSS contributors can start receiving pension.

“At present, SSS beneficiaries need to wait until 60 years old before they can be granted their monthly pension,” Revilla said.

This measure complements Revilla’s other bill lowering the legal age of senior citizens from 60 to 56.

As of September 2016, there were over 34.5 million registered SSS members, with more than 1.1 million retirees receiving their pensions.

“The bill proposes to lower the required age of SSS members for them to start receiving their retirement benefits early,” the senator said.

He said for a member who was unemployed yet had paid at least 120 monthly contributions prior to the semester of retirement, the proposed “required age [in receiving pension] is lowered from 60 to 55.

“On the other hand, a member, whether employed or not, who has reached the age of 65, required age is lowered from 65 to 60 years old,” Revilla said.

He noted that retirees under existing SSS laws were entitled to monthly pensions, lumpsum amount, Philippine Health Insurance Corp. coverage and death benefits, among others.

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