MANILA, Philippines — A Senate panel has approved a proposal that would grant the President authority to deferthe contribution rate hike of state-run pension fund Social Security System (SSS).
During a hearing on Tuesday, the Senate Committee on Government Corporations and Public Enterprises tackled three bills either seeking to postpone the SSS contribution hike scheduled for 2021 or to give the President the power to do so.
SSS President president and chief executive officer Aurora Ignacio opposed the proposed deferment.
“At the outset, we’d like to state that the bills proposed will tend to imperil probably on a permanent or a temporary basis the sustained benefits of the m…
Keep on reading: Senate panel OKs allowing President to defer SSS contribution hike