National Pensioners Week declared

MANILA, Philippines — President Marcos has declared the second week of September every year as “National Pensioners’ Week” to honor their contribution to national development and raise awareness on social security protection.

The Social Security System (SSS) and Government Service Insurance System (GSIS) will lead the observance and identify programs, activities and projects for the annual celebration based on Proclamation 1020, signed by Executive Secretary Lucas Bersamin on Sept. 10.

SSS is the state-run pension fund for private sector workers, while GSIS is the state workers’ pension fund.

The proclamation directed all agencies and instrumentalities of the national government, including government-owned or controlled corporations and state universities and colleges to actively participate and render the necessary support and assistance to SSS and GSIS.

It also encouraged active participation and support from all local government units, non-government organizations, as well as the private sector, for its effective implementation.

The SSS pension reform, which took effect this month, grants a 10-percent increase for retirement and disability pensioners, a five-percent hike for survivorship pensioners and higher benefits for dependents.

The adjustments will be implemented in three annual tranches every September, beginning this year.

The SSS said this is the first major pension adjustment since 2014.

During the 68th anniversary of the SSS on Sept. 10, Marcos led the launch of the agency’s landmark reform program that will raise the pensions of 3.8 million beneficiaries over the next three years without requiring additional contributions.

In his speech during the anniversary, Marcos directed the SSS and GSIS to modernize their systems, invest wisely, and expand accessibility.

Proclamation 1020 stated that one of the goals identified in the Philippine Development Plan 2023-2028 is to have a transformative social protection system that helps Filipinos manage risks and addresses structural vulnerabilities and social inequities.

It also stressed that one of the key pillars of the Marcos administration’s eight-point socio-economic agenda is to reduce vulnerabilities and strengthen social protection.

During the 68th anniversary of the SSS on Sept. 10, Marcos led the launch of the agency’s landmark reform program that will raise the pensions of 3.8 million beneficiaries over the next three years without requiring additional contributions.

In his speech during the anniversary, Marcos directed the SSS and GSIS to modernize their systems, invest wisely, and expand accessibility.