The Social Security System (SSS) announced an increase in pension payments with a new amount of ₱1,976 to qualifying pensioners across the country in the Philippines. This increase will help the elderly and retired people meet the increasing cost of living.
The increase in pension payments aligns with the mandate of the SSS to aid its members in achieving a decent living in their old age. Let’s now check who will benefit from this increase and the date by which you should be receiving this amount in your account.
About the ₱1,976 Pension Increase
SSS declared that the increase in the pensioners’ ₱1,976 will be effective starting from the next cycle of payment. This real increase is granted depending on the increased need of the retiring members who use pension money for daily subsistence.
This sum will supplement the regular pension payments, therefore any members qualified will receive both the regular amount and the ₱1,976 in addition. This increase is however part of more SSS programs aimed at inflation and assisting retirees with an increased cost of living.
Who Is Eligible for the ₱1,976 Increase?
The ₱1,976 pension raise will be given to eligible pensioners as stipulated by SSS. Members should be on regular monthly pensions and minimum contribution requirements. Members whose pension has been granted are defacto qualified for this increase. Old pensioners might want to take this opportunity to ensure their SSS account is updated in order to get an increase.
When Will the ₱1,976 Increase Be Paid?
SSS has already said, “Pensioners shall be paid the increase in ₱1,976 effective next month by the new program.” The pensioners should expect to receive their additional ₱1,976 on top of the announced payout dates.
It is advisable to contact the SSS website for any recent developments in the exact payment date. Ensure your account details are correct and updated to avoid delays in receiving the increase.
What Must Be done to Receive the Increase?
If you feel you qualify for the pension increase, the next step is to check your SSS account regularly and see that your contributions are correctly posted. Keeping your contact information updated is an equally pivotal thing you should do to avoid communication delays. If there are any doubts or concerns about your eligibility or payment, do make it a point to reach out to SSS customer service or visit an SSS branch close to you.