Published January 22, 2021, 5:00 AM
State-run Social Security System (SSS) warned that the suspension of the scheduled increase in member-contribution will considerably strain the already dire financial position of the pension fund.
During the House Committee on Government Enterprises and Privatization hearing, SSS President and Chief Executive Officer Aurora C. Ignacio strongly opposed all pending bills seeking to defer or altogether stop the implementation of the contribution hike.
Aurora C. Ignacio, SSS president and chief executive
Ignacio said these House measures, which aim to overrule the Republic Act No. 11199 otherwise known as the Social Security Act of 2018, “tend to weaken, rather than strengthen” the SSS.