SSS to release P1,000 pension hike on Friday

The state-run Social Security System (SSS) said pensioners will be able to receive the additional P1,000 benefit starting on Friday, March 3.

"Malugod naming ibinabalita sa aming mga pensyonado na ang karagdagang P1,000 benepisyo para sa buwan ng Enero 2017 ay maaari nang i-withdraw sa kanilang bank accounts," SSS President and Chief Executive Officer Emmanuel Dooc said in press statement on Thursday.

Dooc also said that the additional pension hike for February and March will be released on March 10 and 17.

"Magpapatuloy ang SSS sa paghahanap at paggawa ng mga paraan upang mapahaba ang buhay ng pondo para mapaglingkuran pa ng mahabang panahon ang mga kasalukuyan at papasok pang mga miyembro nito," Dooc said.

According to its Information and System Department, about P2.04 billion were already deposited in the bank accounts of pensioners and will be available for withdrawal on the said dates.

President Rodrigo Duterte last February 22 approved the release of additional P1,000 monthly pension for retirees, survivors, and permanent and partial disability pensioners of the SSS.

An estimated P6.9 billion will be allotted for the first quarter release. Meanwhile, 2.2 million SSS pensioners are expected to receive the P1,000 benefit. —Marlly Rome Bondoc/KBK, GMA News