Question & AnswerQ&A (EXECUTIVE ORDER NO. 14)
The main purpose is to grant an across-the-board 10% pension increase to all Social Security System (SSS) and Employees' Compensation (EC) pensioners and to provide supplemental pensions to SSS permanent partial disability pensioners.
All surviving SSS and EC pensioners as of August 31, 1992 are entitled to the 10% across-the-board pension increase.
The pension increase and supplemental pensions took effect on September 1, 1992.
SSS permanent partial disability pensioners are entitled to a monthly supplemental pension of three hundred pesos (P300).
Yes, under Executive Order No. 400, which took effect on May 1, 1990, SSS permanent total disability pensioners already receive a monthly supplemental pension of P300 as financial assistance.
No, actuarial studies showed that the SSS and EC funds can finance these benefits without increasing contribution rates or impairing fund viability.
The supplemental pension is intended to help cover additional expenses similar to those incurred by permanent total disability pensioners, such as costs for regular medication and necessary aids and appliances.
Yes, the 10% pension increase applies across-the-board to all surviving SSS and EC pensioners as of the specified date.