State-run pension fund Social Security System asked the Senate to amend its 1997 charter, a top executive said over the weekend.
SSS president and chief executive Emmanuel Dooc said the proposed bill to amend Republic Act No. 8282 or Social Security Law of 1997 received wide support in the Senate, following Sen. Richard Gordon’s sponsorship speech on May 22.
Dooc said Senate Bill 1753 which aimed to amend the 21-year old SSS law gathered the attention of the senators after the committee of government corporations and public enterprises and the committee on labor, employment and human resources development led by Gordon presented Committee Report No. 300.
“We are grateful to Sen. Richard Gordon in pushing the amendment of some provisions of the SSS charter. This is a long-term solution to maintain the viability of SSS in order to continuously provide meaningful benefits,” Dooc said.
Gordon presented the bill citing the need to amend the existing law for the benefit of the pension fund, members, pensioners, and stakeholders. Gordon said the bill if enacted into law, would expand, protect and grow the fund.