MANILA — The Philippine Senate on Monday, Feb. 22, passed a bill granting the President of the Republic the power to defer the increases in contributions to the Social Security System (SSS) while the nation is still under a public health emergency under Proclamation No. 922, as amended by Proclamation No. 1021.

Senator Richard J. Gordon, chairman of the Senate Committee on Government Corporations and Public Enterprises, and author of Senate Bill No. 2027 thanked colleagues “who contributed to this wonderful opportunity to alleviate the suffering of our people even for a short while.”

During his sponsorship speech for the bill, Gordon stressed that the measure gives the members of the SSS financial breathing space to be able to adjust to the ongoing national emergency, while also taking into consideration the state-run insurer’s financial viability.

“Walang pambayad ang mga tao dahil may pandemya. Gusto nating matulungan ang mga nahihirapan. We should make the SSS law nimbler and leave the deferment of contribution increase for the President to decide, provided that there is a consultation with the SSS and affected stakeholders,” he emphasized.

SBN 2027 that amends Section 4(a)(9) of Republic Act No. 11199 or the Social Security Act of 2018 states that deferment of the increase in contributions shall only be in effect for a limited period of six months, which may be extended for another six months.

“Ito ay karagdagang assistance para sa tao. Mayroon na rin tayong financial breathing space para sa mga nawalan ng trabaho ngayong pandemic tulad ng unemployment benefit na nagkakahalaga ng Php 20,000. With many businesses closing and employees losing their jobs, people need every bit of help they can get,” said Gordon.

The senator also pointed out that while deferring the increase in contributions is the fastest way to respond to the problem, the SSS can lobby and appeal to the President anytime.

SBN 2027 is a consolidated measure of SBN 1970 filed by Gordon, SBN 1965 filed by Senators Joel Villanueva and Sherwin Gatchalian, and SBN 1996 filed by Senator Ramon Revilla Jr. ~