Sen. Osmeña expresses support on Pres. Aquino’s move to veto the bill suggesting P2,000 SSS pension hike
The senator said that although he voted for the across-the-board raise, he understands PNoy’s decision
He also cited that if there would be no back-up funds to support the raise, SSS will go bankrupt in 11 years
Senator Serge Osmeña said that while he voted for a P2,000 across-the-board raise for Social Security System (SSS) pensioners, he also backed its veto by President Benigno Aquino III as he further stated it would be “financial suicide” if the SSS would have no income to support the increase.
Osmeña was among the 15 senators who approved the bill in the Senate last November. Senate Minority Leader Juan Ponce Enrile was the lone senator who voted against it. It was later vetoed by the President.
“Alam mo, tama ang ginawa ni President PNoy na huwag tayong gumastos pag wala tayong income. Lahat naman tayo, ganun naman tayo sa bahay. Yung household budget natin, gagastos ba tayo ng P1,000 kung ang income natin ay P500 lamang? You’re committing financial suicide,” Osmeña was quoted in an article published by Philippine Daily Inquirer dated January 19.
[“The President did the right thing. We should not spend if we don’t have income. That’s exactly what we do in our home. We must consider our budget before spending.”]
When asked about his opinion on whether the President abused his veto power, Osmeña said: “No, he did the right thing.”
“Basta yung sinabi nya, wala tayong source of income, tama ang ginawa nya and even if I’m not a member of the Liberal Party, if he’s correct, I will always defend it,” he added.
[“He said we don’t have source of income so he did the right thing.”]
The senator was also asked why Congress would approve a bill that is not doable like the SSS pension hike. Osmeña’s answer goes: “Yun na nga hindi ko maintindihan, you know it’s election session, it’s popular to do and what I’m saying now is not popular, maraming magagalit sa akin but we have to teach them that you now it’s nice to be popular but it’s better to be right.”
[“That is what I don’t understand. If I will speak, a lot of people will get mad.”]
Meanwhile, Osmeña explained that when he voted in favor of the bill, the first thing that came into his mind is that the President would simply direct the SSS directors to raise contributions to support the proposed pension hike.
“Let’s say P100 a month times 30 million members, we’ll get an additional P3 billion or P36 billion a year. Makakatulong na yun. Pero kung walang ganun, mahirap namang batikusin ang ating Presidente kung tama naman ang ginawa nya,” he stressed.
[‘That would help. But if there will be additional funds for the proposed hike then it is not right to oppose the President if he did the right thing.”]
In addition, the senator cited that if everyone wants to keep the fiscal house in order, one must be able to exercise financial discipline.
“But this is not the end of it, talagang itutulak ko na ipataas ng P2,000 ang pension but we have to increase the income of the SSS kung hindi in 11 years, SSS is bankrupt at kawawa naman lahat kayo…” the senator lamented.
[“I will push for the P2,000 pension hike but we have to increase the SSS income because if we don’t, SSS will go bankrupt.”]
In view of this, Osmeña said he signed a resolution in the Senate asking the President to reconsider his veto on the bill while cautioning his colleagues that they would be committing financial suicide if the SSS could not raise its income to support the pension hike.
He also revealed that he is also studying the possibility of merging the SSS and the Government Service Insurance System (GSIS) since the latter had a steady income and it was easier to collect contribution from its members.
The merger, he said, could be enforced through legislation.
However, it would still require the approval of the county’s financial managers like the Department of Finance, Governance Commission for GOCCs, and the Insurance Commission, among others.