SSS releases P443M worth of EC benefit

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THE Social Security System (SSS) reported yesterday that P442.38 million worth of benefits was disbursed to over 17,619 Employees Compensation (EC) pensioners from Jan. 2017 to Oct. 2018, following President Rodrigo R. Duterte’s approval of the EC benefit increase last May. Mr. Duterte signed Executive Order No. 54. s. 2018 on May 8, which provided the P1,150 across-the-board increase in EC monthly disability pension of all EC permanent disability pensioners and qualified beneficiaries in the private sector, as well as the P425 monthly increase in carer’s allowance. “Funds were already released to our partner-disbursing banks on October 19, 2018 ,” SSS President and Chief Executive Officer Emmanuel F. Dooc said in a statement. The SSS said that the increases in the benefits did not affect the state insurance fund’s life. — Elijah Joseph C. Tubayan