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Big money for PPPs but no spare change for SSS pensioners

Cbanga360.Net - The Bicol Street Journal

Published         21 Jan , 2016      2:05 am          232 views.

2016_0120_SSS-offline2

OFFLINE. SSS members wait patiently as some machines are offline at the main office of the Social Security System in Quezon city.

smileredunhappyThe government is just so unwilling to hike pension benefits of Social Security System pensioners but is all out and willing to allot big bucks to Public Private Partnership:

P-Noy government agreed to shoulder P34.9 billion or 54% of the total project cost of the LRT1 PPP deal with Ayala-Pangilinan consortium

Ayala-Pangilinan Group enjoys real property tax exemptions reportedly costing P64 billion

Budget approved for 2016 contain P30 billion risk management program to protect private profits

Research group Ibon is pointing fingers to the Aquino administration and its minions that the government is unwilling to hike pension of SSS beneficiaries yet allout for the allotment of big bucks to its public private partnership programs (PPP).

In its latest story, Ibon criticized the Aquino government for its continuous defense of the President’s veto of the proposed Social Security System (SSS) pension hike. Its refusal to increase support for ordinary pensioners while institutionalizing the allocation of public funds to guarantee corporate profits bares the Aquino government’s bias for business on top of people’s welfare, the group said.

Malacanang and the SSS argued that granting the pension hike amounting to P56 billion would prematurely deplete SSS funds. According to the hike’s proponents, however, improving collection efficiency, more prudent spending and suspension of executives’ tall bonuses are only among the many ways to solve government’s stated predicament.

Advocates also revealed that there are SSS reserve funds amounting to more than P420 billion that can more than cover the hike.

Read more here: Ibon

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