A Palace official emphasized that the proposed increase in members' contributions to the Social Security System (SSS) was thoroughly studied based on actuarial considerations, despite calls to suspend it. Executive Secretary Lucas Bersamin stressed the importance of allowing the process to continue and produce the expected results.
A Palace official said that increases, such as the proposed hike on members' contribution to the Social Security System ( SSS ), were studied thoroughly based on actuarial considerations, amidst calls to suspend the proposed SSS contribution increase. Executive Secretary Lucas Bersamin said, 'We cannot be that arbitrary' over proposed increases that have gone through actuarial studies. He urged to let the process continue and produce results based on predictions.
'I want you to understand that these increases are studied well based on actuarial considerations. It is difficult to say no to the increase, we cannot be that arbitrary,' Bersamin said in a press briefing at Malacañang on Tuesday, January 7. 'We have to recognize that this SSS has a very respected actuary, they have studies about that. If you always meddle in their management of their affairs where they are very specialized, it will not work, it will not work. It may give a negative impact,' Bersamin added. The Executive Secretary underscored that the proposed increase on members' contribution has long been studied and announced even before calls to suspend it were made. 'So, let us just allow it, I think that call is maybe good for next year, if it ever will be reviewed,' he said. 'But right now, they have studied that long ago, they announced it long before that call was made, and in fact these benefits are being expanded now so why don't we just let that process continue and produce results that were projected by actuarial studies,' he added. The Palace official, however, said that if the issue will ever be brought to the President officially, they would consider it seriously
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