We commend the President’s refusal to let electoral politics get in the way of our responsibility to the Filipino people. The proposed measure would have pushed the SSS into a fiscal cliff of insolvency. For example, the increased pay-outs would have shortened the actuarial life of the Social Security Fund from the year 2042 to 2027. It would also have doubled the unfunded liability from P1.2 trillion to P2.4 trillion.
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