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Ako Bicol partylist urges Congress to OK bills that seek to improve retirement benefits

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Ako Bicol Party-list has asked Congress to immediately approve three bills that seek to improve the plight of retirees.

The House Committee on Government Enterprises has already approved House Bill 86 of Rep. Alfredo Garbin last Monday. The said bill proposes optional early retirement at 56 years old for all government employees.

“HB 82 seeks to update the computation of basic monthly pension and to give retirees more say in the Government Service Insurance System (GSIS),” the partylist said.

“Whereas basic monthly pension was previously computed as just a fraction of a government employee’s average monthly compensation at the time of retirement, House Bill 82 moves to have the basic monthly pension equal to the latest gross monthly compensation of the covered employee,” it added.

Garbin said that theses public employees spent the best years of their lives serving the government and the public.

“They deserve to be given dignity at work for services rendered during their productive years.”

Meanwhile, House Bill 83 is for SSS pensioners and proposes to increase the minimum monthly pension of SSS beneficiaries from P1,200 to P3,200 for members with at least 10 years of accredited service, and from P2,400 to P4,400 for members with 20 years of service.

“There is a need to ensure that the benefits given to covered employees are abreast with current financial realities,” Garbin said.