CARSON CITY, CA–What President Aquino did to the planned pension hike of Social Security System retirees was a violent mindless exercise of power against the powerless–the suffering, ailing, starving senior citizens who also contributed to the SSS pension fund during their time.
Some of these people are now in their 70s, 80s. They who receive as low as P1,2000 a month would not live long. Aquino was heartless–he said the word himself when he justified his rejection of the measly increase.This scion of oligarchs chose to be kind to the 31 million projected member-pensioners in 2042 or earlier.
Or did his economic advisers apply the wrong algorithm or did they simply follow the equation and calculus and extrapolation, but came out with the wrong figures? How about other variables like deaths of present members or quitting the system because of migration or going into business?
He swallowed the advice hook, line, and sinker of the old crop of SSS managers who will also retire in time, not as SSS but GSIS members, and given their gargantuan salaries will receive mind-boggling pensions. These people he appointed to the lucrative posts–it was them who were actually depleting the fund by giving themselves P1-M in bonuses and allowances. Peter la Julian/Northbound Philippines News