PRESCRIBING THE POLICY ON THE MINIMUM AMOUNT OF EC MONTHLY SURVIVORSHIP PENSION FOR THE PRIVATE SECTOR
(Pending upon approval of the President of the Republic of the Philippines)
WHEREAS, P,D. No. 626, as amended, provides that monthly income benefit shall be paid to an employee who contracts sickness or sustains an injury resulting in permanent partial or permanent total disability;
WHEREAS, the SSS has primary and initial jurisdiction on the settlement of EC claims in the private sector;
WHEREAS, since 1994, it has been the practice of the SSS to implement a two thousand pesos (P2,000.00) minimum amount of EC monthly survivorship pension;
WHEREAS, this Commission finds the need to clarify the minimum amount of EC monthly survivorship pension in the private sector;
WHEREAS, upon consultation of the Secretariat with the SSS, it was agreed upon that there must be corresponding instruction from the Commission, in the form of a Resolution, to continue the said practice;
WHEREAS, in a letter dated 16 September 2016, the ECC requested the SSS for an actuarial study regarding the viability of continuously Implementing the EC monthly survivorship pension of Php2000,00;
WHEREAS, on 02 December 2016. the SSS through a letter to ECC, confirmed that based on the results of its latest valuation of the EC Fund, providing a Php2,000.00 minimum monthly EC survivorship pension will still keep the life of the EC SIF in perpetuity;
WHEREAS, Art. 183, par. (e) of P.D, No. 626, as re-numbered, empowers this Commission to prescribe any increase in EC benefits subject to the conditions provided by law;
NOW THEREFORE, ON MOTION DULY MADE AND SECONDED;
This Commission RESOLVES AS IT HEREBY RESOLVED to prescribe that the minimum amount of EC monthly survivorship pension in the private sector shall in no case be less than two thousand pesos (P2,000.00);
RESOLVED FURTHER that the ECC Secretariat shall further review the minimum amount of EC survivorship pension for both private and public sector workers;
RESOLVES FINALLY, that a copy of this Resolution shall be transmitted to the Office of the President of the Republic of the Philippines for approval of the proposed increase in EC benefit and that upon the approval of the Office of the President, this Resolution and the corresponding Executive Order shall be published in a newspaper of general circulation and copy furnished to the SSS.
APPROVED in Makati City, this 9th day of February 2017.
(SGD.) CIRIACO A. LAGUNZAD
Department of Labor and Employment
(SGD.) BRENDA P. VIOLA
Social Security System
(SGD.) DIONISIO C. EBDANE, JR.
Government Service Insurance System
(SGD.) CARLITO P. ROBLE
(SGD.) RAMON F. ARISTOZA, JR.
Philippine Health Insurance Corporation
(SGD.) STELLA ZIPAGAN-BANAWIS
Employees’ Compensation Commission – Secretariat