Conduct by SSS of Actuarial Studies for Upgrade of Pension Benefits for Retirees
Letter of Instructions No. 1321, issued on May 1, 1983, directs the Social Security System (SSS) to conduct actuarial studies aimed at upgrading pension benefits for retirees under the Social Security Law (Rep. Act No. 1161, as amended). The directive emphasizes the need to protect retirees from the adverse effects of global inflation on their pension benefits, which disproportionately affect them. Importantly, the upgrade in benefits should occur without increasing premium contributions from employers or employees. The SSS is required to submit a report on the findings of these studies within three months.
Law Information
- Reference Number
- Letter of Instructions No. 1321
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
May 1, 1983
LETTER OF INSTRUCTIONS NO. 1321
| SUBJECT | : | Directing the Social Security System to Conduct Actuarial Studies With a View to Upgrading Further Pension Benefits for Retirees |
| TO | : | The Administrator |
| Social Security System |
Recognizing the need to protect the pension benefits of retirees covered by the Social Security Law (Rep. Act. No. 1161, as amended) from the ill-effects of world-wide inflation considering that they are the most adversely affected thereby, you are hereby directed to conduct actuarial studies with a view to upgrading substantially the pensions benefits for retirees, without any increase in premium contributions from covered employers and employees.
You shall submit to me the report of your studies within three (3) months from the date of this issuance.
Done in the City of Manila, this 1st day of May, in the year of Our Lord, Nineteen Hundred and Eighty-Three.
Cite This Law
Conduct by SSS of Actuarial Studies for Upgrade of Pension Benefits for Retirees, Letter of Instructions No. 1321, May 1, 1983 (Philippines)
Conduct by SSS of Actuarial Studies for Upgrade of Pension Benefits for Retirees, Letter of Instructions No. 1321 (Phil. 1983)
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