I AM a pensioner of the Social Security System (SSS). My monthly pension of almost P20,000 goes to my maintenance medicines, rent, utilities and food. That’s not enough to cover everything, of course. That is why I took work as a teacher of communications and creative writing at the University of the Philippines in Cebu. My pay as a special reports writer and columnist of The Manila Times, as well as my royalties from Penguin and the local textbooks, all go to my retirement fund.
That is why the early rollout of the second tranche of the Pension Reform Program (PRP) to 4.1 million pensioners makes my heart glad. The early rollout advances the originally scheduled September pension increase to provide SSS pensioners with earlier financial relief.
Finance Secretary and Social Security Commission Chairman Frederick Go, and SSS Resident and Chief Executive Officer Robert Joseph de Claro said the agency is releasing approximately P6 billion in additional pension benefits from June to August 2026 to help pensioners cope with inflationary pressures and higher energy costs.
“We are releasing the second tranche of pension increases ahead of schedule to support millions of pensioners and their families, helping them meet their daily needs and enjoy greater financial security sooner,” Go said.
“With the early implementation, we hope to provide timely relief to our pensioners and their families as they continue to face every day financial challenges,” de Claro said. He explained that SSS pensioners as of May 31, 2026, will be eligible to receive the pension hike beginning June 1, 2026, while those whose contingencies fall between June 1 and Aug. 31, 2026, will receive their increased pension starting Sept. 1, 2026.
Under the second tranche of the PRP, retirement and disability pensioners will receive a 10-percent increase in their monthly pensions, while death and survivor pensioners will receive a 5-percent increase.
“We recognize that rising prices and economic uncertainty continue to place pressure on Filipino families and businesses,” de Claro added. “Through the PRP, SSS ensures that our pensioners have access to timely, affordable and reliable financial support when they need it most.”
The PRP is the first-ever multiyear pension increase in SSS history. Under the program, pensioners will receive annual increases in their pensions every September from 2025 to 2027.
Ease of doing business
That is on the senior citizens’ front. The Department of Finance (DOF) is also on a roll to help in the ease of doing business in a country notorious for the turtle’s pace of everything it does.
The DOF, together with the Department of the Interior and Local Government, and the Department of Trade and Industry, also issued Joint Memorandum Circular (JMC) 01-2026. Its full title is the Guidelines on the Imposition of Local Taxes, Fees and Charges on Registered Business Enterprises (RBEs) Availing of Tax Incentives Under Republic Act 12066. The aim is to clarify and standardize the application of local taxes on RBEs nationwide.
The JMC, which took effect on March 30, 2026, addresses ambiguities arising from varying interpretations and implementation of the Create and Create More Acts, particularly with respect to transitioning RBEs. It provides businesses, local government units (LGUs) and investment promotion agencies (IPAs) with a clearer and more uniform framework for local tax administration to promote ease of doing business, encourage compliance and strengthen investor confidence.
The JMC clarifies that the Registered Business Enterprise Local Tax (RBELT) applies to RBEs availing of income tax holiday or enhanced deductions regime in economic zones, including expansion areas, under the Create More Act. It also provides that IPAs may enter into a memorandum of agreement with LGUs to facilitate the collection, sharing and remittance of RBELT.
In addition, the JMC provides that the RBELT, which shall not exceed 2 percent of the gross income of the RBE’s registered project or activity, shall be in lieu of all local taxes, fees and charges, including local business taxes and real property taxes. Once an LGU imposes the RBELT through an ordinance, it may no longer separately impose taxes outside the RBELT framework.
The guidelines further clarify that when an IPA owns the land but grants beneficial use to an RBE, the RBE shall be considered the taxable person and may be liable for real property taxes and other applicable local taxes, including the RBELT.
To support implementation, the Fiscal Incentives Review Board secretariat conducted nationwide town hall meetings on May 5, 12 and 14, 2026, to brief stakeholders on the application of the RBELT.
“Our goal is to translate policy into practice — ensuring that reforms are delivered, translated and felt by our investors. The Create More Act was designed to make the Philippines a more competitive and investment-friendly destination. Our responsibility now is to ensure that its provisions are implemented clearly, consistently and effectively. Through clear guidance and coordinated implementation, we are making compliance easier, providing greater predictability and encouraging more investments into the country,” Go said.
Secretary Go was our honors student in management engineering, the toughest college course at the Ateneo de Manila University when I was teaching there full-time 20 years ago. He has fulfilled the promise of his early youth by venturing into the family business and now, being at the helm of the DOF.
He is standardizing procedures, clearing the paperwork, easing the bottlenecks and saying “no” to questionable practices and projects. He brings a breath of fresh air to the otherwise stodgy halls of government economics and finance.
