Approving the Continuous Application of the Manner of Computing EC Pension in Relation to the New MSC Schedule under the Social Security Act of 2018

August 29, 2019ECC BOARD RESOLUTION NO. 19-08-27APPROVING THE CONTINUOUS APPLICATION OF THE MANNER OF COMPUTING EC PENSION IN RELATION TO THE NEW MSC SCHEDULE UNDER THE SOCIAL SECURITY ACT OF 2018Excerpts from the Minutes of the Third (3rd) Regular Commission Meeting, Employees' Compensation Commission and Occupational Safety and Health Center, Series of 2019, ECC Multi-purpose Hall, 4th Floor, ECC Building, 355 Gil Puyat Ave., Makati City, Thursday, 29 August 2019 at 12:00 N.N.WHEREAS, Republic Act 11199 also known as the Social Security Act of 2018 was signed on 7 February 2019, repealing RA 1161, as amended by RA 8282;WHEREAS, the same Law effectively increased the minimum and maximum Monthly Salary Credit (MSC) schedule for SSS members depending on the type of membership, effective April 2019 and in subsequent dates as detailed in SSS Circular Nos. 2019-05 to 07 dated 15 March 2019 on New Schedules of Social Security Contributions effective April 2019;WHEREAS, the monthly salary credit is a major factor in the computation of EC pension;WHEREAS, ECC issued Board Resolution No. 15-06-30 dated 23 June...