However, it also highlights some of the changes to hike SSS contributions and train fares.
"We believe that it is time to amend the SSS Pension Scheme. We must establish measures that remedy the outflow of funds. If we add 0.6 percent to the contribution rate, it will immediately deduct P141 billion from the unfunded liability," Aquino said.
Pnoy said the need to reform pension scheme is necessary to avoid depletion of SSS funds in the next 28 years. He also explains that fare hikes in MRT and LRT will be implemented. The government subsidizes each passenger's fare by as much as P45 and said to be unfair to residents from Visayas and Mindanao who never set foot on the trains but fund the train operations.
But according to critics or analysts, President Aquino did not mention solid agenda on how he will lead us to his 'daang matuwid' campaign until 2016. Nancy Binay highlights that Pnoy didn't include on his speech ways to improve employment rate in the country.
Inspite of the gross domestic product (GDP) growth for 2012 and various economic reform programs of Aquino government for his three years in the Palace, Philippines is still has the worst unemployment rate in Asia. More than 11 million Filipinos are jobless according to SWS and IBON Foundation survey results on the first quarter of 2013.
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