Tag Archives: Social Security

President Aquino: I Lied When I Said Philippines Is No Longer ‘The Sick Man Of Asia’

imageMANILA, Philippines (The Adobo Chronicles) – Throughout his almost six years in office, President NoyNoy Aquino has been touting the economic accomplishments of his administration and has constantly proclaimed that the Philippines is no longer “The Sick Man of Asia.” Rather, he says, it is  “The New Darling of Asia.”

Today, Aquino admitted that he had lied to the Filipino people.

Aquino’s admission came in the wake of intense criticism regarding his veto of a new law that would increase social security pensions to Filipinos by P2,000.  The current maximum monthly retirement benefits for those who have worked for at least 20 years is P2,400 (in US Dollar equivalent, that’s about $51).

Aquino said the proposed increase would result in a negative income for the Social Security System (SSS), adding that the passage of the bill would force the agency to use the Investment Reserve Fund (IRF) to fund the pension increase. He said this would result in the IRF reaching zero by 2029.

“I apologize for misleading my bosses (the Filipinos).  My intention was merely to make my administration look good, especially in the eyes of foreign investors.  I hope you can all forgive me,” Aquino said.

To show to the people that he is heartfelt with his apology, he promised to waive his P8,000 monthly pension for life as a former president.  Aquino’s 6-year-term ends in June after his successor is elected in the presidential elections this May.


Photo credit: tampabay.com
Photo credit: tampabay.com

WASHINGTON, D.C. (The Adobo Chronicles) – For many decades, Japan has topped the list of countries with the highest life expectancy among the population, with an average of 84 years. The worldwide average is 71 years (68 for males and 73 for females).  The United States’ life expectancy has been known to average at  79.

But official records at the U.S. Social Security Administration show that life expectancy among Americans has been grossly miscalculated.

A recent review found that at least 6.5 million active Social Security numbers belong to people who are at least 112 years old, according to a report by The Washington Post. Thousands of workers over the age of 100 applied for employment verification through the U.S. government in recent years, the report added.

Previously, it has been estimated that less than half a million people worldwide are centenarians, or people still living at the age of 100 and above.

Population experts surmise that the the significant rise in American life expectancy could be due to a better and  more modern health care system,  increased calorie consciousness among the population (resulting from dietary labels on food packages as required by law), and the growing popularity of Zumba dance exercise among senior citizens.

Can we propose a toast of red wine to longer life for all?