The House of Representatives is set to approve a joint resolution that would increase the monthly pension of Social Security System (SSS) members by P2,000 before Congress goes on holiday break next week, a lawmaker said.

The House approval of the joint resolution next week was agreed upon during the caucus of the super majority last Wednesday, House Committee on Government Enterprises and Privatization Chairman Rep. Jesus Sacdalan said.

Under the unnumbered joint resolution, "the P2,000 shall be given in two tranches: The first tranche amounting to P1,000 shall be given starting December 2016; while the second tranche amounting to P1,000 shall be to be extended to the pensioners in December 2019."

The unnumbered Joint Resolution approved on committee level last week mandates the SSS to come up with "a sound viable tax-exempt social security system" as "the amount of monthly pension that the SSS pensioners receive is no longer adequate to support even their basic needs."

"Without appropriate and immediate intervention, the SSS would fail in its role to provide basic economic security for the people, curb poverty, provide economic stability, redistribute income and preserve important social and individual values," the Joint Resolution read.

The House and Senate opted to pass a joint resolution instead of a bill "to ensure speedy approval and implementation of the SSS pension hike proposal," Sacdalan said.

"The approval and implementation of the SSS pension hike might face delay if what we will pursue is the bill," he added.

As of January 2016, there are about 33 million SSS members, and at least two million retirees are expected to receive pensions upon retirement.