Articles worth reading

Bill promoting media workers' rights gets committee endorsement

account_balanceMetro Manila access_time4 days ago

The House Committee on Labor and Employment on Monday approved a bill that seeks to promote and improve the social and economic well-being of media workers, including their living and working conditions, according to a report by Philippine News ...

President Ferdinand

Marcos visits New York Stock Exchange

account_balanceMetro Manila access_time4 days ago

President Ferdinand "Bongbong" Marcos Jr. addressed the New York Stock Exchange on Tuesday (PHT) with much optimism that the Philippines and United States will work to build a stronger economic relationship during his term, according to a r...

PNP reports zero death in anti-illegal drug operations

account_balanceMetro Manila access_time4 days ago

The Philippine National Police (PNP) has reported no death during anti-drug operations conducted in the first 17 days of this month, as part of the government's anti-illegal drug campaign under the administration of President Ferdinand "Bong...

Metro News

SSS observes 65th anniversary 

account_balanceMetro News account_circleRainier Eubra chat_bubble_outline0 Comments

The Social Security System (SSS) commemorates its 65th anniversary this September by launching six new programs to benefit its members.

SSS President and Chief Executive Officer Michael G. Regino said that the pension fund will be implementing these new innovative programs to ensure social security coverage for informal economy workers, help members save more for their retirement, and for employers and members to settle their contribution and loan delinquencies.

“We have reached another milestone in our history and there is no better way of celebrating this momentous occasion than showcasing new programs that will benefit our members and their beneficiaries. This strengthens our commitment in fulfilling our mandate of providing social security protection for the next 65 years and beyond,” Regino said.

Advertisement

SSS would offer a new contribution payment schedule for farmers, fishermen, and other self-employed individuals in the informal economy. It will allow them to pay contributions for any of the last twelve (12) months in the current month.

“Unlike ordinary workers, our farmers and fishermen do not have a regular monthly income from their produce. Their earnings coincide with the harvesting seasons. That’s why we crafted a separate contribution payment schedule for them aligned with their earnings,” he said.

Another program is the Contribution Subsidy Provider Program (CSPP) which promotes the spirit of Bayanihan by encouraging individuals and groups to subsidize the monthly contributions of SSS members.

Under this, any individual, group, or corporation willing and able to pay the SSS contributions of identified SSS members for at least six (6) months could become a contribution subsidy provider.

SSS will also launch the Consolidation of Past Due Short-Term Member Loans with Condonation of Penalty to help members pay their loan obligations with SSS.

“Under the program, members can settle their unpaid SSS loans less the penalties through one-time payment or flexible installment terms,” Regino said.

The SSS Chief explained that if members fail to meet the conditions based on the consolidated loan agreement, SSS will deduct the outstanding balance of the consolidated loan from the benefits they will receive in the future.

Likewise, SSS will implement two contribution penalty condonation programs for employers.

The Contribution Penalty Condonation Programs (CPCPs) aim to help business and household employers who have delinquencies in paying the contributions of their employees and household helpers or kasambahay.

Under these programs, delinquent employers can pay the unremitted contributions of their employees and kasambahay, less penalties, through one-time payment or installment term.

“We want to help the employers since they are our primary partners in implementing the Social Security law,” Regino said.

Later this year, SSS will launch a new voluntary provident fund program called the Workers’ Investment and Savings Program (WISP) Plus.

“We would also like to encourage our members to work, save, invest, and prosper for a happy retirement. Part of this campaign is to teach our members on how to save for their retirement through this new voluntary provident fund program,” Regino shared.

Members could contribute for as low as P500 per payment and upon their retirement, they will receive their WISP Plus accumulated value aside from the regular SSS and WISP pensions.

“These programs are proof that our members and their beneficiaries can rely on SSS and that we will seek new ways of serving them,” he added.

SSS celebrates its milestone anniversary through a series of month-long activities with the theme, “SSS@65: Kontribusyong Pinag-ipunan, Proteksyong Maaasahan.”


date_rangeDate Published
5 days ago
shareShare article
folder_openArticle tags
content_copyCategorized under

Share your thoughts with us

Related Articles

Maynilad announces water service interruption on Oct. 29 to Nov. 1

account_balanceMetro Manila chrome_reader_mode1 month ago

Maynilad Water Services, Inc. (Maynilad), a concessionaire in the West Zone, is advising its consumers to stockpile water in anticipation of the service interruption from October 29 to November 1. Maynilad said it has to implement the water service ...

Navotas observes International Coastal Cleanup Day

account_balanceNavotas chrome_reader_mode5 days ago

In celebration of the International Coastal Cleanup Day 2022, Navotas held simultaneous clean-up drives in Barangays Bagumbayan North, Tangos North and Tangos South, and Tanza Marine Tree Park. More than 150 individuals participated in the event, in...

Rain expected across Luzon 

account_balanceMetro Manila chrome_reader_mode5 days ago

Most areas in Luzon will experience rains caused by the southwest monsoon, the weather bureau said in a report by Philippine News Agency. Scattered rain showers and thunderstorms will prevail over Metro Manila, the provinces of Zambales, Bataan, Cav...

EcoWaster asks LGUs to ban plastic balisongs, other injurious toys 

account_balanceMetro Manila chrome_reader_mode5 days ago

Alarmed by the unchecked sale of plastic balisongs and other toy weapons with sharp edges and points, the EcoWaste Coalition is urging local government units (LGUs) to enact necessary ordinances to protect young children from harm. “We appeal ...

Let's Stay Connected Like us on our Facebook page.
×
Click on the article to continue reading
Quezon City adopts no contact apprehension system Red Cross pushes saliva test Vaccines from COVAX to arrive in Q1 Makati Shangri-La to close doors on Feb. 1 Cities in NCR to start vaccination simultaneously Mother, girlfriend of Filipino infected with UK variant also test positive Send Press Release MNC Facebook Page MNC Twitter Page MNC Instagram Page LGU Spotlight Barangay Front Business Sports Entertainment Metro Gen Metro Feature