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SSS pensioners to receive 13th month bonus starting November 29

by UNTV News and Rescue   |   Posted on Monday, November 26th, 2018

MANILA, Philippines – Pensioners of the Social Security System (SSS) will have an early holiday treat as the agency announced the release of 13th month bonus beginning Thursday (November 29).

The SSS has allotted P22 billion to fund the bonuses of over two million of its pensioners.

Despite the controversies, the SSS assures its members that the state insurance is financially stable. – UNTV News & Rescue

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New SSS Charter promises expanded benefits for members, OFWs

by UNTV News and Rescue   |   Posted on Tuesday, October 9th, 2018

 

SSS building facade | Photo via SSS Guides website

PASAY CITY, Philippines – The Bicameral Conference Committee has finalized on Tuesday (October 9) the proposed law that would change the 21-year-old charter of the Social Security System (SSS).

The new charter will provide compulsory coverage to overseas Filipino workers (OFW).

Like with ordinary employees, employers will also shoulder a portion of OFW contributions.

The new charter will also increase its loan allotment such as salary loan as well as retirement benefits.

“Ngayon makakautang pa sila ng mas malaki for salary up to 25% na ngayon,at ang housing loan 5%,” said Senator Richard Gordon, the bill’s author and sponsor.

Gordon said the current P16,000 salary loan will likely to increase to P35,000.

The measure will also lower the penalty for overdue contributions from 3% to 2%.

It also promises unemployment insurance.

Employees who will lose their jobs will get financial assistance for two months amounting to half of their monthly salary.

The SSS will be headed by the Secretary of the Finance who will act as its chairman.

Presidential appointees should pass qualifications to get the position and not because of political accommodations.

Increase in monthly contributions rests on the discretion of the Board of Directors and will not require the approval of the President or an endorsement from Congress.

“The commission members have a term and they have the right to approve whatever increase in benefits,” said Senator Franklin Drilon.

The reforms will also give a chance for inactive members to renew their membership.

“As long as you are a member you can resume paying your contribution and become active member again so you can get the full benefit from the system,” explained SSS Vice Chairman Emmanuel Dooc.

The measure awaits President Rodrigo Duterte’s signature before officially becoming a law.

Before the end of the year, the President is expected to approve the bill. – Nel Maribojoc / Marje Pelayo

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SSS reminds typhoon-affected members of deadline for loan restructuring in October

by UNTV News and Rescue   |   Posted on Wednesday, June 20th, 2018

 

TACLOBAN CITY, Philippines – State insurance Social Security System (SSS) reminds members who are among typhoon-affected residents in Tacloban City to avail of the calamity loan restructuring because the program is terminating in October this year.

SSS Tacloban Officer-In-Charge Dr. Lilibeth Cajucom said the restructuring is intended for members who availed calamity loan but are unable to pay their dues.

SSS opened the calamity loan program for victims of typhoons Yolanda, Ruby and Urduja.

“Ang maco-condone ay iyong penalty but they still have to pay for the principal and the interest and they can pay in installment,” explained Cajucom.

Cajucom added that delinquent accounts will have a maximum of five years repayment period depending on the principal amount and interest. She appealed to members to pay their loans accordingly and not to ignore their obligations with the agency.

“Lalaki nang lalaki lang ang interest plus penalty. Ang pag-collect niyan naman ay kapag mag-apply ka na for final claim, death or total disability…So kung ang claim mo ay lump sum lang tapos possible na magsobra pa ang babayaran mo, hahabulin ka pa talaga,” Cajucom warned.

Applicants are advised to bring complete documents such as ID, fully accomplished application form that can be downloaded from the SSS website. – Archyl Egano / Marje Pelayo

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