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Senate bill seeks to suspend SSS contribution hike

A BILL seeking to suspend the scheduled increase in member contributions to the Social Security System (SSS) due to the pandemic has been filed in the Senate.

SSS contribution rate hike to offset pension increase, prolong fund life

THE HIKE in the Social Security System’s (SSS) contribution rate is meant to guard the fund’s long-term viability and to offset the increase in monthly pension implemented in 2017, the state-run pension fund said.

SSS reluctant to implement expanded pension proposal

THE Social Security System (SSS) said going ahead with a plan to expand benefits for retirees affected by the coronavirus disease 2019 (COVID-19) pandemic will likely erode the pension fund’s finances.

SSS, GSIS offering loans for victims of typhoons

THE SOCIAL SECURITY System (SSS) and Government Service Insurance System (GSIS) are extending loans to victims of typhoons Rolly and Ulysses, which affected many cities and provinces across the country.

SSS, GSIS, PhilHealth expected to run budget deficits this year

THE two state pension funds and the public health insurer are expected to incur budget deficits until at least 2021, according to the Department of Budget and Management (DBM).

SSS approves over P15 billion in calamity loans in June, July

THE Social Security System (SSS) said it approved P15.63 billion worth of calamity assistance loans during the pandemic as well as P190.2 million in unemployment insurance benefits (UIBs) as of July.

GOCC budgetary support remains elevated due to SSS wage subsidy program

BUDGETARY support to state-owned firms released in May rose nearly 467% after the release of the second tranche of the wage subsidy program, the Bureau of the Treasury said.

DBP, gov’t pension funds outline payment relief terms for loans, contributions

GOVERNMENT financial institutions allowed their borrowers to defer loan payments without penalty as a form of relief during the coronavirus disease 2019 (COVID-19) crisis. In...

SSS, GSIS directed to prop up PSE with more equities purchases

FINANCE Secretary Carlos G. Dominguez III said Friday that the state pension funds need to double their regular equities purchases to help prop up the stock market after sharp losses triggered trading halts Thursday.

Unemployment benefits ready for SSS members

STATE-RUN Social Security System (SSS) has P1.2 billion in unemployment benefits ready for members who will be laid off by companies affected by the spread of the coronavirus disease 2019 (COVID-19), which is projected to result in 30,000 to 60,000 job losses if the pandemic lasts until June.

SSS taps PayMaya for digital payments

PAYMAYA Philippines, Inc. is partnering with the Social Security System (SSS) to offer its digital payment solutions to SSS members.

SSS wants to cover more informal sector workers

THE state-run Social Security System (SSS) wants to include workers in the informal sector in its pension coverage as part of a plan to improve the system.

SSS discontinues benefits disbursal by check

THE Social Security System (SSS) said Friday that it will no longer use checks to disburse benefits and will release payouts through accredited banks.

SSS targets increased digital transactions

STATE-RUN Social Security System (SSS) is targeting a threefold increase in online transactions by next year to streamline services and save on operating expenses.

SSS salary loan releases reach P19.01B in 1st half

THE SOCIAL Security System (SSS) released some P19.01 billion in salary loans in the first six months, up 8.4% year-on-year.

SSS benefit, pension disbursements rise

THE SOCIAL Security System (SSS) has released benefits and pensions worth P95.71 billion in the first six months to its 3.19 million members, with the bulk going to retirement funds.

SSS digitizing processes, services

STATE-RUN Social Security System (SSS) said it is in the process of digitizing its processes to improve transactions after President Rodrigo R. Duterte in his State of the Nation Address included the pension fund in agencies that need improvement.

SSS-Davao warns over 3,200 delinquent employers

THE SOCIAL Security System’s (SSS) Davao Region office has called on delinquent employers to settle accounts or face charges.

SC affirms validity of SSS premium hike

THE SUPREME Court (SC) has declared valid the premium hike in members’ contributions implemented by the Social Security System (SSS) in 2013.

SSS to conduct survey to plug coverage gaps

THE POLICY-MAKING BODY of the Social Security System (SSS) is set to conduct a nationwide survey to plug coverage gaps and improve social protection.

SSS expects to recover more than half of contribution collectibles

THE Social Security System (SSS) said it may only be able to recover more than half of the expected collectibles from the agency’s condonation program, noting that out of over 132,000 established delinquent employers, only 16,460 of them have availed of the amnesty program in the first three months of the implementation.

SSS looking to hire more fund managers for IRF

LOCAL managers for the remaining P2 billion of the Social Security System’s (SSS) investment reserve fund (IRF) may be tapped as early as end-June, the pension fund’s chief said on Wednesday.

SSS condones P9.5B in penalties under LRP

THE SOCIAL SECURITY System (SSS) condoned P9.5 billion in short-term penalties of calamity-affected members under the second round of its loan restructuring program (LRP).

SSS salary loans increase in 2018

THE SOCIAL Security System (SSS) disbursed more than P30.5 billion in salary loans in 2018, as it saw a jump in releases through electronic means.

SSS loan releases increase

THE Social Security System (SSS) saw a pickup in loan releases for retiree pensioners following the relaxed rules approved by the Social Security Commission.

SSS aims to collect P13 billion from OFWs’ mandatory contributions

THE SOCIAL SECURITY System (SSS) expects to collect P13 billion during the first two years of the implementation of the mandatory contributions from overseas Filipino workers (OFW).

SSS to raise contribution rates by the 2nd quarter

THE SOCIAL SECURITY System (SSS) is set to raise contribution rates starting next quarter after its amended charter was signed by President Rodrigo R. Duterte.

GSIS recommends to Duterte P1,000 hike in month pensions

THE Government Service Insurance System (GSIS) has recommended a P1,000 increase in the monthly pensions paid to retirees, it announced Friday.

Dooc resigns as amended SSS charter takes effect

SOCIAL SECURITY System (SSS) President and Chief Executive Officer Emmanuel F. Dooc tendered his resignation on Tuesday following the effectivity of the pension fund’s amended charter.

SSS targets to implement hike in contribution rate within first half

THE CONTRIBUTION RATE increase of the Social Security System (SSS) is expected to be implemented within the first half of the year once the implementing rules and regulations (IRR) of the pension fund’s newly amended charter are finalized.

SSS to invest overseas as it diversifies asset base

THE SOCIAL Security System (SSS) is eyeing to finally invest overseas as its new charter allows a bigger chunk of its reserve funds to be parked in foreign-currency securities.

SSS opens calamity assistance window for typhoon Usman victims

MEMBERS OF the Social Security System (SSS) who were affected by typhoon Usman that struck the country at the end of 2018 can now apply for a calamity assistance loan.

SSS releases P443M worth of EC benefit

THE Social Security System (SSS) reported yesterday that P442.38 million worth of benefits was disbursed to over 17,619 Employees Compensation (EC) pensioners from Jan. 2017 to Oct. 2018, following President Rodrigo R. Duterte’s approval of the EC benefit increase last May.

SSS tweaks contribution deadlines

THE DEADLINE for the payment of monthly pension contributions is now scheduled at the end of the month after the payable period, the Social Security System (SSS) said, as the fund adjusts to the payment reference number (PRN) system.

Bill fortifying SSC, SSS approved at bicam level

THE BILL allowing the Social Security Commission (SSC) to raise pension contributions starting next year hurdled the bicameral conference committee on Tuesday, with Congress fully adopting the Senate’s version.

Senate OKs bill strengthening SSS

THE SENATE on Monday passed on third and final reading the bill seeking to rationalize and expand the powers of the Social Security Commission (SSC), the governing board of the Social Security System (SSS).

SSS opens calamity loan fund for Ompong-hit areas

THE SOCIAL Security System (SSS) announced yesterday that it has allocated P1.61 billion for the calamity assistance program (CAP) for more than a million of its active members and pensioners who were affected by the typhoon Mangkhut (local name: Ompong) last month.

SSS pension loan availments hit over P100M

AVAILMENTS under the pension loan program of the Social Security System (SSS) reached over P100 million during the first month of implementation, the state-run firm said on Friday.

SSS extends loan relief for members in calamity areas

THE Social Security System (SSS) said Friday that it has extended its Loan Restructuring Program (LRP) with penalties condoned for another six months, to provide relief to members living in areas affected by recent calamities.

Maternity leave bill seen to deplete SSS’ finances

THE MEASURE seeking to extend paid maternity leave will have a “serious implication” on the Social Security System’s (SSS) finances, a top official said while urging the government anew to hike its contribution rate.

SSS cites ‘serious implication’ of extended paid maternity leave

The Social Security System (SSS) said the measure seeking to extend paid maternity leave will have a "serious implication" to its finances, a top...

SSS rolls out loan facility for retirees

THE SOCIAL Security System (SSS) on Monday launched the Pension Loan Program (PLP), allowing 1.3 million retiree pensioners to borrow funds.

SSS launches loan program for pensioners

The Social Security System (SSS) on Monday launched the Pension Loan Program (PLP), allowing 1.3 million retiree pensioners to borrow funds. In an event in...

SSS contributions likely rose close to 13% at end-June

THE SOCIAL Security System (SSS) said its contribution collections likely grew by double digits in the first semester.

SSS reports earning P1.31 billion from loan restructuring program

The Social Security System (SSS) earned P1.31 billion from the three months of implementation of the loan restructuring program (LRP). In a statement Wednesday, July...