Tag: SSS

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.

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.

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.

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.

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).

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.

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.

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...

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.

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.

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

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.

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

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.

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

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.

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.

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

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

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.

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.

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.

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).

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.

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

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).

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.

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

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.

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.

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.

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.

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.

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.

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.

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).

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.

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.

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.

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.

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

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

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...

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

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...