State-run Social Security System (SSS) is looking for “generous” partners that are willing to subsidize the monthly contributions of workers in the informal economy and overseas Filipino workers (OFWs).
Michael G. Regino, SSS president and chief executive officer, said the pension fund wants to partner with potential contribution subsidy providers who are generous enough to shoulder the contribution payments of chosen SSS members for at least six months.
Regino said this out-of-the-box approach is their way of helping self-employed, land-based OFWs, or voluntary members who are having a hard time paying their social security contributions.
SSS has been reaching out and encouraging them to continue paying their monthly contributions. “However, the pension fund fully understands that it is challenging to pay their SSS contributions regularly because of intermittent income and varied work arrangements.”
“We want to provide SSS coverage to workers in the informal sector and land-based OFWs. These workers have the lowest social security coverage in our workforce, and they are among the most vulnerable sector in times of contingencies,” Regino said in a statement.
Called contribution subsidy provider program (CSPP), this SSS initiative is open to private and government individuals or groups, Regino said.
“They could become a coverage and collection partner of the SSS through an online Certification with Undertaking or a Memorandum of Agreement (MOA),” Regino said.
For convenience, contribution subsidy providers can pay the SSS contribution subsidies in any SSS branch with tellering facilities or through an SSS-accredited collection partner.
As an example, government agencies can subsidize the contributions of their job order workers since they are not covered by the Government Service Insurance System (GSIS).
Regino added that private institutions or multinational companies, as part of their corporate social responsibility, can shoulder the SSS contributions of self-employed informal sector workers or land-based OFWs who lost their jobs due to the pandemic.
“Subsidizing their SSS contributions is the greatest gift that we can give to a fellow Filipino. It will allow him to gain access to social security benefits which will serve as a cushion that they can rely on in times of emergencies and various contingencies,” Regino concluded.