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SSS to launch 2 new programs to benefit informal economy workers, individually-paying members
SSS to launch 2 new programs to benefit informal economy workers, individually-paying members
The Social Security System (SSS) announced its two new programs, the flexible payment schedule and the Contribution Subsidy Provider Program (CSPP), which will benefit the informal economy workers and other individually-paying members.
In a statement released on Thursday, June 30, SSS President and Chief Executive Officer Michael G. Regino said that these programs will help "ensure the social security protection" of the said beneficiaries.
These are set to be launched in July.
The flexible payment schedule or planned payment schedule is set to provide a longer payment window for the said members.
Under this program, the contributions of any of the last 12 applicable months may still be paid in the current month to avoid missing applicable months that may qualify them for SSS benefits and loans.
“Considering that crops and fishery products have their harvest seasons, we are looking to implement a more workable payment schedule for farmers, fishermen, and other self-employed persons in the informal economy. We recognize the unique situation of our informal economy workers and we are coming up with the appropriate payment program to make SSS more inclusive to as many fellow Filipinos,” Regino said.
Meanwhile, under the CSPP, the SSS may enter into a partnership agreement with potential contribution subsidy providers, whether government or local entities, who will pay contributions on behalf of selected self-employed workers, land-based overseas Filipino workers, and voluntary members of the SSS.
"The minimum period of subsidy under the CSPP is six consecutive calendar applicable months," said the statement.
“Filipino workers need social security institutions such as the SSS to provide them and their families with a layer of protection against the hazards of disability, sickness, maternity, old age, death, and other contingencies resulting in loss of income. We hope that through these two programs, we may be able to extend our benefit and loan programs to those in the informal economy, gig economies, and last-mile communities,” Regino added. (Luisa Cabato)