BENEFITS FOR WORKERS. Social Security System (SSS) vice president for North Luzon 1 Ceasar Saludo on Friday (Jan. 15, 2021) shows the form that members need to fill up to be included in the system and avail of the benefits that the government-owned social security system gives to private employees. He said the SSS in Northern Luzon has provided unemployment assistance to 6,000 workers who were displaced by the Covid-19 pandemic. (PNA photo by Liza T. Agoot)
BAGUIO CITY – The Social Security System (SSS) in Northern Luzon on Friday said it has provided unemployment assistance to over 6,000 workers affected by the coronavirus disease 2019 (Covid-19)
In a briefing, Ceasar Saludo, SSS vice president for Luzon North 1 (NL1) Division, said the workers received an additional benefit of PHP6,000 each as provided for under Republic Act (RA) 11199 or the Social Security Modernization Act.
“This is an additional benefit. The passage of the law in 2018 was timely as its existence benefited thousands who lost their jobs due to Covid-19," he said.
The NL1 division covers the SSS offices located in Baguio City; Bangued, Abra; Bontoc, Mountain Province; Agoo, La Union; San Fernando City, La Union; Vigan City, Ilocos Sur; Candon City, Ilocos Sur; La Trinidad, Benguet, and Laoag City, Ilocos Norte.
Saludo said that many have availed of the unemployment benefits "because of the closures”.
He added that 1,906 of those who received the benefit are workers registered with SSS Baguio Branch.
The branch covers Baguio City and the towns of Sablan, Tuba, and Itogon in Benguet. Saludo said the area has registered 640,000 members with 220,000 actively paying their membership.
Saludo said SSS provides several benefits to members which come from their contribution and the income derived from the investments of the system using the accumulated fund of the members.
The SSS-NL 1 logged a 9.8-percent drop in collection for 2020 which is equivalent to PHP738 million as a result of the closure of many businesses, he said.
Despite this, he said the agency was still able to provide benefits to the members.
"There is a need to implement the increase in members contribution," he said.
He pointed out that the increase in benefits of the members, as well as the increase in pension of the pensioners, cuts shorter the SSS's actuarial life.
To prevent this from happening, Saludo said there is a need to increase members' contribution to ensure the stability of the fund. (PNA)
