Three SSS Updates that you need to read

Three SSS Updates that you need to read

“Money does not buy you happiness, but lack of money certainly buys you misery.”

-Daniel Kahneman-

Mandatory Use of SSS Payment Reference Number

This photo was taken from: Facebook: Philippine Social Security System – SSS

The date for using a payment reference number (PRN) for short-term loan payments has been pushed back from April 1 to May 1. The one-month extension was approved by SSS management to give members and employers more time to create their My.SSS accounts, update contact details and check their loan confirmation, according to SSS President and CEO Aurora C. Ignacio.

“We wanted to make sure that our stakeholders are ready to comply with our upcoming procedural and system changes so that they can also benefit from this program and realize its importance,” Ignacio stated.

Individual members and employers can use the system-generated PRN to facilitate the immediate and accurate posting of loan payments on their corresponding records under the Real-Time Processing of Loans (RTPL). Salary, calamity, emergency, and restructured loans are all covered under the RTPL implementation.

“Individual members and employers can either print out a coy or capture a screenshot of the PRN Loans Statement of Account with the corresponding barcode, accessed through the “RTPL PRN” module of their My.SSS accounts are found on the SSS website. They may also present the SMS received from SSS indicating the PRN for loan payment.” Ignacio added.

Payees can bring their PRN to any SSS branch that uses the Automated Tellering System (ATS) or any RTPL-compliant collecting partner.

“This is to reiterate that starting May 01, RTPL-compliant SSS collecting partners will only accept loan payments with PRN to avoid possible system errors. Members and employers will receive a notification through e-mail or SMS confirming their loan payment and successful posting.” Ignacio concluded.

 

SSS releases P10.49B in maternity benefits in 2020

This photo was taken from: Facebook: Philippine Social Security System – SSS

 

In 2020, the Social Security System (SSS) released P10.49 billion to 290,000 female members as part of its maternity benefits package, almost double the amount paid by the state pension fund in 2016.

According to preliminary data, the sharpest increase in benefit releases occurred in 2019, when an additional P3.35 billion in maternity disbursements were registered following the introduction of R.A. 11210 (105-day Expanded Maternity Leave Law), according to SSS President and CEO Ignacio.

“Since the allowed maternity leave was extended up to 105 days, it is expected that the benefit releases will also dramatically increase. Based on our data, the average annual disbursements in 2016 or three years before implementing the law is at P6.16 billion. Now that it has been implemented since March 11, 2019, the average annual release is now pegged at P10.45 billion,” Ignacio stated.

However, the SSS Chief noted a slight decrease in the total number of beneficiaries last year, attributing this to quarantine restrictions imposed by the government since March 2020 to stem the COVID-19 infection.

“Since the community quarantine affected the transacting public wanting to visit government offices and the fact that pregnant women are considered high-risk individuals during this pandemic, pregnant and even lactating mothers who are SSS members chose to stay at home and postponed their appointments. Hence, we expect a higher number of benefit applications this year,” Ignacio said.

“The maternity benefit provided by SSS gas a 10-year prescriptive period. Prior to the submission of their claims, it is an important requirement for our employed female members to notify their employer. For self-employed, voluntary, and OFW members, they should have at least personally notified SSS about their pregnancy,” Ignacio added.

Employers should send their employees’ Maternity Notifications through their My.SSS account. Self-employed, voluntary, and OFW members can use the My.SSS feature on the SSS website or the SSS Mobile App to send their Maternity Notification.

Only female SSS members are eligible for the SSS Maternity Benefit, which is a cash allowance. She must have made at least three monthly contributions during the 12-month period preceding the semester of her childbirth, miscarriage, or emergency termination pregnancy to be eligible.

The 105-Day Expanded Maternity Leave Law extends the compensable number of days for maternity leave benefits from 60 days for a regular delivery or 78 days for a cesarian section delivery to 105 days for live childbirth, regardless of the method of delivery, plus an additional 15 days paid leave if the female worker identifies as a single parent.

In the event of a miscarriage or an emergency termination, the mother is entitled to 60 days of paid maternity leave. The law also gave women more protection by extending the permitted maternity leave for pregnancy, miscarriage, or emergency termination to all women, regardless of the number of deliveries or miscarriages, up from the previous cap of just the first four deliveries or miscarriages.

“We understand the challenges faced by our female members since childbirth is one of the challenging experiences for a woman. SSS acknowledges our female members because of the significant role they play in our society, particularly in our labor industry. This is why we are trying our best to give them social security protection during these times Notably, the higher the contribution they pay, the higher the amount of benefit they will receive from SSS,” Ignacio concluded.

 

SSS reports P6.23 billion in disability benefits in Q4 2020

This photo was taken from: Facebook: Philippine Social Security System – SSS

 

In 2020, the SSS disbursed P6.23 billion in disability benefits, a decrease of 12.6 percent from the previous year. The amount is enough to pay out to 118,755 individuals.

The decrease, according to SSS President and CEO Ignacio, is due to the limited mobility of members and pensioners since March 2020, when the government imposed a strict community quarantine across the country.

“We facilitated the use of the drop-box system to minimize face-to-face transactions to curb the spread of the COVID-19 virus. Our top priority is the health and safety of our transacting members and our employees,” Ignacio stated.

“We have pushed for the digitalization of all our services amid the pandemic. However, we are already working on disability and death benefits to be included in the pipeline soon for members and our employees,” Ignacio stated.

With the updates from SSS, we are now ensured that our SSS contributions truly help the welfare of our community. All the benefits are fully enjoyed by the members depending on their situation. I want to encourage everyone to continue to contribute to SSS and enjoy the benefits it can offer in the future.

 

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