DAVAO CITY – The state-run Social Security System (SSS) is paving the way for former members to continue paying voluntary contributions even if they are already covered by the Government Service Insurance System (GSIS).
This developed after an SSS official saw the long queue of government information officers, who used to pay voluntary contributions to SSS, at its booth during the three-day National Information Convention (NIC) at the SMX Convention Center in Lanang, Davao City.
They were inquiring whether they could continue paying their contributions.
Speaking before some 1,600 participants, May Catherine Ciriaco, senior vice president of SSS and officer-in-charge of the Public Affairs Division, encouraged former SSS members but who are already covered by GSIS, to continue their voluntary contributions.
She said that by doing so, this entitles them to retirement benefits both from SSS and GSIS. It is something to look forward to in the future, Ciriaco added.
In her NIC presentation on SSS campaign “Kontribusyong Mo, Sulit na Sulit”, Ciriaco highlighted the standards that SSS follows in the utilization of funds collected from contributions and investment incomes.
Ciriaco said that like social security institutions in the world, SSS follows standards both in funds collected from contributions plus interest and investment income from investments that are pooled to certain funds to pay benefits and the operating expenses of the agency.
“We closely monitor because there are Charter limits that we can spend the benefits defined by law,” she stressed.
Currently, SSS is still pushing for the increase in contributions to address clamor for an increase in benefits, such as sickness and maternity, disability pension, and retirement benefits.
If the increase is approved as part of the Reform Agenda, Ciriaco said the estimated monthly pension of a member with at least 30 paying years would increase to PHP20,300 from the current maximum pension of PHP10,900 by 2026, if the covered income increases to PHP30,000 in five years.
She said benefits such as maternity, sickness, and funeral, which are computed based on the monthly salary credit, would also increase.
Ciriaco also sought the help of the government communication and information officers to report delinquent employers.
“We are duty-bound to report,” she said, adding that there are employers who deduct SSS contribution of workers but do not remit this to SSS.
“Bawal ito (This is prohibited). A case may be filed against delinquent employers for estafa and violations of the SSS law. You could end up in jail,” she pointed out.
Ciriaco said people should not see SSS contributions as an expense but savings for the future. (Lilian C. Mellejor/PNA)
