SSS Gave Loan Penalty Amnesty to Members

The 58,995 delinquent borrowers and members of the Social Security System of the Philippines or SSS, are given amnesty on loan penalties that totaled to 426.83 million Pesos.

Members who want to avail the loan penalties condoning program should register. The deadline of registration will be on September 30, 2012.

The loan penalty condoning program is open to members whose loan payments were unremitted by their employers (Situation 1-A) and borrowers with at least three paid amortizations and a minimum of three contributions within the six-month period prior to application for amnesty (Situation 2).

So, visit now the SSS office and register. Learn also if you are eligible for the 100 percent penalty condonation.

SSS 1.07 Billion Collection from OFW

 The Social Security System (SSS) collected P1.07 billion in contributions from overseas Filipino workers in the January to May period, a 13% jump from its P944.75 million collection during the same period last year.

In a statement, SSS president and chief executive officer Emilio de Quiros, Jr. said the growth in OFW contributions can be attributed to the agency's efforts to provide OFWs with easy access to their membership records and services, even while abroad.

"Recent SSS initiatives such as enhancing our range of website services, opening a 16-hour SSS call center, uploading instructional YouTube videos and starting an official SSS Facebook page to address member concerns were all created with OFWs in mind," he said.

SSS members can check their contributions, loans and benefits on the website (www.sss.gov.ph) or via the SSS call center (920-6446 to 55). They can also view SSS videos or contact SSS by looking up "Philippine Social Security System" at Facebook and YouTube.

source: ABS-CBN

ID Production, Resumed

In 2010, the Social Security System in the Philippines or SSS has stopped its ID production after its machine broke. Now, the SSS revealed that the production has been resumed.

So all SSS members who wants to get new SSS ID or wants to replace the lost ID, you can now go to the SSS branch near you and settle your purpose. However, the SSS said that they need two months to finish backlog or those application that has not been processed due to the machine broke down.

Lower Rates of SSS Loans

It's a good news today for all SSS members and those who want to get a loan from the SSS.

The Social Security System has lowered the interest rate for the loans in either commercial or personal. Previously, the interest rate was 13.5 percent for commercial and 10 percent for personal. The latest interest rate is 11.7 percent for commercial and 7.5 percent for personal loans.

Increase in Contribution and Pension

The SSS president and CEO Emilio de Quiros Jr released a statement saying that SSS proposed a 0.6 percent increase in the contribution rate to 11 percent. This might a bad news to SSS members who are paying contributions because their contribution fees will increase. However, there is also a good news to this. According to de Quiros, SSS proposed to increase the pension of the SSS members too.

Here's part of the news regarding this:

De Quiros said SSS has proposed a 0.6% increase in the contribution rate to 11%, and a P5,000 increase in the maximum monthly salary credit. He said if approved, the adjustments would allow the agency to implement a 10% across-the-board pension increase, give pensioners a P500 one-time grant, and hike other benefits.

P1.4 Million worth of SSS Checks Gone with Hijackers

Got a bad news today especially for SSS members coming from Marikina, Lawton, Cubao, Diliman, Cainta, San Mateo and Antipolo. The SSS checks that should be delivered to you had been stolen by armed men who hijacked the delivery van of the Philippine Postal Corporation in Cainta, Rizal postal office on December 13, 2010.

The bad news was revealed by the SSS President and CEO during the press statement this Sunday.

The good news is that the total number of checks gone with the hijackers is only 125 and the banks were already told to reject those compromised checks. And there's nothing to worry about for the affected members of the Social Security System because those affected can still receive their claims although it will be a little bit delayed.

SSS Released P9.3 Billion as Pension and Bonus

Have you received your pension for December and the 13th month bonus?

I heard from the news that SSS or Social Security System in the Philippines has released 9.3 billion pesos as pension of the pensioners and the other part is as the 13 month bonus to pensioners.

According to SSS there are at least 1.5 million pensioners in the SSS and one of it is you.

So, make sure that you already received the 13th month bonus and your pension. If not then there might be something wrong in the management.