SOCIAL Security System (SSS) saw its benefit disbursements rise by 13.2% to P236.3 billion in the first 11 months of the year, it said in a statement on Wednesday.
SOCIAL Security System saw its benefit disbursements rise by 13.2% to P236.3 billion in the first 11 months of the year, it said in a statement on Wednesday.
“Our pensioners, which stood at three million in 2021, grew to 3.18 million by November 2022, while our retirement, disability, and death benefit monthly disbursements, which averaged at P16.6 billion in 2021, increased to P19.53 billion for January to November this year,” he added. “With all these changes, we were able to disburse P1.20 trillion benefits through 23.87 million claims in less than six years, specifically from January 2017 to November 2022,” Mr. Regino added.
RA No. 11210 was also signed in the same year, which increased the number of compensable days of maternity leave to 105 days for live childbirth, regardless of the type of delivery, and an additional 15 days if the female worker qualifies as a solo parent. This was from the previous 60 days for normal delivery and 78 days for cesarean section delivery.
“As we continue to see higher benefit payments through these developments, it is equally important for us to also implement the scheduled reforms provided under the Social Security Act of 2018 that aim to strengthen the SSS fund for us to continue serving our current and future members and their beneficiaries,” Mr. Regino said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SSS: P236.3B worth of benefits disbursed in Jan-NovThe Social Security System (SSS) on Wednesday said it disbursed a total of P236.3 billion worth of benefits from January to November this year.
Read more »
ECC bares EC compensation details for 2022 - BusinessMirrorOver half of the recipients of the P1.22 billion worth of Employees’ Compensation (EC) benefits released by state insurers during the first half of the year were for death and pension claims, according to the Employees’ Compensation Commission (ECC). In its initial 2022 accomplishment report, ECC reported the Social Security System (SSS) and the Government System Insurance
Read more »
Spectrum installs solar PV system in OB Montessori Center Fairview - BusinessWorld OnlineMSPECTRUM, Inc. (Spectrum) is set to energize the Operation Brotherhood (OB) Montessori Center with renewable energy, the renewable energy firm announced on Monday. In a media release, Spectrum said it would install a 99-kilowatt-peak (kWp) solar photovoltaic (PV) system in the educational institution that will generate 132,000 kilowatt-hours of clean energy annually. Spectrum said the […]
Read more »
Iloilo City launches online payment system for property tax - BusinessWorld OnlinePROPERTY TAX payments in Iloilo City can now be done digitally, the local government announced. In a post on its Facebook page, the city government encouraged property owners to use the site https://iloilocity.online/ to pay for their annual tax. “For Real Property owners in Iloilo City, you may now access the Web Portal for registration […]
Read more »
Netizens share SIM registration woes on social mediaMANILA, Philippines — A number of netizens expresses their frustration over technical setbacks thatn hounded them on the first day of the SIM card registration
Read more »
Angel Locsin ends social media hiatus - Latest ChikaAngel Locsin has finally made her presence felt on social media after her months-long online break. In a video through a pharmaceutical company she endorses, the actress gave a public message for the Christmas season. The said video was first posted on the pharmaceutical company’s Facebook page last December 5 and was reposted on Angel’s […]
Read more »