The Social Security System (SSS), the pension fund for private sector workers, is Celebrating its 56th Founding Anniversary, with activities to highlight its programs and its accomplishments in the three years of the Aquino Administration.
The SSS provides services and benefits to help members which in by the end of 2012 included 602,139 employers, 21,945,734 employees, 3,803,327 self-employed, and 3,708,306 voluntary as well as 1,595,741 pensioners. It is the counterpart of the Government Service Insurance System (GSIS) which is for government workers. SSS administers two major programs: Basic Social Security and Employees’ Compensation. The latter, started in 1975, provides compensation and benefits to workers.
The SSS was created on September 1, 1957, pursuant to the Social Security Act of 1954 providing universal and equitable social security protection suitable to the needs of Filipinos. It was strengthened by Republic Act 8282 in 1997 which provided workers with better benefits, expanded coverages, and improved investment flexibility. Through SSS, the government is able to promote social justice and protection for employees and their families, including overseas Filipino Workers (OFWs), against sickness, maternity, old age, and other contingencies, It provides old age/retirement pension and loans – salary, calamity, and emergency – as well as loans for housing/home improvement, education, medical, and calamity.
OFWs are serviced through 13 SSS offices in Philippine embassies and consulates in Hong Kong, Taipei, Brunei, and Singapore in Asia;Riyadh, Jeddah, and Al Khobar in Saudi Arabia;Kuwait, Abu Dhabi in United Arab Emirates, and Doha, Qatar, in the Middle East;Rome and Milan, Italy;and London, United Kingdom. SSS has 80 partner-associations nationwide, representing self-employed and the informal sector – tricycle operators and drivers, market vendors, farmers and fisherfolk, household helpers, garbage pickers, golf course and barangay workers. The sector is enrolled under the micro-savings program “AlkanSSSya.”
We congratulate the Social Security System, headed by Chairman Juan B. Santos and President and Chief Executive Officer Emilio S. de Quiros Jr., and other Officers and Personnel, in their collective efforts to help uplift, through more beneficial measures, the living condition of workers in the private sector in the Republic of the Philippines. CONGRATULATIONS AND MABUHAY!