MANILA, Philippines -The Social Security System (SSS) is partnering with cooperatives as part of efforts to expand the coverage of self-employed workers.
In Luzon alone, the agency hopes to expand the coverage of self-employed workers by close to 500 members this year.
The cooperatives would be tapped as collecting agents to facilitate the remittance of their members’ contributions and loan amortizations.
SSS president and chief executive officer Emilio de Quiros said the agency is particularly eyeing to encourage public transportation drivers, farmers and market vendors to become SSS members.
“We are also open to special arrangements to help them in SSS transactions such as benefit claims. A partnership with SSS will give them an advantage over other cooperatives that don’t offer the same SSS services and it will enable them to attract more members,” he said.
To qualify as an SSS collecting agent, the cooperative must meet certain criteria. For instance, the cooperative must be a registered employer in good standing and must have passed the pension fund’s financial evaluation to be eligible for accreditation.
The cooperatives may file their applications along with the required documents such as by-laws and audited financial statements in any SSS branch.
“The SSS will also pay accredited collecting agents a service charge for every transaction. Members will benefit from having a convenient means to remit their monthly SSS payments and help augment their cooperative’s earnings at the same time,” de Quiros said.