SSS collections reachP2.8 B in W. Visayas

MANILA, Philippines - The Social Security System (SSS) collected P2.8 billion in contributions in Western Visayas from January to September this year, up 13 percent from the P2.5 billion collection over the same period last year.

SSS President and Chief Executive Officer Emilio S. de Quiros Jr. said 77 percent of the total collections came from employers that remitted P2.2 billion for their employees’ contributions.

Collections from self-employed and voluntary members went up by 16 percent to P653 million during the nine-month period.

“Employers continue to help us achieve our goals with their cooperation and strict compliance with the SSS law. Within the three quarters of 2014, a total of 14,559 new employees are reported for social security coverage,” De Quiros said.

“Contribution collections in this region also increased partly due to the growth in participating informal sector groups in our AlkanSSSya program and the continuous enrollment of contractual and job order employees of local government units,” he added.

To date, the SSS has around 1.81 million members in Western Visayas including 39,313 newly registered members comprised of employed members at 1.24 million; self-employed at 336,481; and voluntary members including overseas Filipino workers at 231,255.

During the first nine months of the year, 51 associations and LGUs joined the state pension fund’s micro-savings program called AlkanSSSya in Western Visayas, covering 4,680 self-employed members.

The AlkanSSya program has so far covered 102,765 workers from 1,028 informal sector groups and LGUs nationwide.

Meanwhile, social Security and employees’ compensation benefit disbursements in the region, amounted to P5.1 billion. About P4.64 billion of that amount was paid for the regular pensions for retirement, death and disability.

De Quiros said members located in Western Visayas also received P5.03 million in lump sum for retirement, P134.96 million for death, P254.65 million in funeral grants, P7.75 million for disability, P49.34 million for maternity and P20.01 million for sickness.

The SSS recently opened a new office in Bacolod City as part of efforts to further improve service delivery to members. The new branch will handle the accounts of at least 3,000 employers with more than 20,000 employees.

It expects expects an additional P8 million in contributions monthly from the new branch.