Dominguez un­der­scores SSS pri­or­i­ties un­der law

Sun.Star Pampanga - - TOPSTORIES! -

New So­cial Se­cu­rity Com­mis­sion (SSC) chair­man Car­los Dominguez III has em­pha­sized the need to re­duce the state-run pen­sion fund’s over­head ex­penses and use dig­i­tal tools to make it eas­ier for its mem­bers to ac­cess ser­vices.

“We need to be very pru­dent in man­ag­ing ex­penses be­cause we are talk­ing about the hard-earned sav­ings of Filipino work­ers. The new SSS law has pro­vided the means to beef up the pen­sion fund through con­tri­bu­tion rate ad­just­ments. Our role now is to dig­i­tize pro­cesses that will make it eas­ier for mem­bers to ac­cess ser­vices. Mod­ern­iz­ing sys­tems will also even­tu­ally save on costs and other op­er­at­ing ex­penses,” Dominguez said.

Based on the So­cial Se­cu­rity Act of 2018, So­cial Se­cu­rity Sys­tem (SSS) is al­lowed to spend no more than twelve per­cent (12 per­cent) of the to­tal yearly con­tri­bu­tions plus three per­cent of other rev­enues for ad­min­is­tra­tive and op­er­a­tional ex­penses such as salaries and wages, sup­plies and ma­te­ri­als, de­pre­ci­a­tion, and the main­te­nance of of­fices of the SSS.

SSS fi­nan­cial state­ments show that the pen­sion fund uti­lizes an av­er­age of five per­cent of its to­tal rev­enue for an­nual op­er­at­ing ex­penses since 2016. Op­er­at­ing ex­penses of SSS amounted to P9.48 bil­lion in 2016, P9.54 bil­lion in 2017, and P9.76 bil­lion in 2018.

As part of his man­date, Dominguez also wants to see more in­vest­ments in in­for­ma­tion tech­nol­ogy in sup­port of the planned dig­i­tal trans­for­ma­tion of the pen­sion fund.

“We have to do some se­ri­ous in­vest­ments in tech­nol­ogy be­cause it will not only save us but will also save time for the trans­act­ing pub­lic. On­line transactions are eas­ier and more con­ve­nient. But I di­rected the SSS man­age­ment at the same time to be clear as to when ex­actly we are sup­posed to see the re­turns of our in­vest­ments in elec­tronic ser­vices,” Dominguez said.

At present, SSS elec­tronic ser­vices in­clude on­line ap­pli­ca­tion for SS num­ber is­suance, ap­pli­ca­tion for mem­ber data amend­ment, Pay­ment Ref­er­ence Num­ber (PRN) in­quiry and gen­er­a­tion, em­ploy­ment re­port sub­mis­sion, sub­mis­sion of con­tri­bu­tion (R-3) and loan col­lec­tion list (ML-2), salary loan ap­pli­ca­tion, cer­ti­fi­ca­tion of salary ap­pli­ca­tion, fil­ing of ma­ter­nity and sick­ness no­ti­fi­ca­tion.

These ser­vices and claims can be made thru the SSS Web­site— My.SSS, the SSS Mo­bile App, Self-Ser­vice In­for­ma­tion Ter­mi­nal (SSIT), In­ter­ac­tive Voice Re­sponse Sys­tem (IVRS) and Tex t - SSS.

Other ser­vices that may be filed through these chan­nels in­clude fil­ing of re­tire­ment claim ap­pli­ca­tions, an­nual con­fir­ma­tion of (ACOP) pro­gram, re­quest for branch ap­point­ment, in­quiry on lo­ca­tion of SSS branch, Mem­ber/ Em­ployer/ House­hold Em­ployer, feed­back sub­mis­sion, in­quiry on SS in­for­ma­tion, Per­sonal Eq­uity Sav­ing Op­tion (PESO) fund en­rol­ment, Flexi-fund en­rol­ment and re­quest­ing of records.

Last Jan­uary 2018, SSS made a bold move in its dig­i­tal plat­form when it im­ple­mented the Real-Time Pro­cess­ing of Con­tri­bu­tions (RTPC) pro­gram wherein con­tri­bu­tion pay­ments are posted im­me­di­ately through the use of a Pay­ment Ref­er­ence Num­ber (PRN), thereby avoid­ing de­lays in the pro­cess­ing of ben­e­fits be­cause of un­posted con­tri­bu­tions.

Un­der his lead­er­ship, Dominguez wants to re­in­force the twin mes­sages that SSS helps its mem­bers save for to­mor­row while pro­vid­ing them with easy ac­cess to ser­vices to­day. “What you put in SSS as sav­ings to­day is what you will re­ceive in ben­e­fits in the fu­ture. The in­crease in con­tri­bu­tions is an op­por­tu­nity for mem­bers to save more for con­tin­gen­cies, and par­tic­u­larly for re­tire­ment,”he said.

SSS’con­tri­bu­tion col­lec­tion in 2018 jumped by over P22 bil­lion to P181.92 bil­lion in 2018, up by 13.89 per­cent from the P159.72 bil­lion recorded in 2017.

Dominguez chairs the SSC, which is com­posed of rep­re­sen­ta­tives from la­bor and em­ployer groups, namely, SSS Pres­i­dent and Chief Ex­ec­u­tive Of­fi­cer Aurora Cruz Ig­na­cio, Michael Regino, Gon­zalo Duque, Diana Pardo Aguilar, Anita Bum­pus Quitain and Ri­cardo Moldez. La­bor Sec­re­tary Sil­vestre Bello III also sits in the Com­mis­sion as mem­ber.

( Press Re­lease)

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