SSS dis­burses more than P442M for EC pen­sion bene it ad­just­ments

Watchmen Daily Journal - - Business -

The state-run So­cial Se­cu­rity Sys­tem (SSS) on Mon­day said more than P442 mil­lion was dis­bursed to more than 17,000 Em­ploy­ees Com­pen­sa­tion (EC) pen­sion­ers fol­low­ing Pres­i­dent Ro­drigo Duterte’s ap­proval of the EC ben­e­fit in­crease last May.

SSS, the ad­min­is­tra­tor of EC claims for pri­vate em­ploy­ees, said more than P442.38 mil­lion was dis­bursed to 17,619 EC pen­sion­ers in ad­di­tional ben­e­fit of P1,150 start­ing Jan­uary 2017 un­til Oc­to­ber 2018 in­clud­ing the 13th month pen­sion for the year 2017, and in ad­di­tional carer’s al­lowance of P425 per month start­ing May 2018 to Oc­to­ber 2018.

SSS Pres­i­dent and Chief Ex­ec­u­tive Of­fi­cer Em­manuel F. Dooc said that as of Novem­ber 2, nearly 100 per­cent of the ad­di­tional ben­e­fit has been given to EC pen­sion­ers thru their re­spec­tive part­ner bank.

“As soon as we have re­ceived the no­tice that Pres­i­dent Duterte had ap­proved the ad­di­tional ben­e­fit for EC pen­sion­ers, we im­me­di­ately up­dated our sys­tems to iden­tify and en­able the dis­burse­ment of the ad­di­tional ben­e­fit. We have to fully align our sys­tem so that the cor­rect num­ber of pen­sion­ers will be given the ben­e­fit. Funds were al­ready re­leased to our part­ner-dis­burs­ing banks on Oc­to­ber 19, 2018 ,” Dooc said.

“Nearly all qual­i­fied EC pen­sion­ers have re­ceived their ad­di­tional ben­e­fit thru their re­spec­tive banks as we have al­ready re­quested our part­ner banks to credit the ad­di­tional ben­e­fit to the bank ac­counts of the pen­sion­ers im­me­di­ately,” he added.

Based on Ex­ec­u­tive Or­der (EO) No. 54. s. 2018 signed on May 8 this year, Duterte ap­proved a P1,150 across-the-board in­crease in EC monthly dis­abil­ity pen­sion of all EC per­ma­nent dis­abil­ity pen­sion­ers and qual­i­fied ben­e­fi­cia­ries in the pri­vate sec­tor.

The EO also in­creased the amount of carer’s al­lowance granted to EC per­ma­nent dis­abil­ity pen­sion­ers in the pub­lic and pri­vate sec­tor from P575 to P1,000 per month.(PR)

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