SSS bullish on REITs prospects

by Info @Brand Zone | June 3, 2024

 The Social Security System (SSS) is poised to enhance its income by strategically increasing its investments in real estate investment trusts (REITs) this year, a calculated move expected to yield better returns for SSS.

SSS President and Chief Executive Officer Rolando Ledesma Macasaet said that SSS is optimistic to generate more profit from its P6-billion investment in nearly all the REITs currently available in the Philippines.

Macasaet expressed optimism, stating that of P6-B investment, more than 75% were purchased this year and yield around 8 percent. This promising figure is expected to significantly boost the SSS investment portfolio, instilling a sense of optimism among stakeholders.

Macasaet's bullish outlook on REITs prospect is underpinned by expected rate cut second half of the year and the increasingly favorable market conditions. This positive outlook sets the stage for potentially higher returns on SSS' investments.

SSS Investments Sector Concurrent Acting Head Ernesto D. Francisco, Jr., said that SSS currently invests 5 percent of its equity funds in REITs and looks to further increase on opportunities.

"REIT is a fantastic investment structure for pension funds like SSS because 90 percent of the lease income is mandatorily distributed. The REIT sector also greatly contributes to economic development since REIT players must reinvest within one year," Francisco said.

Francisco predicted that REITs will be among the top contributors to this year's investment income because they continue offering attractive dividend yields higher than the prevailing benchmark rates.

He said SSS will continue investing in REITs in the upcoming years because they can earn decently from steady rental income and growth. "The more robust and diversified the cash flow of the REITs asset, the more we will invest in them."

He noted that the trend now is REIT companies infusing more quality assets.

"Looking ahead, we envision a promising future for the Philippine REIT sector, which could potentially become a major contributor to the capital market. Consider

Singapore, where 20 percent, or six out of 30, of its Straits Times Index component is composed of REITs. The absence of REITs in the Philippine Stock Exchange Composite Index presents a significant growth opportunity. Singapore's vibrant individual investor base, a key growth driver of their REITs, serves as an inspiring model for us," Francisco explained.

Francisco said that the Singapore experience on REIT development only shows that REITs can become a very significant growth driver in the Philippines.

Pag-file ng SSS Retirement Benefit Claim, online na

@Buti na lang may SSS | May 2, 2024

Magandang araw, SSS! Ako ay 62 taong gulang na at nais ko nang mag-file ng aking retirement benefit. Paano ko ba gagawin ito at anong mga dokumento ang mga kailangan kong i-submit? Salamat. – Rudy

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Mabuting araw sa iyo, Rudy!

Mabuting balita! Ngayon, hindi mo na kinakailangan pang magtungo sa Social Security System (SSS) branch para mag-file ng iyong retirement benefit application. Magagawa mo na ito online gamit ang iyong My.SSS account sa www.sss.gov.ph.

Pero bago natin talakayin iyan, atin munang alamin kung ano ang SSS Retirement Benefit Program at ang mga qualifying conditions na nakapaloob dito. 

Ang retirement benefit ay isang cash benefit na ibinibigay ng SSS sa miyembro nito na umabot na sa edad ng pagreretiro. Maaari itong ibigay ng lumpsum o kaya naman ay monthly pension.

Ang optional retirement age sa SSS ay 60, maliban sa underground o surface mineworker members kung saan ito ay 50 taong gulang. Ang technical retirement age naman ay 65, maliban sa underground o surface mineworker members kung saan ito ay 60, at 55 naman para sa mga miyembro na racehorse jockey.

Para makatanggap ng buwanang pensyon, kinakailangan na mayroong 120 posted monthly contributions ang miyembro bago ang semester ng retirement. Kung hindi naman umabot sa 120 monthly contributions ay lumpsum lamang ang kanyang matatanggap.

Ngayon, talakayin na natin ang paraan ng pagpa-file ng retirement benefit. Simula Disyembre 2021, ang lahat ng miyembro ay kinakailangan nang mag-file ng kanilang retirement benefit claim application via online sa My.SSS Portal sa www.sss.gov.ph.

Samantala, may ilang cases lamang na kinakailangan na over-the-counter ang filing gaya ng:

• Kung may outstanding balance sa Stock Investment Loan Program/Privatization Loan Program/Educational Loan/Vocational Technology Loan ang miyembro; 

• Ang claimant ay guardian sa ilalim ng guardianship; incapacitated ang miyembro o naka-confine sa isang institution gaya ng penitentiary, correctional, o rehabilitation; 

• Ang claim ay gagamitan ng Portability Law o Bilateral Social Security Agreements; 

• May adjustment o for re-adjudication; o 

• Para sa unclaimed benefit ng yumaong miyembro. 

Ang mga miyembro na may dependent children, o isang racehorse jockey o underground o surface mineworker, at iba pang condition na maaaring madetermina ng SSS, ay maaaring pagpasahin ng karagdagang dokumento gaya ng online certification with undertaking para makapagpatuloy ng online filing ng retirement benefit claim sa My.SSS o kaya naman ay maabisuhan na ituloy ang application over-the-counter sa SSS branches.

Para sa online filing ng retirement benefit, kinakailangan na mayroong My.SSS account ang miyembro na magpa-file. Kailangan din na mayroon siyang approved disbursement account sa Disbursement Account Enrollment Module (DAEM) o Unified Multi-Purpose Identification (UMID) Card na enrolled bilang ATM kasi rito ipadadala ang benepisyo. Ang kagandahan ng online filing ng retirement benefit ay hindi mo na kailangan pang magpasa ng mga form sa SSS. Kapag mayroon ka nang My.SSS account at valid disbursement account, ang kailangan mo na lamang gawin ay punan ang mga hinihinging impormasyon at i-verify ang mga ito.

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Patuloy na tumatanggap ng aplikasyon ang SSS para sa loan penalty condonation program nito.  Inilunsad ang Consolidation of Past Due Short-Term Member Loans with Condonation of Penalty Program (Conso Loan) para tulungan ang mga miyembro na mayroong past-due loans sa SSS. Sa ilalim ng programa, hindi na sisingilin ang kaukulang penalties o multa ng kanilang past-due loans. Sa halip, ang tangi na lamang nilang babayaran ay ang orihinal o principal amount at interes nito.

Maaaring bayaran ang prinsipal at interes sa pamamagitan ng one-time full payment, o kaya’y bayaran kahit 10% nito bilang down payment at ang natitirang balanse ay babayaran nang hulugan sa loob ng hanggang 60 buwan o limang taon, depende sa halaga ng kanilang pagkakautang.

Sakop ng Conso Loan ang salary loan, calamity loan, Salary Loan Early Renewal Program (SLERP), emergency loan, at restructured loans gaya ng Loan Restructuring Program (LRP) noong mga nakaraang taon. 

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Upang makapagrehistro sa My.SSS, maaari kang magtungo sa SSS website (www.sss.gov.ph) at magparehistro sa Member portal. Kailangang punan mo ang lahat ng kinakailangang impormasyon. Tandaan na ang irerehistrong e-mail address ay kailangang aktibo at nagagamit pa dahil dito ipadadala ng SSS ang link para i-activate at magamit mo ang iyong My.SSS account. 

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Para sa tamang impormasyon at updates sa mga programa at benepisyo ng SSS, bisitahin at i-follow ang opisyal na Facebook page ng SSS sa “Philippine Social Security System - SSS” o sa X, ang dating Twitter, sa @PHLSSS. Maaari ring mag-subscribe sa YouTube channel sa “MYSSSPH”, at sumali sa SSS Viber Community, “MYSSSPH Updates”. Maaari kayong magpadala ng inyong concerns at katanungan sa usssaptayo@sss.gov.ph.

SSS adopts a flexible work arrangement in its Main, Makati offices; Branch offices working hours remain unchanged

by Info @Brand Zone | May 31, 2024

The Social Security System (SSS) announced that all its branch offices nationwide will remain open and operate on regular business hours to accommodate its members, pensioners, and claimants as the SSS implements a flexible work arrangement starting on Monday, June 3, 2024, to help mitigate traffic congestions especially in Metro Manila.

SSS President and Chief Executive Officer Rolando Ledesma Macasaet clarified that under the flexible work arrangement, the SSS headquarters in Quezon City and its corporate office in Makati will have a one-day work from home and four-day work in office schedule while all SSS branch offices nationwide including SSS Diliman Branch will continue to be opened daily.

Macasaet said the employees reporting in the SSS Main Office in Quezon City will be working from home on Mondays and will be working in the office very Tuesdays to Fridays.

“Meanwhile, SSS employees reporting in our corporate office in Makati will be working in the office every Mondays to Thursdays and will be working from home on Fridays,” Macasaet said.

However, Macasaet emphasized that the business operations of our 254 SSS branch offices nationwide will not be hampered by the modified work schedule.

“We want to notify everyone that SSS branch offices nationwide including our SSS Diliman Branch in Quezon City will continue to be open everyday and they will follow their normal operations, ensuring the seamless delivery of services to our members, pensioners and their beneficiaries,” Macasaet said.

SSS Executive Vice President Voltaire P. Agas said all branch offices will be open from 8:00 a.m. until 5:00 p.m. from Monday to Friday, while selected SSS offices in the malls will start their operations from 9:00 a.m. until 6:00 p.m. from Monday to Saturday.

“All our branch offices will continue to accept various SSS transactions, including tellering services in SSS offices with tellering facility,” Agas said.

Further, Agas said that SSS members and claimants are encouraged to take advantage of our 24/7 online transaction services through the My.SSS Portal, such as filing of benefit claim and loan applications.

“Members can conveniently pay their monthly contributions and loan amortizations over the counter and online through SSS-accredited bank and non-bank collecting partners. These alternative methods ensure that our services remain accessible and uninterrupted,” he noted.

Earlier, Finance Secretary Ralph G. Recto, who is also the Chairperson of the Social Security Commission, announced that the Department of Finance (DOF) adopted a four-day workweek schedule starting this May to lessen the burden of DOF employees from going through the heavy traffic congestion in the National Capital Region.

Also, to help ease the intense traffic flow, the local government units (LGUs) in Metro Manila adjusted the work schedule of its employees to 7 a.m. to 4 p.m. from the usual 8 a.m. to 5 p.m. schedule.