SSS issues Notices of Violation to large account employers in Parañaque City

by Info @Brand Zone | December 14, 2023

The Social Security System (SSS) urged delinquent employers in Parañaque City to settle their P83-million contribution delinquencies during the Run After Contribution Evaders (RACE) operation held on November 30, 2023.

SSS Vice President for Operations Legal Services Division I Renato Jacinto S. Cuisia (5th from left), SSS National Capital Region (NCR) South Legal Department Concurrent Acting Head Victorina Pardo-Pajarillo (6th from left), SSS Account Management Group Acting Head Neil F. Hernaez (right, side view) and SSS Executive Vice President for Branch Operations Sector Voltaire P. Agas (not in photo) led the issuance of Notices of Violation and billing letters to delinquent employers identified by the SSS NCR Large Accounts Department in the West Service Road and Tambo in Parañaque City.

SSS NCR Large Accounts Department Acting Head Henry D. Bonete said that the four large account employers incurred a total of P83 million unpaid contributions and corresponding penalties, affecting around 2,438 employees. “We advise them to coordinate with the SSS NCR Large Accounts Department within the next 15 days to settle their contribution delinquencies and avoid facing civil and criminal cases for violation of Republic Act No. 11199 or the Social Security Act of 2018,” Bonete added.

SSS signs agreement with Quirino Memorial Medical Center as newest KaSSSangga Collect Partner

by Info @Brand Zone | December 12, 2023

The Social Security System (SSS) welcomed the Quirino Memorial Medical Center (QMMC) as its newest partner in implementing the KaSSSangga Collect Program (KCP) during the ceremonial signing held at the QMMC lobby on November 29, 2023.

SSS Executive Vice President for Branch Operations Sector Voltaire P. Agas (4th from left) and QMMC Medical Center Chief Dr. Evelyn Victoria E. Reside (3rd from left) led the signing of a Memorandum of Agreement (MOA) that will benefit 200 job order (JO) and contract of service (COS) workers and 1,500 medical professionals by becoming self-employed members of the SSS.

Under the agreement, QMMC will become an authorized Coverage and Collection Partner of SSS, which will collect and remit the corresponding monthly contributions of its JO/COS workers and medical professionals through a salary-deduction scheme.

Other signatories to the MOA are SSS Vice President for National Capital Region (NCR) North Division Fernando F. Nicolas (5th from left), SSS Cubao Branch Head Edna Q. Aldea (6th from left), QMMC Financial and Management Officer Melanie H. Lomotan (left), and QMMC Chief Administrative Officer Cecilia M. Villamin (2nd from left).

SSS encourages retiree-pensioners to avail of its low-interest Pension Loan Program

by Info @Brand Zone | December 11, 2023

The Social Security System (SSS) calls on its retiree-pensioners to take advantage of its low-interest Pension Loan Program (PLP) for their immediate financial needs instead of borrowing from Sangla-ATM lenders.

SSS President and Chief Executive Officer Rolando Ledesma Macasaet said SSS launched PLP to assist SSS retiree-pensioners in their immediate financial needs by offering a loan program with a low-interest rate of 10% per annum computed on a diminishing principal balance, which is a far cry from those being lent by loan sharks.

“Aside from low interest rate, SSS will not require them to surrender their ATM cards as collaterals, unlike the practice of some private lending institutions. We also do not charge any processing or service fee when they avail of the pension loan,” Macasaet added.

Qualified retiree-pensioners can borrow a loan of up to three, six, nine, or 12 times their basic monthly pension (BMP) plus the P1,000 additional benefit or their aggregate monthly pension with a maximum loan amount of P200,000. Moreover, SSS will ensure that their net take-home pension is at least 47.25% of their aggregate monthly pension when they start paying the monthly amortization for the pension loan.

The SSS Chief said the PLP also has an extended repayment period. “A pension loan of three and six times the pensioner’s aggregate monthly pension has a payment term of six and 12 months, respectively. On the other hand, a pension loan of nine or 12 times the aggregate monthly pension has a payment term of 24 months,” he added.

The first monthly amortization for pension loans is due on the second month after SSS granted the loan. Further, the 1% service fee is waived to subsidize the payment for the borrower’s premium of the Credit Life Insurance (CLI).

To qualify for the PLP, retiree-pensioners:

• must be 85 years of age or below at the end of the last month of the loan term;

• must have no deductions such as outstanding loan balance, benefit overpayment payable to the SSS, etc., from their monthly pension;

• must have no existing advance pension under the SSS Calamity Assistance Package;

• must be receiving their regular monthly pensions for at least one month, and the pension status is "Active"; and

• must have updated “mailing address and mobile number.”

Interested retiree-pensioners may submit their loan applications at the nearest SSS branch office or through their My.SSS account. Once approved, loan proceeds will be credited to their nominated bank account or UnionBank quick card, within three working days for online applications and five working days if filed over-the-counter through the SSS branch.