OFW
SSS disburses more than
P442-M for EC pension
benefit adjustments
T
he 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
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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 No. 54. s. 2018 signed on May
8 this year, President 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.
“There is a need to continually improve benefits under
the Employees’ Compensation Program (ECP) to make
them more responsive to the welfare and development
needs of occupationally disabled workers,” the order reads.
“The results of the actuarial studies of the SSS (Social
Security System) and GSIS (Government Service Insurance
System) show that the SIF (State Insurance Fund) can
finance the increases without affecting the stability of
the SIF and without requiring additional contributions,” it
added.
https://www.sss.gov.ph/