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The Social Security System (SSS; Filipino: Paseguruhan ng mga Naglilingkod sa Pribado) [4] is a state-run social insurance program in the Philippines to workers in the private, professional and informal sectors. SSS is established by virtue of Republic Act No. 1161, better known as the Social Security Act of 1954.
Social Security System (Philippines), for private employees and the self-employed (includes those de facto working for the government but not de jure - not having a [direct] "employer-employee relationship" such as through "Contract of Service (CoS)" and "Job Order (JO)" types of engagement)
The SSS also pledged to sell its shares in Equitable PCI, [13] although this was dependent on the outcome of its previous sale case in the Supreme Court. The SM Group tender offer would be worth ₱36 billion and increase SM's stake to 85.6%, well above the 67% needed to effect a merger with Banco de Oro. [13]
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In order for a 5.9% increase to result in an extra $200 per month in benefits, you would have needed to have received at least $3,389 per month in 2021. The maximum benefit for someone who’d ...
The unemployment benefit of the SSS also covers the kasambahay (housemaids) as well as Overseas Filipino Workers (OFWs; Filipino migrant workers).Claimants should have made 36 monthly contributions to the SSS, 12 months of which should be in the 18-month period immediately preceding the month of involuntary separation.
Source: Social Security Administration. The projected 2025 COLA for Social Security is 2.5%, according to an emailed September 11 TSCL press release, resulting in another drop.
Millions of retirees depend on Social Security to make ends meet. Benefits are a major source of income for 60% of current retirees, according to a 2024 poll from Gallup, with an additional 28% of ...