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The SSS PESO (Personal Equity Savings Option) Fund is a voluntary savings program that members can utilize to augment their retirement benefits from the regular membership. [20] Launched in September 2014, it is a provident fund that gives tax-free returns and it can be made available effective upon the retirement of the members or when certain ...
GSIS members are entitled to an array of social security benefits, such as life insurance benefits, separation or retirement benefits, and disability benefits. GSIS is also the administrator of the General Insurance Fund by virtue of RA 656 (Property Insurance Law).
The Social Security Act of 1954 has provisions related to unemployment benefits but the provisions were included without prior study on the solvency of the then to be established social security system. The provisions on unemployment benefits were dropped when the legislation was amended in 1957 to prioritize retirement, sickness, disability ...
The Philippine Senate Committee on Civil Service, Government Reorganization and Professional Regulation is a standing committee of the Senate of the Philippines. It was known as the Committee on Civil Service and Government Reorganization until August 3, 2015, when its jurisdiction was expanded.
Defined benefit (DB) pension plan is a type of pension plan in which an employer/sponsor promises a specified pension payment, lump-sum, or combination thereof on retirement that depends on an employee's earnings history, tenure of service and age, rather than depending directly on individual investment returns.
In the Philippines, there are employers' confederations to lobby the protection of firm owners; they also represents the business sector and employers in the country. The most widely known is the Employers' Confederation of the Philippines, which is leads as the voice of the employers in labor management and socioeconomic development. [43]