SSS disburses P20.6-B for benefits in first quarter

The Social Security System (SSS) paid out P20.6 billion in pensions and other benefits during the first quarter this year, which was seven percent higher than the P19.2 billion over the same period last year.

SSS Officer-in-Charge Edgar Solilapsi said pension disbursements, which accounted for nearly 70 percent of benefit releases, posted a seven percent increase for a total of P14.2 billion.

“The number of SSS pensioners swelled by more than 110,000 within the 12-month period ending in March this year. More than half of them are retirement pensioners and about 47,000 more are surviving spouses and dependent children of members,” Solilapsi said.

Retirement and death pensioners comprise 96 percent of the 1.56 million SSS pensioners. Members with at least 120 contributions are entitled to retirement pensions and those with a minimum of 36 monthly premiums are eligible for death and disability pensions.

The state-run agency provides benefits for sickness, maternity, partial and total disability, retirement and death. Contributions determine the amount of benefits members and their beneficiaries receive.

Solilapsi reminded members of the new SSS payment deadlines, which would take effect in July starting with payments applicable to the month or quarter ending in June.

The new cut-off dates are based on the 10^th digit of the employer number and social security number of household employers, self-employed workers and voluntary members. If the 10^th digit is ‘1’ or ‘2’, the deadline falls on the 10^th day after the applicable month or quarter.

“Under the revised deadlines, the cut off date would be on the 15^th day of the following month if the 10^th digit is ‘3’ and ‘4’, the 20^th day for ‘5’ and ‘6’, 25^th day for ‘7’ and ‘8’ and on the last day for ‘9’ and ‘0’,” Solilapsi said.

Other than pensions, the SSS also disbursed P517.9 million for sickness benefits, rehabilitation and medical services and P1 billion for maternity claims and funeral grants. Lump sum payments for retirement, death and disability amounted to P4.2 billion. -30- RAFFY RICO