THE Social Security System (SSS) aims to transform social security coverage in the country through a new program that encourages individuals and groups to subsidize the monthly contributions of SSS members.
SSS President and Chief Executive Officer Michael G. Regino said that the contribution subsidy provider program (CSPP) is an out-of-the-box approach in helping members who are having a hard time paying their social security contributions.
Under this program, a contribution subsidy provider would cover the contributions of self-employed, land-based Overseas Filipino Workers (OFWs), or voluntary members.
“A contribution subsidy provider could be a private or government individual or group willing to subsidize the SSS contributions of identified members,” Regino explained.
The SSS chief said that the pension fund would partner with potential contribution subsidy providers who are generous enough to shoulder the contribution payments of chosen SSS members for at least six months. They could become a coverage and collection partner of the SSS through an online Certification with “Undertaking or a Memorandum of Agreement.” For convenience, contribution subsidy providers can pay the SSS contribution subsidies in any SSS branch with tellering facilities or through an SSS-accredited collection partner.
“We want to provide SSS coverage to workers in the informal sector and land-based OFWs. These workers have the lowest social security coverage in our workforce, and they are among the most vulnerable sector in times of contingencies,” said Regino.
The SSS has been reaching out and encouraging them to continue paying their monthly contributions. However, the pension fund fully understands that it is challenging to pay their SSS contributions regularly because of intermittent income and varied work arrangements.
As an example, government agencies can subsidize the contributions of their job order workers since they are not covered by the Government Service Insurance System. Regino added that private institutions or multinational companies, as part of their corporate social responsibility, can shoulder the SSS contributions of self-employed informal sector workers or land-based OFWs who lost their jobs due to the pandemic.
“Subsidizing their SSS contributions is the greatest gift that we can give to a fellow Filipino. It will allow him to gain access to social security benefits which will serve as a cushion that they can rely on in times of emergencies and various contingencies,” Regino was quoted in the statement as saying.