The SSS-GSIS Pensyonado (SGP) Partylist stands in solidarity with the Social Security Service (SSS) in its move to provide social security protection to members of the Pantawid Pamilyang Pilipino Program (4Ps), the anti-poverty reduction program of the Department of Social Welfare and Development (DSWD).
Val Yutan, SGP Partylist spokesperson, said that the 4.4 million 4Ps household-beneficiaries –equivalent to 22 million individuals – who will choose to become SSS member-contributors are assured of being future pensioners after 120 months of contribution.
“Malaking tulong para sa mga kababayan nating 4Ps beneficiaries kung matutulungan natin silang makapaghulog sa SSS. Kailangan natin silang hikayatin maging miyembro para pagdating ng kanilang retirement age ay mayroon silang maasahang pensyon.” the Yutan said.
In a recent statement, SSS President and Chief Executive Officer (PCEO) Rolando Ledesma Macasaet has stressed how crucial it is for 4Ps beneficiaries to make monthly contributions to their SSS pension.
“Once they have paid at least 120 monthly contributions, they will no longer need financial support from the government because they will become qualified to receive a monthly pension from SSS upon reaching 60 years old.”, SSS PCEO Macasaet said.
Last July, SSS and the DSWD entered into a memorandum of agreement (MOA) that enables 4Ps beneficiaries to enroll as SSS members.
Under the MOA, the SSS will create an AlkanSSSya Program that takes into account the special needs of 4Ps beneficiaries.
The AlkanSSSya Program is a micro social insurance for self-employed workers with irregular income. It covers workers in the informal economy, including farmers, fisherfolks, market vendors, and tricycle drivers.
“We may also craft a special SSS contribution table for 4Ps beneficiaries tailored to fit their paying capacity considering the current minimum monthly contribution of PHP570,” SSS PCEO Macasaet added.
According to CEO Macasaet, the SSS will subsidize the monthly contributions of 4Ps beneficiaries with the help of businesses.
“We have a Contribution Subsidy Provider Program (CSPP), wherein a private or government individual or group can subsidize the monthly contributions of identified SSS members. We will pitch to companies willing to sponsor SSS contributions to subsidize the monthly premiums of 4Ps beneficiaries,” the SSS PCEO explained.
Furthermore, the SSS study if it can still lower the minimum monthly SSS contribution from PHP570 to an amount that 4Ps beneficiaries can easily afford.
“Our SSS Actuarial Team will check out if it is possible to have a lower monthly contribution specifically for 4Ps beneficiaries. For the poorest families like 4Ps recipients, paying P570 a month might already be a big amount. They might not be able to complete the minimum monthly contributions required to qualify for a lifetime pension,” SSS PCEO Macasaet explained.
The SSS President pointed out that a low monthly premium means a commensurately reduced pension benefit.
“Currently, SSS members who paid the minimum monthly premium of PHP570 for 120 months or 10 years will receive a lifetime pension of about P2,200 monthly. 4Ps beneficiaries who will be paying at a reduced monthly premium, let’s say for 120 months, will get a lifetime pension much lower than P2,200 per month,”SSS PCEO Macasaet said.
Fortunately, there are ways to raise the pension benefit. SSS PCEO Macasaet proposed an extended contribution period with the reduced monthly premium.
“SSS members who paid the minimum of PHP570 monthly contributions for 120 months shall receive a lifetime pension of PHP2,200 monthly. For 4Ps beneficiaries, we could lower their monthly premiums, but they must contribute much longer so they get the same amount of benefit. For example, 4Ps beneficiaries have to contribute for 180 months to get the minimum monthly pension of PHP2,200,” Macasaet said.
PCEO Macasaet clarified that SSS and DSWD are still working on implementing guidelines like the aforementioned extended contribution period.
“We will immediately work on the appropriate mechanism for registration, contribution collection, benefit claims, and other essential details needed to implement the program knowing the importance of SSS membership to 4Ps beneficiaries,” Macasaet said.
During the July MOA signing, DSWD Secretary Rex Gatchalian made it clear that the 4Ps beneficiaries cannot use their cash grants for their SSS contributions.
The 4Ps cash grant covers health, education, and a rice subsidy. Instead, the beneficiaries will make voluntary contributions to the SSS.
Furthermore, the DSWD will modify the 4Ps Family Development Sessions by integrating the importance of SSS membership and pension benefits into the monthly activity, encouraging 4Ps parents to enroll in the SSS.
