Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
Scribd Logo
Upload

Welcome to Scribd!

  • 40 views

    Social Security System

    Uploaded by

    Alvin Hallarsis
    The Social Security System (SSS) is a social insurance program in the Philippines that provides coverage for workers in private, professional, and informal sectors. SSS benefits include cash benefits for sickness, maternity, disability, retirement, death, and funeral, as well as an Employees' Compensation program. Covered under SSS are private employees, household helpers, Filipino seafarers, employees of foreign governments in the Philippines, self-employed individuals, and employers with Filipino workers.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd

    Social Security System

    Uploaded by

    Alvin Hallarsis
    40 views14 pages
    The Social Security System (SSS) is a social insurance program in the Philippines that provides coverage for workers in private, professional, and informal sectors. SSS benefits include cash benefits for sickness, maternity, disability, retirement, death, and funeral, as well as an Employees' Compensation program. Covered under SSS are private employees, household helpers, Filipino seafarers, employees of foreign governments in the Philippines, self-employed individuals, and employers with Filipino workers.

    Original Title

    2. SSS

    Copyright

    © © All Rights Reserved

    Available Formats

    PPTX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The Social Security System (SSS) is a social insurance program in the Philippines that provides coverage for workers in private, professional, and informal sectors. SSS benefits include cash benefits for sickness, maternity, disability, retirement, death, and funeral, as well as an Employees' Compensation program. Covered under SSS are private employees, household helpers, Filipino seafarers, employees of foreign governments in the Philippines, self-employed individuals, and employers with Filipino workers.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    40 views14 pages

    Social Security System

    Uploaded by

    Alvin Hallarsis
    The Social Security System (SSS) is a social insurance program in the Philippines that provides coverage for workers in private, professional, and informal sectors. SSS benefits include cash benefits for sickness, maternity, disability, retirement, death, and funeral, as well as an Employees' Compensation program. Covered under SSS are private employees, household helpers, Filipino seafarers, employees of foreign governments in the Philippines, self-employed individuals, and employers with Filipino workers.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 14

    SOCIAL SECURITY SYSTEM

    Social Security System 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 Social Security Act of 1954.
    This law was later amended by Republic Act No
    8282 in 1997.
    2 type of programs
    1. The Social Security Program
    2. The employees Compensation
    SUMMARY OF
    BENEFITS
    Who are covered under the SSS?
    COMPULSORY COVERAGE

    1. Coverage of Employees
    a. A private employee
    b. A household-helper
    c. A Filipino seafarer
    d. An employee of a foreign government, international organization of
    their wholly-owned instrumentality based in the Phils.
    e. The parent, spouse or child below 21 years old of the owner of a
    single proprietorship business
    SUMMARY OF
    BENEFITS
    Who are covered under the SSS?
    COMPULSORY COVERAGE

    2. Coverage of Employers

    a. Any person who uses the services of another


    person in business, trade, industry or any undertaking.

    b. A foreign government, international organization such as


    embassy in the Philippines
    SUMMARY OF
    BENEFITS
    Who are covered under the SSS?
    COMPULSORY COVERAGE

    3. Coverage of Self-employed Persons


    a. Self-employed professionals
    b. Business partners, single proprietors
    c. Actors, actresses, directors, scriptwriters and news
    reporters are not under an employer-employee
    d. Professional athletes, coaches, trainers, and jockeys
    e. Farmers and fisherfolks
    f. Workers in the informal sector such as cigarette vendors etc..
    SUMMARY OF
    Sickness
    BENEFITS
    A daily cash allowance paid for the number of days a member is
    unable to work due to sickness or injury.

    AMOUNT
    The amount of the member’s daily Sickness Benefit
    allowance is equivalent to ninety percent (90%) of his/her
    average daily salary credit (ADSC).
    SUMMARY OF
    Maternity
    BENEFITS
    A daily cash allowance granted to a female member who is unable to
    work due to childbirth or miscarriage.

    AMOUNT
    The amount of the daily Maternity Benefit allowance is
    equivalent to one hundred percent (100%) of her ADSC,
    SUMMARY OF
    Disability
    BENEFITS
    A cash benefit granted – either as a monthly pension or a lump sum
    amount – to a member who becomes permanently disabled, either
    partially or totally.

    AMOUNT
    qualified member is granted a monthly Disability Pension,
    plus a P500 monthly Supplemental Allowance.
    SUMMARY OF
    BENEFITS
    Retirement
    A cash benefit granted – either as a monthly pension or a lump sum
    amount – to a member who can no longer work due to old age.

    AMOUNT
    Monthly Retirement Pension, plus a 13th Month Pension
    payable every December. OPTION of first eighteen (18) months
    pension in lump sum
    SUMMARY OF
    BENEFITS
    Death
    A cash benefit granted – either as a monthly pension or a lump sum
    amount – to the beneficiaries of a deceased member.
    AMOUNT
    Death Pension, plus a 13th Month Pension payable every December.
    The lowest monthly Death Pension is Credited years of service
    -10 =P1,000
    10 =P1,200
    20 =P2,400
    SUMMARY OF
    BENEFITS
    Funeral
    A cash benefit given to whoever paid for the burial expenses of the
    deceased member.

    AMOUNT
    The Funeral benefit is a variable amount ranging from a minimum of
    P20,000 to a maximum of P40,000, depending on the member’s paid
    contributions and CYS.
    SUMMARY OF
    BENEFITS
    EMPLOYEES’ COMPENSATION
    (EC) PROGRAM
    Cash Benefit for temporary sickness or disability, permanent partial or
    total disability, and death
    AMOUNT
    All SSS-registered employers and their employees are compulsorily
    covered under the EC Program and need not register again under the EC.
    SUMMARY OF
    BENEFITS
    Salary
    A cash loan granted to an employed, currently- paying self-employed
    or voluntary member. It is intended to meet the member’s short-term
    credit needs.
    AMOUNT
    A one-month loan is equivalent to the average of member’s last twelve (12)
    monthly salary credits (MSCs), A two-month loan is equivalent to twice the
    average of the member’s last twelve (12 ) MSC. The loan shall be charged an
    interest rate of ten percent (10%) per annum until fully paid, based on diminishing
    principal balance, and shall be amortized over a period of 24 months.

    You might also like