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SSS disbursed P 2.35B to jobless members as of June 2021

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Amid the pandemic-induced economic slump that shed millions of jobs, the state-run pension fund SSS disbursed a total of P2.35 billion in benefits to jobless members as of June this year. | bendeveraINQ

In a statement on Tuesday, Finance Secretary and Social Security Commission chair Carlos Dominguez III said that since the SSS’s unemployment insurance benefit was introduced under Republic Act No. 11199, or the Social Security Act of 2018, a total of P2.62 billion was released to qualified members who had been involuntarily unemployed since the law took effect in March 2019.

To date, a total of 196,021 SSS members had availed themselves of the unemployment insurance benefit. Out of these total releases and beneficiaries, the bulk were a result of the job losses inflicted by the COVID-19 pandemic.

 

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bendeveraINQ Cut 50% of your high-paying executives & their over rated allowances shift them to benifit their paying & retired members!......grrrrrrrr

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