Wednesday, January 27, 2010

SSS surpasses 2009 collection goal

The Social Security System (SSS) office exceeded its 2009 goal with P102,900,327.89 actual collection in members’ contribution, a big feat compared to last year’s P94,412,786.14

Godofredo Martinez, branch head, said this sterling achievement by their office can be ascribed to the hard work of all his staff and the members, as well, for enlisting with SSS to avail of its benefits.

SSS benefits include sickness, disability, retirement, maternity, death and funeral and the so-called Employees’ Compensation (EC) program, which assist workers who suffer work-connected sickness or injury resulting in disability or death.

Martinez added that their painstaking efforts in educating the public about the benefits of SSS paid off just as 2009 started with already P10,695,620.37 actual collections in January, up from their P7.8 million target.

This achievement was replicated in July and October with an all time 7.88% and 7.95% rate increase, respectively, as compared to the other months in 2009.

From March until November, the SSS collected an average of P8 million every month, way above their monthly target, Martinez said, as he revealed that their office has raised some 100,601 members to date, of which 6,781 are employee-members or household employers and 37,347 are self-employed (SE) or voluntary members (VM).

SSS defines a self-employed person as those with an income of at least P1,000 a month, regardless of trade, business or occupation, and not over 60 years old.

These are the self-employed professionals, business partners, single proprietors and board directors, actors, actresses, directors, scriptwriters and news reporters who are not under an employer-employee relationship, professional athletes, coaches, trainers and jockeys, farmers and fisherfolks; and workers in the informal sector such as cigarette vendors, watch-your-car boys, hospitality girls, among others.

As to collections in contributions delinquencies, this was pegged at P5,011,716.62 while a total of P16,141,400.21 were collected for both current and delinquencies in member loans, still upbeat as compared to 2008 statistics.

Total SE/VM and Overseas Filipino Workers (OFW) remittances for 2009, meanwhile, was listed at P32,411,659.30 as Martinez said total contributions and loan amortizations was listed at P119,123,089.17, a 10.87% over from 2008’s P107,442.371.31. Part of this are real estate loans (REL) amounting to P81,361.07.

Martinez concluded that SSS will continue to be responsive to its members’ needs and with its commitment to extend social security protection to workers and their beneficiaries, will further strive to surpass its goals for the current year.