Over the years, the SSS (Social Security System) has made great advancements the way it operates, provides services and handles its finances. Though there have been difficulties along the way, it has faithfully adhered to its duties and responsibilities. And hand in hand with prudent fund management, the SSS has endeavored to provide the best possible service to members.
SSS Membership
SSS continues to expand its membership coverage especially in the vulnerable and hard-to-reach sectors. As of November 2011, membership numbers reached 29.2 million. Employers meanwhile totaled 895,000.
During the second half of 2011, the SSS launched the OFW Information Caravan, a program to widen SSS coverage in the Middle East and Europe where many Filipinos contract workers are based. Two teams of SSS officials and Social Security Commissioners visited ten (10) cities in 8 countries to touch-based with OFWs and identify how they can be better serve. Exploratory talks are also made for the possible conclusion of bilateral Social Security Agreement between the Philippines and Denmark.
SSS Contribution Collections
SSS Contribution Collections continued to surge in 2011 reaching 79 billion pesos by end of November which is 8% higher than the collections on the same period of 2010. Ths noteworthy performance is the result of intensified collection efforts. For example, the SSS started accrediting cooperatives as its collecting agents to help self-employed and voluntary members pay regular contributions and remit loan payments on time.
SSS Legal Actions
On the legal front, the SSS continues to go after negligent employers with 1,101 cases filed in the courts and before the Social Security Commission (SSC) from January to November 2011. These legal actions resulted in demandable collections amounting to around P390 million.
Revised Payment Schedules
To provide more payment convenience to members, the SSS expanded the range of payment deadlines for contributions and loan remittances of members and employers also as a way to eliminate month dues during payment deadlines.
SSS Benefit Payments
From January to November 2011, SSS benefit payments totaled 76 billion pesos, higher by 6.8% from the 2010 benefit payouts of 71 billion pesos on the same period.
While SSS has never failed to give members their due benefits, the largest percentage of which are retirement and death claims, it also continues to undertake measures in strengthening control in benefit payments and preventing fraud in benefit claims.
SSS Investment and Other Income
Investment and other income from January to November 2011 reach over 27 billion pesos, 5.4% higher than the previous year and thereby increasing SSS assets to 320 billion pesos. As means to recover investments in short-term
member loans, the SSS in January 2011 offered employers a Penalty Condonation Program for unremitted loan amortizations of their employees.
The 6 months-long program resulted in the collection of about 1.08 billion pesos worth of delinquency payments from 13,776 employers. As a result, a total of 144,945 employees regained their eligibility to renew their SSS Salary Loan and around 717 million pesos in total of penalties were written of.
Bottomline, 2011 was another landmark for SSS in terms of Financial Performance.
SSS Net Revenues
Net Revenues as of November 2011 totaled 23 billion pesos which is 9.6 higher than the net income of the same period of 2010.
For almost a decade now has been slowly but surely threading the path towards reforms that would effectively extend the life of the Social Security to perpetuity.
Towards this end, the SSS conducted consultative meeting with its various stakeholders throughout 2011 and explaining the funds to increase the 10.4% contribution rate to 11% and the 15,000 pesos maximum monthly salary credit to 20,000 pesos. Doing so would add 7 years to SSS fund life and enable the SSS to provide higher benefit amounts to its members and pensioners.
SSS ARMS System Overview
The SSS implemented the Automated Records Management System (ARMS) which involves the scanning and digitizing the members documents to ensure their functionality and accessibility thereby also improving database integrity while preserving the actual documents.
The improved SSS website aims to spare the members the time and effort in going to an SSS branch for basic inquiries or to file benefit claims or loan applications. Through the website, members can now submit salary loan applications maternity notifications, view and print their records, set appointments with their servicing branch and download forms. Employers can now also view and print their records, certify their employee salary loan applications and submit some transaction reports online. For household employers, they can now also submit the collection list of their house helpers
online.
The SSS website has a total of 1.36 million registered users as of year-end 2011 and over 20,000 are employers.
Computerworld Publishing, a US-based global media firm recognized the Text SSS service among its 2011 honors laureatte program which commends organizations to create and use information technology to promote and advance the public welfare, benefit society and change the world for the better.
After more than a year of suspension of the production of the SSS biometric card, the SSS started the production of the issuance of the UMID (Unified Multi-Purpose) Card in July 2011. By year-end, the SSS was able to eliminate the 700,000 backlog of ID applications from 2008 to 2010.
Organizational restructuring and streamlining also allow the SSS to deliver timely, prompt and high quality services to its members.
ISO-9001 Certification
SSS President and CEO Emilio de Quiro Jr. received the ISO-certification from a third party ISO certifying body through the SSS 54th Anniversary celebration on September 1, 2011.
Since 1957, the SSS has followed its mandate of providing meaningful protection to Filipinos worldwide. It will persevere to carry this out and to be the country's unwavering partner for sustainable growth and development.
Now as it enter its 55th year in 2012, the SSS shall remain the country's champion in social security or responding to the call for transformational change in the government service.
Reference: sss.gov.ph
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