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Significant developments in SSS benefits and loans to members this year:
✅The implementation of RA 8558, granting retirement benefits to underground mine workers at the age of 55.
✅The opening of a ₱3-billion housing loan facility for OFWs and trade union members...
#SSSat65
Two major events highlighted the SSS’ 40th year:
✅ Social Security Act of 1997 (Republic Act No. 8282) was enacted.
✅ The SSS transferred administration of the Medical Care Program to Philippine Health Insurance Corporation (PHIC). #SSSat65
To raise service delivery standards, the SSS launched the “Serbisyong W.O.W. - Wasto, nasa Oras, World-Class.” Pensions were increased by 10% in September. #SSSat65
To promote wider access to social security protection, the SSS coverage of the self-employed was expanded to include non-working spouses of SSS members and all self-employed persons earning ₱1,000 or more a month, effective October 15, 1995.
#SSSat65
A LOOK BACK: In 1992, the SSS embarked on computerization thru the Document Management System-Image Technology (DMS-IT). #SSSat65
A LOOK BACK: On top of computerization and decentralization as priority projects, SSS also focused on widening social security coverage and higher benefits. #SSSat65
From 1986 to December 1989, a total of ₱24.2 billion worth of benefits and loans were disbursed to SSS members. The tremendous increases during this four-year period were on account of the better benefit packages and the conduct of intensive information drive. #SSSat65
A LOOK BACK: From January to December 1988, the SSS paid out a record high of ₱7.175 billion in benefits and loans to members, exceeding by ₱2.513 billion or 54% the ₱4.662 billion paid out in 1987, and by 139% or ₱4.175 billion the ₱3 billion paid in 1986. #SSSat65
A LOOK BACK: The SSS disbursed a total of ₱2.535 billion in benefits for 1987 – an increase of 38.55% higher than ₱1.830 billion in benefits paid for 1986 – to 1,578,358 275 retirement, death, disability, sickness, and maternity beneficiaries. #SSSat65
A LOOK BACK: The SSS disbursed a total of ₱1.829 billion in benefits for 1986 – an increase of 19.5% over the ₱1.531 billion in benefits paid for 1985 – to 1,549,064 beneficiaries. #SSSat65
A LOOK BACK: In 1985, the SSS disbursed a total of ₱1.5 billion in benefit payments, up by 16.4% from the ₱1.3 billion disbursed in 1984. #SSSat65
A LOOK BACK: In June 1984, a 15% pension increase took effect, the latest in a series of yearly adjustment which saw pensions increasing by 20% in 1980, 1981, and 1982. #SSSat65
A LOOK BACK: In 1983, the SSS paid out some ₱1.174 billion in benefit payments. SSS benefits during the year have exceeded the minimum standards set by the International Social Security Association (ISSA). #SSSat65
A LOOK BACK: For 25 years since its founding, the SSS disbursed a total of ₱5.2 billion in benefit payments covering some 12.1 million claims. #SSSat65
A LOOK BACK: In 1981, payments climbed up by 20% to ₱791.5 million from ₱660.4 million worth of benefits paid in 1980. The huge jump was mainly due to the 20% across-the-board increase in pension benefit effective June 1, 1981. #SSSat65
A LOOK BACK: Since early 1980s the SSS has pursued the establishment of social security agreements (SSAs) with other countries that host Filipino migrants. The first SSA, previously called Convention, was signed between the Philippines and Austria on December 1, 1980. #SSSat65
A LOOK BACK: An important amendment to the Social Security Law was the compulsory coverage of certain groups of self-employed persons under Presidential Decree No. 1636, which took effect on January 1, 1980.
#SSSat65
It was a momentous event, which demonstrated the progress attained by the Philippine Social Security program as a role model for social security systems in other developing countries. ISSA is an organization of social security institutions throughout the world. #SSSat65
A LOOK BACK: In 1980, the triennial meeting of the International Social Security Association (ISSA) was held in Asia for the first time, with the Philippines as host. #SSSat65
A LOOK BACK: In 1979 the Mag-Impok sa Bangko Program enabled 10,560 pensioner-participants to withdraw pensions promptly through any Philippine National Bank branch in Metro Manila.
#SSSat65
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