“Buy when everyone else is selling and hold when everyone is buying. That’s not just a catchy slogan. It’s the very essence of successful investing.”
-J. Paul Getty-
SSS enforces its mandatory online transaction and checkless disbursement
This photo was taken from: Facebook: Philippine Social Security System – SSS
On 21 September, the SSS said that online transactions and checkless disbursements are now mandatorily implemented through its system. This is to provide their members, employers, pensioners, and beneficiaries a faster, safer, convenient, and economical facility to register and submit applications and receiving proceeds and cash benefits from the SSS. This online facility aims to facilitate the ease of doing business within their organization and to continue its efforts towards digitalization that is rampant amidst COVID-19 Pandemic. The enhancement and expansion of the SSS facilities will benefit the transacting public by giving them a convenient facility and preventing the spread of coronavirus.
In order to proceed to process with online transactions, members, employers, and pensioners must have their own My.SSS account. Upon successful registration, they need to register their disbursement account through Disbursement Account Enrolment Module or Bank Enrolment Module in their My.SSS accounts.
With rampant financial digitalization, we need to understand the process of these online transactions to protect ourselves against potential fraud. Digitalization of transactions paved its way because of the COVID-19 Pandemic. We need to adapt to these changes because change is constant. Hence, nothing lasts forever.
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