7 Important Updates from SSS and PhilHealth You Should Read

“Financial peace isn’t the acquisition of stuff. It’s learning to live on less than you make, so you can give money back and have money to invest. You can’t win until you do this.”

-Dave Ramsey-

 

SSS reminds members to continue monthly contribution payments

This photo was taken from: Facebook: Philippine Social Security System

This photo was taken from: Facebook: Philippine Social Security System – SSS

Heads up, mga Kababayan in Kuwait! Despite the pandemic, SSS highlights the importance of members continuing to pay their monthly contributions in order to keep earning benefits and privileges.

SSS President and CEO Aurora C. Ignacio is urging both voluntary and involuntarily separated members to maintain their participation in the fund, as it will provide long-term benefits.

“We understand that times are difficult right now, but continuing your membership with SSS is one of the most practical decisions that you can make for yourself and your family. Consider your contributions as savings for today and an investment for your future,” Ignacio pointed out.

“Regularly paying members are entitled to social security benefits provided that they meet the qualifying conditions set for each benefit eligibility. It is essential that members stay updated on their payments to apply for benefits or loans,” Ignacio stated.

Last year, reported that three million members failed to pay their contributions due to temporary or permanent job loss caused by company closures. With the ongoing COVID-19 pandemic, informal or voluntary members may prioritize immediate needs, such as food and shelter.

“We do not want these members to lose the privilege of availing other benefits from SSS due to this situation. We have to convince them to come back, this time as voluntary paying members,” Ignacio emphasized.

 

PORTAL

These photos were taken from: Facebook: Philippine Social Security System – SSS

 

Attention all SSS members! Enhance your knowledge about SSS benefits in your own time, at your own pace, and for free! Introducing the ExpreSSS e-Learning (ExSSSel) Portal.

 

SSS outpaces investments benchmarks

This photo was taken from: Facebook: Philippine Social Security System – SSS

 

This photo was taken from: Facebook: Philippine Social Security System – SSS

SSS has outperformed investment benchmarks, generating over P32 billion by 2020. In 2020, itraised P32.47 billion in investment profits, with a 5.89% return on investment (ROI), surpassing key market indices like the 10-year Treasury bond and 364-day T-bill yields.

Despite the challenges posed by the pandemic, President and CEO Aurora Ignacio mentioned that the investment portfolio still produced steady earnings, although the previous year’s investment income of P40.97 billion was significantly higher.

 

P15 Billion Hindi Nawala!

The Philippine Health Insurance Corporation (PhilHealth) reported to the public that the controversial P15 Billion disbursed to the Interim Reimbursement Mechanism is not lost due to fraud or corruption.

In a press statement, PhiliHealth reiterates that the P15 Billion is properly reimbursed to 711 hospitals in the country as an aid for the pandemic and them to remain operational for patients needing medical attention.

PhilHealth also stressed that the reimbursement is properly accounted for. In fact, they stated that 95% of the P15 Billion are already liquidated to the hospitals and “it didn’t went to someone’s pocket.” [hindi ng bulsa ng sinoman]

You may refer to the picture below to give details on where does the P15 Billion disbursed through the Interim Reimbursement Mechanism went.

This photo was taken from: Facebook: Philippine Health Insurance Corporation

 

For more Interim Reimbursement Mechanism (IRM) liquidation updates, you may visit https://www.philhealth.gov.ph/irm/#gsc.tab=0

 

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