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SSS funeral benefits drop 27% last year

State-run Social Security System (SSS) said its funeral benefit disbursements dropped last year due to the prolonged nationwide implementation of community quarantine measures. In a statement, Aurora C. Ignacio, SSS president and chief executive officer said the pension fund disbursed P3.07 bill

SSS extends deadline for new pension payment methods

Published May 10, 2021, 4:20 PM State-run Social Security System (SSS) announced on Monday, May 10, that it has extended the deadline for pensioners’ compliance with the new disbursement methods for monthly pensions. Aurora C. Ignacio, SSS president and chief executive officer said the mandatory use of the Philippine Electronic Fund Transfer System and Operations Network (PESONet) and other checkless disbursement channels has been extended to September 30, 2021. Ignacio said the extension from its original March 31, 2021 deadline aims to provide pensioners more time to shift their disbursement accounts to participating banks or e-wallets under the PESONet or Remittance Transfer Companies/Cash Payout Outlets (RTCs/CPOs).

SSS releases P33 4-B calamity loans, unemployment insurance benefits

Published March 12, 2021, 1:48 PM State-run Social Security System (SSS) has released P33.4 billion in calamity loans and unemployment insurance benefits (UIB) last year in support of government efforts to mitigate the economic shock of the COVID-19 pandemic on wage earners. In a report submitted to Finance Secretary and Social Security Commission Chairman Carlos G. Dominguez III, the pension fund said they released P31.69 billion in calamity loans for 2.12 million member-borrowers, and P1.71 billion in UIB for 136,000 claimants were disbursed in 2020. Of the total calamity loans, SSS released P30.47 billion in salary loans for 1.28 million members, and extended pension loans totaling P3.4 billion to 74,799 borrowers last year.

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