The Department of Social Welfare and Development (DSWD) will sign on Monday a memorandum of agreement with the Social Security System (SSS) for a low-cost social insurance for the beneficiaries of the Pantawid Pamilyang Pilipino Program (4Ps).
“The DSWD is fortunate to collaborate with the state-run SSS. This partnership with SSS will extend social security coverage to our 4Ps beneficiaries, providing them with safety nets from income loss, sickness, and other financial burden,” said Assistant Secretary and spokesperson Irene Dumlao.
The partnership is called ‘4Ps AlkanSSSya Program,’ establishing a contribution subsidy table specific for the 4Ps organized groups upon the determination of SSS, based on actuarial study and the actual capacity of the beneficiaries to pay the minimum amount of P570 per month.
The SSS monthly premium will be shouldered by the beneficiaries themselves. The 4Ps beneficiaries, who are members of workers’ associations, informal sector groups and sustainable livelihood program associations are also be covered under the partnership.
“It is necessary that our 4Ps beneficiaries are educated on the importance and benefits of SSS membership and savings. This also contributes to our financial literacy efforts among our beneficiaries,” Dumlao said.
4Ps national program manager and director Gemma Gabuya said the insurance is integral to the DSWD’s Social Welfare and Development Indicator Framework.
“Before graduating from 4Ps, it is crucial for beneficiaries to have security or insurance,” she said.
4Ps, one of the DSWD’s flagship programs, is a national poverty reduction strategy institutionalized under Republic Act 11310 or An Act Institutionalizing Pantawid Pamilyang Pilipino Program signed on April 17, 2019.
It puts a premium on giving poor and vulnerable families the means to break-away from the intergenerational cycle of poverty through human capital investments.
As of May 31, there are 4.3 million household-beneficiaries nationwide that are receiving conditional cash grants under the program.
