The Social Security System (SSS) said more than 8,000 SSS members can now pay their monthly contributions through their respective cooperatives after it signed partnership deals with two additional cooperatives in Antique province.
SSS president and chief executive Rolando Ledesma Macasaet said the SSS signed an agreement with Belison and Hamtic Multi-Purpose Cooperatives (MPC) on July 9, 2024 that would allow them to accept contribution payments and facilitate the online transactions of their members who are also SSS members.
Under the SSS accreditation program for cooperatives, Macasaet said that authorized cooperatives could collect and remit the SSS and employees’ compensation (EC) contributions, adding that “their members can also pay their monthly loan amortizations through this arrangement.”
“Establishing durable partnerships with cooperatives is crucial in securing the active SSS membership of our members as well as in fulfilling member-borrowers’ responsibility to pay their monthly amortizations regularly,” Macasaet said.
Aside from being SSS collection partners, they are also authorized to facilitate selected SSS transactions such as membership and My.SSS registrations, disbursement account enrollment and online submission of benefit and loan applications.
“In providing such assistance to its members, the cooperatives may claim a service fee of P6 from SSS for every processed and approved transaction,” Macasaet said.
He said more than 2,000 co-op members who do not have SSS membership would be registered as SSS members as part of the agreement.
