The Social Security System was able to disburse P90.52 billion worth of Social Security and Employees Compensation benefits during the first five months of 2021 with 3.46 million members, pensioners, and their beneficiaries.
“Along with the rapidly increasing membership base is the constant rise of benefit releases to our qualified members, pensioners, and beneficiaries. This only shows that SSS remains true to its mandate of providing meaningful social security benefits to all working Filipinos, especially during times of contingencies,” president and chief executive officer Aurora Ignacio said in a statement.
Benefit disbursements from January to May 2021 were higher by 13.3 percent from P79.93 billion during the same period a year ago, the agency said.
Out of the total benefit releases, 99 percent or P89.92 billion went to the social security benefits.
The balance of P608 million went to EC benefit disbursements.
Under the EC program, the SSS also distributed P426 million death benefits to 16,492 beneficiaries, P78 million disability benefits to 2,044 members, P98 million sickness benefits to 11,663 members, P2 million for medical services to 393 members, and P3 million in funeral benefits to 114 claimants.
Retirement payouts of P53.74 billion represented 60 percent of the entire benefit disbursements, benefiting more than 1.81 million pensioners.
The SSS also released P23.72 billion in death benefits to 1.08 million claimants, P2.44 billion in disability benefits to 97,258 members, P5.99 billion maternity benefits to 157,132 female members, P1.44 billion in sickness benefits to 147,210 members, P1.96 billion funeral benefit to 84,530 claimants, and P642 million unemployment benefits to 47,764 members.
The SSS also distributed P426 million death benefits to 16,492 beneficiaries, P78 million disability benefits to 2,044 members, P98 million sickness benefits to 11,663 members, P2 million for medical services to 393 members, and P3 million in funeral benefits to 114 claimants.
“On top of the regular SSS benefits, employed and self-employed members are also entitled to receive EC benefits in case of work-related sickness or injury, disability or death. This is why we always reiterate in our promotional campaigns the primary responsibility of our member-employers, which is to report their workers and remit their SS and EC contributions regularly to SSS,” Ignacio said.
Effective July 2020, benefit proceeds are released through disbursement accounts under PESONet participating banks, e-wallet, or remittance transfer companies, cash pick-up outlets, or through Unified Multipurpose Identification card enrolled as ATM card.