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Website. www.sss.gov.ph. The Social Security System (SSS; Filipino: Paseguruhan ng Kapanatagang Panlipunan) is a state-run, social insurance program in the Philippines to workers in the private, professional and informal sectors. SSS is established by virtue of Republic Act No. 1161, better known as the Social Security Act of 1954.
The unemployment benefit of the SSS also covers the kasambahay (housemaids) as well as Overseas Filipino Workers (OFWs; Filipino migrant workers).Claimants should have made 36 monthly contributions to the SSS, 12 months of which should be in the 18-month period immediately preceding the month of involuntary separation.
The Home Development Mutual Fund (HDMF), commonly known as the Pag-IBIG (Pagtutulungan sa Kinabukasan, Ikaw, Bangko, Industriya at Gobyerno) Fund, [a] is a government-owned and controlled corporation under the Department of Human Settlements and Urban Development of the Philippines responsible for the administration of the national savings program and affordable shelter financing for Filipinos.
The new payment amounts in 2023 will reflect an increase of 8.7%, which is the highest adjustment the Social Security Administration has offered since 1981, and is the fourth biggest COLA in the ...
Employers pay a contribution on top of the pre-tax income of their employees, which together with the employee contribution, fund the scheme. The maximum unemployment benefit is (as of March 2009) 57.4% of €162 per day (Social security contributions ceiling in 2011), or €6900 per month. [ 28 ]
Welfare spending. Welfare spending is a type of government support intended to ensure that members of a society can meet basic human needs such as food and shelter. [1] Social security may either be synonymous with welfare, [a] or refer specifically to social insurance programs which provide support only to those who have previously contributed ...
In the United States, Social Security is the commonly used term for the federal Old-Age, Survivors, and Disability Insurance (OASDI) program and is administered by the Social Security Administration (SSA). [ 1 ] The Social Security Act was passed in 1935, [ 2 ] and the existing version of the Act, as amended, [ 3 ] encompasses several social ...
SSO is a non-governmental organization and it is solely financed by contributions (with the participation of insured (7%), employer (20–23%) and government (3%)). [ 3 ] [ 7 ] [ 8 ] Social protection is extended to the self-employed workers, who voluntarily contribute between 12% and 18% of income depending on the protection sought.