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SSS members can make 'salary' or 'calamity' loans. Salary loans are calculated based on a member's particular monthly salary credit. Calamity loans are for instances when the government has declared a state of calamity in the area where an SSS member lives, following disasters such as flooding and earthquakes. [19]
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The payments are sourced from the country's Social Security System (SSS). [1] The benefits are not dispensed as a loan and thus does not incur additional fees to the claimant. [3] Until 2018, there was no unemployment benefit scheme for private employees.
Non-government employees, self-employed individuals, and non-working persons are not eligible for GSIS membership. Instead, they are covered by the Social Security System (SSS). Government employees may also voluntarily enroll in the SSS at their own expense, in addition to their GSIS membership.
The agency responsible for implementation is the Social Security System (SSS), and also the Government Service Insurance System (GSIS), the Philippine Health Insurance Corporation (PhilHealth), and the Pag-IBIG Fund (Home Development Mutual Fund) use the card. [3] The card was also suggested to be used as a voter ID. [4]
The first wave of Social Security claims resulting from the Social Security Fairness Act signed into law on Jan. 5 has been processed and checks are being sent, the Social Security Administration ...
The decentralization move had also allowed members to remit payments through authorized banks. Before the decentralization, members sent payments and membership applications through mail, or appear in person at the SSS head office in Diliman, Quezon City, a costly and time-consuming process especially for members from the provinces.
UnionBank is a joint consortium among the Aboitiz Group, Insular Life, and Social Security System. It started operations in 1981 and became a commercial bank on January 19, 1982. In July 1992, UnionBank was granted the license to operate as a universal bank.