The Social Security System (SSS) reported a 20.2 percent hike year-on-year in the number of self-employed and voluntary members to 8.43 million as of May 2021.
Of the 40.52 million total covered SSS members as of May, about 8.3 percent or 3.36 million are self-employed, while 12.5 percent or 5.07 million are voluntary members, the pension fund said in a statement yesterday.
Aurora Ignacio, SSS president and chief executive officer, said the double-digit jump in voluntary and self-employed membership is a clear indicator that more individuals recognize the value of SSS coverage, particularly the benefits and privileges the pension fund offers, more than ever during these challenging times.
“It is also important for SSS to focus our promotion to self-employed professionals and non-working spouses who are not yet SSS members, as well as employees who were separated from employment, so that they can benefit from social protection. Being part of the 3.73 million unemployed individuals, they are deemed as the most vulnerable members of the society. SSS coverage is the most affordable form of social security they can avail of,” Ignacio said.
“While mobility is affected as a result of community quarantines and lockdowns, the pandemic did not stop SSS in its campaign for universal coverage, especially for those in the informal sector,” she added.
A self-employed member should not be over 60 years old and has no employer other than himself/herself, and derives a monthly income of P3,250 below from trade, business or occupation.
A voluntary member, meanwhile, could either be a non-working spouse of an SSS member or a separated member.
Those separated from employment or have ceased to be self-employed, an overseas Filipino worker, or a non-working spouse but intends to continue paying SSS contributions on his/her own account, fall under this category.
Regularly paying, self-employed and voluntary members are entitled to the same social security benefits such as sickness, maternity, disability, retirement, death and funeral benefits.
They are also qualified to avail of member loans for salary, calamity and educational assistance as well as pension loan once they become retiree-pensioners.
“Like covered employees in the private sector and household workers, self-employed members are now covered as provided in the employees’ compensation program and now have additional benefits in the event of work-related contingencies such as sickness, injury, disability or death,” Ignacio said. – Angela Celis
