The Social Security System (SSS) has released P90.52 billion worth of social security and employees compensation (EC) benefits during the first five months of the year.
The amount benefited around 3.46 million members, pensioners and their beneficiaries, SSS said in a statement yesterday.
Benefit disbursements from January to May 2021 were higher by 13.3 percent from P79.93 billion during the same period a year ago, it added.
“Along with the rapidly increasing membership base is the constant rise of benefit releases to our qualified members, pensioners and beneficiaries,” said Aurora Ignacio, SSS president and chief executive officer, who reminded member-employers of their primary responsibility of reporting their workers and remitting their SS and EC contributions regularly to SSS.
Of the total benefit releases, around 99 percent or P89.92 billion were for social security benefits while the remaining P608 million were for EC benefit disbursements.
Retirement payouts amounting to P53.74 billion represent 60 percent of the entire benefit disbursements, covering over 1.81 million pensioners.
SSS also disbursed 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.
Under the EC program, 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 SS benefits, employed and self-employed members are also entitled to receive EC benefits in case of work-related sickness or injury, disability or death,” Ignacio said. – Angela Celis
