SSS Exploits Microfinance Institution for the Benefits of Vulnerable Workers

Social Security System held an event entitled “SSS: Unites with Advancing Social Protection for Informal Sector Workers.” The Local Government Units (LGUs), National Government Agencies (NGAs), organizations, and together with approximately 100 representatives from 50 cooperatives joined the state-run.

The multi-sectoral event was conducted by the president to search for potential partners to provide benefits to remote workers.

According to SSS President and Chief Executive Officer Aurora C. Ignacio, the most vulnerable sectors of the economy workers and self-employed workers need protection from the peril of income loss caused by retirement, sickness, and death.

SSS represents Securities and Exchange Commission-Microfinance Institutions (SEC-MFI) and the agencies of the Department of Agricultural, including Bureau of Fisheries and Aquatic-Resources (BFAR).

On behalf of PCEO Ignacio last September 30, SSS Executive Vice President for Branch Operation Sector Judy Frances A. See stated during the event the struggles of Filipino farmers and fisherfolks during the economic jeopardy when the rapid climate change, pests, and diseases occur. According to See, SSS invited the government agencies to see the status of these workers who feed 104.9 Filipinos and, hopefully, help to reach their advocacy.

Sambayanan ni Maria Multi-Purpose Cooperative President and Chief Executive Officer Angelita S. Ramos and SEDPI Development Finance Inc. President Mariel Vincent A. Rapisura shared the best practices to execute on the program. The discussion of the orchestration of the platforms was conducted by the Cooperative Development Authority Executive Director Ray R. Elevazo, CSEE. These became the forum’s highlight.

Ignacio showed his gratitude to the accredited partner agents to make the respective member’s SSS services provision take place. He then thanked the 50 cooperative attendees for joining the forum and working together in unity to achieve the mutual goal of protecting the social security of every Filipino.

Providing social security to each SSS member became possible through the SSS Partner Accreditation (PA) Program since 2012. Partners include the microfinance institutions (MFIs) and cooperatives. They work to exploit the programs for the member’s benefits together.

The servicing partner agents receive the member’s applications for SSS registration, salary loans, and funeral benefits, while the collecting partner agents gather the collections of loan amortization, SSS contributions, and other miscellaneous payments. These agents work together to bring smooth transactions the two parties.

The SSS has 27 accredited partners from Luzon, 11 from Visayas, seven to Mindanao, and one from NCR, a total of 54 partnerships for bringing convenience to SSS members.

A total of 48 accredited PAs collection is worth P63.61 million, starting from January to August 2019. The 50 accredited servicing PAs assisted 2,250 transactions.

Aside from this latest NCR event conducted by SSS, three more forums are yet to happen in Tacloban Leyte, Calamba Laguna, and Cauayan Isabela. These multi-sectoral forums started since 2017 for the improvement of services and provision for both private sector and employed workers.

More news and updates from this recent event will be advised to all SSS members. Unheard and vulnerable workers finally had their rights in terms of social security despite economic shortage and negligence.