SSS unveils saving schemes

Members of the pension fund Social Security System (SSS) can now boost their retirement and savings.

SSS president and CEO Rolando Ledesma Macasaet said SSS renamed the Worker’s Investment and Savings Program (WISP) and WISP Plus into the MySSS Pension Booster to reflect the primary goal of the savings program of boosting their retirement funds.

Macasaet in a press conference said through the MySSS Pension Booster program, there is a projected 7.2 percent annual return rate.

Macasaet said the MySSS Pension Booster savings schemes were part of the reforms introduced by Republic Act 11199 or the Social Security Act of 2018, sponsored by Finance Secretary Ralph Recto during his tenure as a senator.

Landmark measure

“We want to thank Secretary Recto for helping pass this landmark legislation in 2019. We also want to acknowledge him for conceptualizing these retirement savings schemes, which we rebranded today as MySSS Pension Booster. So, we are grateful that he pushed for the inclusion of the program in the law, which is boosting the retirement funds of millions of members,” Macasaet said.

Aside from being the Finance secretary, Recto also serves as the chairperson of the Social Security Commission, the highest governing body of the SSS.

Macasaet emphasized the importance of early retirement planning during the relaunching event of the MySSS Pension Booster held today at the SSS headquarters in Quezon City, which was attended by maritime professionals, overseas Filipino workers, self-employed professionals and corporate executives.