500,000 employees to benefit from SSS

The pension fund has already collected contributions worth P1.81 billion from payments of employers who availed of the CPCP from March to September of this year. #SSScondonation

There are P3.88 billion condoned penalty from the P7.88 billion delinquencies of the 55,750 employers who availed of the CPCP.

CITY OF SAN FERNANDO, Pampanga – Around 500,000 employees of more than 55,000 employers who availed of the Contribution Penalty Condonation Program (CPCP) will now get to enjoy their benefits and privileges as active Social Security System (SSS) members of the pension fund.

According to SSS President and Chief Executive Officer Aurora Ignacio, the pension fund has already collected contributions worth P1.81 billion from payments of employers who availed of the CPCP from March to September of this year. He added that the total amount of contribution delinquencies collected under the CPCP is around P7.88 billion.

“We’re very happy that nearly half a million Filipino private workers will soon enjoy the seven benefits being offered by the pension fund as well as its short-term loan privileges as soon as their employers have fully remitted their contributions to SSS,” Ignacio said.

The official stated that active paying SSS members can avail of sickness, maternity, unemployment, disability, retirement, funeral, and death/ survivor benefits. A statistics from the agency revealed that there are P3.88 billion condoned penalty from the P7.88 billion delinquencies of the 55,750 employers who availed of the CPCP.

The stats revealed that there a total of 55,275 employers with less than 100 employees who availed of the CPCP that have P3.28 billion condoned penalties and P1.58 billion initial contribution collection.

The stats also revealed that there are 475 employers with more than 100 employees who availed of the program. These companies have waived penalties worth P597.64 million, including P227.74 million in initial contribution collection.

“Some of the employers who availed of the program paid in full while most of them chose to pay their obligations in installment of up to 48 months. We’re hoping that they will be responsible enough this time to pay their dues on time not only to regain their good standing with the SSS but also for their employees to reap the benefits of being a member of SSS,” Ignacio said.

“We will closely monitor those who have availed of the CPCP so that we can immediately notify them at the first instance of non-payment of their obligation,” she added.