Social Security System president (SSS) and chief executive officer Rolando Macasaet and George Royeca, chief executive officer of Angkas, a motorcycle ride hailing firm, on Thursday signed a memorandum of agreement (MoA) that will give social security protection to active Angkas partner riders.
Macasaet said about 30,000 Angkas partner bikers operating in Metro Manila, Metro Cebu and Cagayan de Oro City will get SSS coverage, dubbed as “AngkaSSS na sa Protektadong Bukas,” which reflects the aim of SSS to provide social security coverage and old-age pension to all working Filipinos.
Under the agreement, Angkas will serve as authorized Coverage and Collection Partners of SSS, which will collect and remit the corresponding monthly contributions of its active partner bikers.
As self-employed members of SSS, Angkas partner riders will become entitled to receive SSS benefits such as sickness, maternity, disability, retirement, funeral and death.
Angkas will serve as authorized Coverage and Collection Partners of SSS, which will collect and remit the corresponding monthly contributions of its active partner bikers.
“They (ANGKAS drivers) may also apply for various SSS loan programs which include salary and calamity, among others,” Macasaet said.
“They can also get additional coverage from the Employees’ Compensation (EC) Program for work-related sickness, disability or death,” he added.
According to Macasaet, currently, the SSS contribution rate stands at 14 percent. The monthly salary credit used to determine the amount of monthly contribution ranges from P4,000 to P30,000 for self-employed members.
The lowest monthly contribution is pegged at P570, consisting of P560 for the regular SSS contribution and P10 for the EC contribution.
Macasaet said the highest monthly contribution is P4,230, composed of P2,800 for the regular SSS contribution, P30 for the EC contribution, and P1,400 for the mandatory MySSS Pension Booster.”
SSS also offers the voluntary MySSS Pension Booster as a program to boost your retirement funds and savings, which can provide a projected annual return rate of 7.2 percent.