SSS extends coverage to 4Ps beneficiaries

CEBU, Philippines — The Social Security System (SSS) aims to provide social security protection to 4.4 million beneficiaries of the Pantawid Pamilyang Pilipino Program (4Ps) nationwide through its AlkanSSSya Program.

SSS president and chief executive officer Rolando Ledesma Macasaet and Department of Social Welfare and Development (DSWD) Secretary Rex Gatchalian recently inked a Memorandum of Agreement (MOA) that will allow 4Ps beneficiaries nationwide to become SSS members and have access to social security benefits.

In a statement, Macasaet said that through the agreement, SSS and DSWD will work together to protect the welfare of the most vulnerable sectors of society, including families benefiting from the Philippine conditional cash transfer program.

Under the agreement, Macasaet explained that SSS shall develop an AlkanSSSya Program specifically designed for 4Ps beneficiaries.

The program was established in 2011 as a micro-savings scheme for self-employed workers with irregular income, such as tricycle drivers, market vendors, farmers, fisherfolks, and other workers in the informal economy.

Macasaet disclosed that SSS is exploring several options to help 4Ps beneficiaries pay the P120 monthly contributions required to qualify for a lifetime pension when they reach retirement age.

Gatchalian said that the 4Ps beneficiaries’ contribution to the SSS will be voluntary because the cash grants cannot be used to pay their SSS contributions since it is intended for health, education, and rice subsidy.

Gatchalian added that DSWD will integrate the value of SSS membership during the 4Ps Family Development Sessions (FDS), an activity attended by 4Ps parents every month.

In these sessions, 4Ps beneficiaries share their knowledge and experience and promote learning on good parenting practices, financial literacy, and disaster risk preparedness, among others.

Macasaet said that SSS will discuss corporate social responsibility programs with businesses to subsidize the SSS contributions of 4Ps beneficiaries.

He also said that the SSS will study the possibility of reducing the minimum monthly SSS contribution from P570 to a much more affordable amount. However, Macasaet noted that a reduced monthly premium will result in a much lower benefit. Macasaet said another option is to pay a reduced monthly premium for a longer period than usual to receive a lifetime pension.

He said all these options are still at the exploratory stage, adding, “SSS and DSWD will still work on the implementing guidelines for the social security coverage of 4Ps beneficiaries.”