Payment of SSS benefits coursed through banks

>> Wednesday, February 5, 2014

By Carlito Dar

BAGUIO CITY - - The Social Security System (SSS) urged  employers to register in their sickness and maternity payment scheme through banks so reimbursement of members benefits claim can be expedited through banks.

SSS assistant vice president for North Luzon cluster Luis Olais said the program will address concern on longer period in releasing claims  wherein the  usual process  is that   claim reimbursements  in the form of checks  are sent through Philpost.

The  new program will involve the remittance by SSS of sickness and maternity reimbursements to the employer’s designated SSS-accredited bank, which in turn shall be credited to the employer’s savings or current account.

Olais said employers are not automatically enrolled in this program and are required to enroll by accomplishing the official enrollment form that is  available in any SSS branch, SSS – accredited bank and the SSS website.

 Employers must submit the accomplished form (in two copies) to the participating banks where they have  existing saving or current account and the bank shall certify the correctness of the bank account information and shall forward the application form to the SSS.

Under the program, there are already 25 participating or SSS-accredited banks, namely: Land Bank of the Philippines, Phl National Bank, Phl Postal Savings Bank, Phl Savings Bank, Phl Veterans Bank, Union Bank, Standard Chartered Banking Corporation, Security Bank, Rizal Commercial Banking Corporations (RCBC), RCBC Savings Bank, Al-Amanah Islamic Investment Bank of the Phl, Allied Banking Corp., Asia United Bank, Bank of Commerce, Bank of Philippine Islands, Century Savings Bank, China Banking Corp., Citystate Savings Bank, Country Rural Bank of Taguig Inc., Eastwest Bank, Maybank, Metropolitan Bank and Trust Company, Philippine Bank of Communications, Philippine Business Bank, and Rural Bank of Pililia Inc..

“Through the program, SSS aims to improve efficiency in the delivery of sickness and maternity benefit payments through a fast and simplified payment system, elimination of the delay in the delivery and clearing of checks, avoidance of loss of checks due to mis-delivery or pilferage and by providing convenience in the withdrawal of benefit payments”, Olais said.


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