SSS expands, loan, money channels

By Christian Andrew Rillorta

The Social Security System (SSS) renewed its partnership with the Development Bank of the Philippines (DBP) to expand its benefit and short-term loan disbursement channels.

Through the said partnership, SSS-qualified employers, members, and pensioners may now receive benefits and short-term loan proceeds through the Philippine Electronic Fund Transfer System and Operations Network (PESONet) participating banks.

Qualified members and pensioners may now also receive SSS benefits through e-wallets such as PayMaya or cash pick-up arrangement via DBP Cash Padala Thru M Lhuillier, a Remittance Transfer Company/Cash Payout Outlet.

SSS president and CEO Aurora C. Ignacio said the enhanced disbursement process is already implemented for Unemployment, Funeral, Sickness, and Maternity Benefits, and Salary, Calamity, and Emergency loans, however, the said short-term loans might only be disbursed thru PESONet participating banks.

Starting in October 2020, monthly pensions will also be released through the said method.

"With our strengthened partnership with DBP on PESONet disbursements, we are hoping to expedite the releases of benefits and short-term loans. Upon its full implementation, eliminate disbursements via checks," Ignacio said.

             The SSS urges qualified payees and member-borrowers to enroll their disbursement accounts through the Bank Enrollment Module (BEM) found under the E-services tab of their respective My.SSS accounts on the SSS website (www.sss.gov.ph).

Qualified payees and member-borrowers must select their preferred PESONet participating bank, e-wallet, or RTC/CPO and supply a valid and active bank account number, or mobile number for an e-wallet or RTC/CPO.

Bank account numbers must be entered as a continuous string of numbers, while mobile numbers must be in its 11-digit format that starts with 09. Qualified payees and member-borrowers are reminded to ensure the correctness of their disbursement account information in the BEM before enrolling them.

"We are continuously transforming our services into digital processes for our members and the public to transact with us without having to go to our branches. Aside from its convenience, this also serves as a safety measure given the current pandemic situation," Ignacio said.

The SSS has also implemented the mandatory online submission via the My.SSS portal of Maternity Notification and Sickness Notification (for employers); and filing of applications for Unemployment Benefit, Funeral Benefit of SSS-member claimants, Sickness Benefit Reimbursement Claims of employers, Salary Loans, and Calamity Loans.

The online filing of Retirement Benefit applications through the said portal is also required for all members who are at least 65 years old, and for land-based OFWs and voluntary members who are 60 to 64 years old, upon the filing of retirement claim.

For further information, members and employers may call the SSS' hotline at 1455 and follow the SSS Facebook page at Philippine Social Security System.