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SSS is a state-run, social insurance program for workers in the private, professional and informal sectors in the Philippines. It provides benefits for death, funeral, maternity, disability, retirement, sickness, unemployment and loans.
The provisions on unemployment benefits were dropped when the legislation was amended in 1957 to prioritize retirement, sickness, disability and death benefits. [ 4 ] Under the 2018 legislation, the benefits are dispensed through a one-time payment to equal to 50 percent of the claimant's monthly salary for a maximum of two months.
GSIS is a Philippine social insurance institution that covers government workers and provides life, retirement, separation and disability benefits. It also administers the General Insurance Fund and has investments in various sectors.
Pag-IBIG Fund is a government-owned corporation that administers the savings program and affordable housing financing for Filipinos. It covers all Filipino citizens who are or ought to be covered by the Social Security System, and offers various benefits and loans to its members.
A government-owned and controlled corporation (GOCC) is a state-owned enterprise that conducts both commercial and non-commercial activity in the Philippines. The web page provides a list of 219 GOCCs as of 2022, organized by sector, and their subsidies, dividends, and governance.
Learn how Social Security calculates your monthly benefit based on your earnings and when you claim. See the average monthly benefits at ages 62, 67, and 70 in 2024.
Social Pension Program for Indigent Senior Citizens (SPISC) is a program for funding indigent senior citizens in Philippines. The government gives them a monthly payment of five hundred pesos which are intended to be used for medical equipment and services. [ 23 ]
A pension fund, also known as a superannuation fund in some countries, is any program, fund, or scheme which provides retirement income.. Pension funds typically have large amounts of money to invest and are the major investors in listed and private companies.