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The Social Security System (SSS; Filipino: Paseguruhan ng Kapanatagang Panlipunan) is a state-run, social insurance program in the Philippines to workers in the private, professional and informal sectors.
The Government Service Insurance System (Filipino: Paseguruhan ng mga Naglilingkod sa Pamahalaan, abbreviated as GSIS) is a Filipino government-owned and controlled corporation (GOCC) in the Philippines aimed at government employees. Created by Commonwealth Act No. 186 and Republic Act No. 8291 (GSIS Act of 1997), GSIS is a social insurance institution that provides a defined benefit scheme ...
Unemployment benefits in the Philippines Unemployment benefits in the Philippines are payments made by the government to unemployed people. The unemployment benefits provided by the Philippine government is sourced either from the country's Social Security System (SSS) or the Government Service Insurance System (GSIS).
Social security includes different kinds of benefits (maternity, unemployment, disability, sickness, old age, etc.) [1] A social pension is a stream of payments from the state to an individual that starts when someone retires and continues to be paid until death. [2] This type of pension represents the non-contributory part of the pension ...
Probably the biggest – and arguably most important – question near-retirees have about Social Security is when the best age is to start collecting the program’s monthly benefit checks. The ...
The Labor policy in the Philippines is specified mainly by the country's Labor Code of the Philippines and through other labor laws. They cover 38 million Filipinos who belong to the labor force and to some extent, as well as overseas workers. They aim to address Filipino workers’ legal rights and their limitations with regard to the hiring process, working conditions, benefits, policymaking ...
Provident fund. Provident fund is another name for pension fund. Its purpose is to provide employees with lump sum payments at the time of exit from their place of employment. This differs from pension funds, which have elements of both lump sum as well as monthly pension payments. As far as differences between gratuity and provident funds are ...
Here are full retirement ages based on your birth year: Chart showing Social Security full retirement ages by birth year. Image source: The Motley Fool.