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Website. www .sss .gov .ph. 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. SSS is established by virtue of Republic Act No. 1161, better known as the Social Security Act of 1954.
The Government Service Insurance System ( Filipino: Paseguruhan ng mga Naglilingkod sa Pamahalaan, abbreviated as GSIS) is a government-owned and controlled corporation (GOCC) of the Philippines. 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 ...
Map of the world showing national-level sales tax / VAT rates as of October 2019. Additional local taxes may apply. [citation needed]A comparison of tax rates by countries is difficult and somewhat subjective, as tax laws in most countries are extremely complex and the tax burden falls differently on different groups in each country and sub-national unit.
Total net social spending. Total net social spending takes into account public and private social expenditure, and also includes the effect of direct taxes (income tax and social security contributions), indirect taxation of consumption on cash benefits, as well as tax breaks for social purposes.
In the Philippines, a government-owned and controlled corporation ( GOCC ), sometimes with an "and/or", [1] is a state-owned enterprise that conducts both commercial and non-commercial activity. Examples of the latter would be the Government Service Insurance System (GSIS), a social security system for government employees.
The Social Security Act of 2018 mandates the government to provide unemployment benefits to private sector employees who were involuntarily separated from employment. Unemployment benefit is also referred to as unemployment insurance or involuntary separation benefit. The payments are sourced from the country's Social Security System (SSS).
The Home Development Mutual Fund (HDMF), commonly known as the Pag-IBIG (Pagtutulungan sa Kinabukasan, Ikaw, Bangko, Industriya at Gobyerno) Fund, is a government-owned and controlled corporation under the Department of Human Settlements and Urban Development of the Philippines responsible for the administration of the national savings program and affordable shelter financing for Filipinos.
“Even after Social Security contributions, and after 401(k) contributions, they should probably be saving another 15% of their take-home pay, which is very tough,” Kotlikoff says. He noted ...