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The SSS PESO (Personal Equity Savings Option) Fund is a voluntary savings program that members can utilize to augment their retirement benefits from the regular membership. [17] Launched in September 2014, it is a provident fund that gives tax-free returns and it can be made available effective upon the retirement of the members or when certain ...
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 ...
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 ...
The maximum benefit depends on the age you retire. The SSA provides this example: If you retire at full retirement age (67) in 2023, your maximum benefit would be $3,627. However, if you retire at ...
Welfare spending. Welfare spending is a type of government support intended to ensure that members of a society can meet basic human needs such as food and shelter. [1] Social security may either be synonymous with welfare, [a] or refer specifically to social insurance programs which provide support only to those who have previously contributed ...
The Home Development Mutual Fund (HDMF), commonly known as the Pag-IBIG (Pagtutulungan sa Kinabukasan, Ikaw, Bangko, Industriya at Gobyerno) Fund, [a] 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.
The administration of the Medicare program was transferred to the Philippine Health Insurance Corporation in 1995, but the SSS has continued to provide EC benefits to members. Also under Teodoro’s leadership, the SSS started granting funeral and maternity benefits and survivors and dependents pension in the 1970s.