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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.
Benefits and Services. The principal benefit package of the GSIS consists of compulsory and optional life insurance, retirement, separation and employee's compensation. Organization. The governing and policy-making body of the GSIS is the Board of Trustees, the members of which are appointed by the President of the Philippines.
The provisions on unemployment benefits were dropped when the legislation was amended in 1957 to prioritize retirement, sickness, disability and death benefits. 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.
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 ...
Mandatory retirement also known as forced retirement, enforced retirement or compulsory retirement, is the set age at which people who hold certain jobs or offices are required by industry custom or by law to leave their employment, or retire . As of 2017, as reported by the Organisation for Economic Co-operation and Development (OECD), only ...
The Labor Code sets the rules for hiring and firing of private employees; the conditions of work including maximum work hours and overtime; employee benefits such as holiday pay, thirteenth-month pay and retirement pay; and the guidelines in the organization and membership in labor unions as well as in collective bargaining. The prevailing ...
UN pension. UN pension is a retirement benefit provided to people who have worked directly for the United Nations organization. It is provided through the United Nations Joint Staff Pension Fund (UNJSPF) under Article 28 [1] of the Regulations, Rules and Pension Adjustment System of the United Nations Joint Staff Pension Fund (UNJSPF Rules). [2]
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.
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