Official Publication of the Philippine Information Agency Bicol Regional Office, in cooperation with the RIAC-REDIRAS - RDC Bicol

Friday, September 11, 2015

SSS, GSIS, Pag-Ibig Fund announce upgrades, expansions on programs

By Rosalita B. Manlangit

DAET, Camarines Norte, Sept. 10 2015 (PIA) – The Social Security System (SSS), Government Service Insurance System (GSIS) and the Home Development Mutual Fund (HDMF) or Pag-Ibig Fund bared recent upgrades and expansions of several benefits and claims which members can avail of.

In the recent “Talakayan sa PIA” of the Philippine Information Agency (PIA) Camarines Norte provincial office, SSS corporate executive officer Leticia M. Del Barrio has encouraged members to avail of their sickness assistance benefits aside from the usual retirement, maternity, disability, death, funeral and employees compensation assistance.

Del Bario said that an SSS member can avail of Sickness Benefits which is a daily cash allowance paid for the number of days a member is unable to work due to sickness or injury.

SSS member can qualify for the sickness benefit, she added, when he or she is unable to work due to sickness or injury and confined either in a hospital or at home for at least four days.

"The member should also have at least three months of contributions within the 12 month period immediately before the semester of sickness has been paid; all company sick leaves with pay for the current year has been used up; the employer has been notified, or, if a separated, voluntary or self-employed member, the SSS directly," she explained.

The amount of a member’s sickness benefit per day is equivalent to ninety percent (90%) of the member’s average daily salary credit.

Del Barrio furthered that the Funeral Benefit for members has also increased from P20,000 to the variable amount from P20,000 to P40,000.

SSS also has program on option to sell shares of stocks under stocks investment loan.

The release of Educational Assistance Loan now is being given at their branch which previously mailed to beneficiaries, she announced.

She also encouraged employers to enroll their “Kasambahay” to SSS citing that very few availed of the “Batas Kasambahay”.

Del Barrio announced that they will also implement Personal Equity Savings Options (PESO) on the last quarter of this year for SSS members.

The SSS has an online portals that allows members exclusive access to their contributions and membership records, make online transactions, set appointments with their SSS servicing branch and request copies of their of their records.

GS ISLoan and e-Service Unit staff officer Richard Allan Francisco, on the other hand, said that GSIS offered Enhanced Conso-Loan Plus Program since July this year wherein members who have at least 15 years of service with paid premiums may borrow a 12-month salary loan, while those with not less than 25 years of service will be eligible for a 14-month loan.

Previously, the credit limit for the members was only 10 times their salary and the GSIS also extended the maximum payment term from six to 10 years for members with not less than 10 years of paid premiums.

He said that availment of the Enhanced Conso-Loan Plus Program will result in the consolidation of the following salary loans: Salary Loan,    Restructured Salary Loan, Enhanced Salary Loan, Emergency Loan Assistance, and Summer One-Month Salary.

"The GSIS is working on for the increase in the funeral benefits from P20,000 to P30,000 as well as in the designation of survivor if the member is single and these are now in Congress under deliberation," he said.

HDMF Housing Relation Officer Jose Jaime P. Tandog meanwhile urged members to join the Modified Pag-ibig Program, a savings scheme designed to provide members with another savings option similar to time deposit scheme that would grant them with a yield higher for a period of five to 10 years.

"The program has since started in 2012 but very few availed of this," he said.

He said that those who wish to join Modified Pag-ibig Program may contribute P500.00 per month aside from the mandatory deductions and the interest rate is 4.68 percent per annum and is tax free.

Tandog also said that for the P450,000 socialized housing program, the interest rate is only 4.5% while in other housing loans is as low as 6.500% per annum compared to 6.985% in the previous years.

He clarified that those who already availed of the housing loan can again apply for another housing loan provided that it will not exceed P6 million.

Previously housing loan can be availed one at a time and cannot have another one unless the previous one has been paid.

Acquisition and installation of solar power will be allowed in Pag-ibig Fund and they are just waiting for the guidelines for its implementation. (MAL/RBM-PIA5/CamarinesNorte)

- See more at: http://news.pia.gov.ph/article/view/871441779910/sss-gsis-pag-ibig-fund-announce-upgrades-expansions-on-programs#sthash.hZt3BZmr.dpuf

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