Don’t you know that SSS will now offer a monthly pension for the unemployed?
Losing one’s job is not a joke. Fears of uncertainties of the future
President Rodrigo Roa Duterte signed Republic Act 11199 last February 7, 2019. Authored by Senator Dick Gordon which provides, “An act rationalizing and expanding the powers and duties of the Social Security Commission to ensure viability of the SSS”
The new law includes assistance or pension plans for unemployment insurance for SSS members who are involuntarily displaced. This hereby supports to tide up the few months they are seeking new employment opportunities.
The new measure empowers the SSS to increase its benefits to members, which include retirees and those who involuntarily left without jobs.
Presidential Spokesperson Salvador Panelo stress, that the law further ensures the compulsory SSS coverage in favor of our overseas Filipino workers. The new law also empowers the commission to extend additional benefits and condonation of penalties.
Under Section 14-B of RA 11199, a member who involuntarily lost his job, may claim unemployment benefits which is equivalent to 50% of his monthly salary credit. The privilege is good for two (2) months, provided that the member is not over 60 years old and has paid at least 36 monthly contributions, 12 months of which should be within the 18-month period prior to the involuntary unemployment or separation from one’s job. A member can only claim the said benefit once every 3 years.
If a member is paying the maximum monthly salary credit, he is entitled to receive P10,000 a month for two months time, enough for the dismissed employee to find another job.
Source: officalgazette.gov.ph
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