THE Social Security System (SSS) has announced that
it will give P20,000 cash aid
to their contributing members who lost their jobs because of the health pandemic.
The financial assistance
is through SSS Cash Benefit.
The cash aid will be based on
the monthly credit of members. For example, if a member contributes to a P20,000
monthly salary credit, he will
receive the same amount.
Cebu Public Information Officer Maria Cleotilda “Cloti” Cabañero said that the
financial assistance to those who lost their jobs not of their own making was
based on the law that was passed in 2018.
Under this law, Cloti said the contributing members must inform the Department of Labor and Employment (DOLE) that they were terminated from their job not of their own making. DOLE will issue certification of involuntary termination from their work, and the affected employees shall bring it to SSS for payment of benefits.
Of course, Cabañero said, those who were terminated because of the health pandemic will receive such SSS cash benefit. The beneficiaries shall submit the savings bank account where the SSS will deposit the financial assistance.
Fernando Nicolas, SSS public affairs and special events division head, said that the social security system has allocated about P1.2 billion cash aid via SSS Cash Benefit for those workers in the private sector who lost their jobs.
On the other hand, the Department of Finance (DOF) has announced that the financial assistance is ready to be released.
In the labor survey of the Philippine Statistics Authority (PSA), the unemployment rate because of lockdowns as a result of the Covid-19 is steadily going up. From April 2019 to April 2020 alone, about eight million workers lost their jobs, most of them due to the health pandemic.
The contributing members can get financial assistance from the SSS if they lost their jobs due to Covid-19, redundancy, installation of labor-saving devices, retrenchment, closure or cessation of operation, disease, and illness. ELIAS O. BAQUERO