Metro Manila, Philippines – The Social Security System (SSS) said it is studying the feasibility of offering a loan moratorium for members and a condonation program for contribution penalties for employers as part of government relief amid rising costs driven by oil price shocks.
In a statement on Saturday, March 28, the SSS said it is also evaluating options for extending contribution payment deadlines for employers and individual paying members.
“SSS remains committed to protecting the welfare of our over 40 million members,” SSS President and CEO Robert de Claro said. “We are expediting internal reviews and consultations with stakeholders to roll out these support initiatives as swiftly as possible, while safeguarding the long-term sustainability of the SSS fund.”
De Claro said the SSS is eyeing digital initiatives to simplify processes to “reduce compliance burden and ensure the timely delivery of relief measures and services.”
On Friday, Sen. Imee Marcos urged SSS, the Government Service Insurance System (GSIS), Pag-IBIG Fund, and Philippine Health Insurance Corporation (PhilHealth) to temporarily suspend the collection of contributions and loan payments for at least a month.
President Ferdinand Marcos Jr. has declared a national energy emergency amid the Middle East crisis, triggering a whole-of-government response to secure energy supply and implement measures to protect consumers and other stakeholders.
The government is continuing to provide cash assistance and fuel subsidies for the transport and agriculture sectors.
