THE SOCIAL SECURITY System (SSS) implemented the first tranche of its three-year pension hike program and launched new benefit cards to expedite the rollout of increased pensions to members.
“These programs are proof of true public service: Not adding hassle, but increasing convenience. Not an old system, but a modern solution. Not a slow process, but quick action,” Finance Secretary and Social Security Commission (SSC) ex-officio Chair Ralph G. Recto said in Filipino in a statement on Monday.
Under the program, the pension for retirement and disability pensioners will be raised by 10% every September until 2027, while the pension for death or survivor pensioners will be increased by 5%.
When the reform program ends, pensions will have increased by approximately 33% for retirement/disability pensioners and 16% for death/survivor pensioners.
SSS previously said around 3.8 million pensioners will benefit from the pension reform, including 2.6 million retirement/disability pensioners and 1.2 million survivor pensioners.
To complement the hike reform program, the SSS launched the MySSS Card to help members receive their newly increased pension benefits faster and easier.
“With just one swipe, you will have many benefits. Using this, SSS members can get their benefits, loans, and pensions directly and quickly. You can also use it for shopping, paying for transportation, and for everyday expenses,” Mr. Recto said.
The MySSS Card replaces the Unified Multi-Purpose Identification (UMID) card as the official ID of the state pension fund, the SSS said.
The card has security features such as the EMV (Europay, Mastercard, and Visa) chip and uses the Philippine Identification System (PhilSys) eVerify and biometrics authentication to check members’ identities.
The MySSS Card will be issued through partner banks as it can serve as an account for benefits and loan disbursements. It can also be used to make in-store or online payments.
To apply, SSS members, pensioners, beneficiaries, claimants, and representative payees should carry an active social security number, a My.SSS Portal account with updated contact information, and are Philippine Statistics Authority (PSA) or PhilSys registered.
Mr. Recto added the President will later launch the Alagang SSS Discount Card in partnership with Unilab, Inc. for SSS members aged 60 years old and above.
The card will provide special discounts on Unilab products available in all Watsons, Southstar, and Mercury Drugstores nationwide.
“We are doing all this to ensure that every Filipino worker has more joy and more comfort. Because as our President said, you deserve nothing but our love, our care, and our protection,” Mr. Recto said. — Aaron Michael C. Sy