CLARK FREEPORT -- About 500,000 employees are set to receive benefits under a program of the Social Security System (SSS).
About 500,000 employees of more than 55,000 employers who availed of the Contribution Penalty Condonation Program will receive benefits and privileges as active members of the pension fund.
SSS president and chief executive officer Aurora Ignacio said the pension fund has so far collected P1.81 billion worth of contributions from the full and initial payments of employers who availed of the CPCP from March 6 to September 6.
Meanwhile, the total amount of contribution delinquencies collected under the CPCP amounts to P7.88 billion.
"We're very happy that nearly half a million Filipino private workers will soon enjoy the seven benefits being offered by the pension fund as well as its short-term loan privileges as soon as their employers have fully remitted their contributions to SSS," Ignacio said.
Active paying SSS members may avail of sickness, maternity, unemployment, disability, retirement, funeral, and death/survivor benefits.
SSS data showed that of the P7.88 billion delinquencies of the 55,750 employers who availed of the CPCP, P3.88 billion were condoned penalty.
Employers who availed of the CPCP with less than 100 employees stood at 55,275 with more than P3.28 billion condoned penalties and P1.58 billion initial contribution collection. Large accounts or employers who have more than 100 employees who availed of the program, on the other, were recorded at 475 with more than P597.64 million waived penalties and P227.74 million initial contribution collection.
"Some of the employers who availed of the program paid in full while most of them chose to pay their obligations in installment of up to 48 months. We're hoping that they will be responsible enough this time to pay their dues on time not only to regain their good standing with the SSS but also for their employees to reap the benefits of being a member of SSS," Ignacio said.
"We will closely monitor those who have availed of the CPCP so that we can immediately notify them at the first instance of non-payment of their obligation," she added.
SSS reminded employers who have received their latest statements of account but did not avail of the CPCP that they will be referred to the SSS Operations Legal Department for filing of case or for serving of Warrants of Distraint, Levy and Garnishment (WDLG).
The CPCP was offered to SSS delinquent employers following the effectivity of Republic Act 11199 or Social Security Act of 2018 on March 6, 2019.