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Saturday, August 24, 2019

SSS loans, benefits can now be withdrawn via UMID-ATM Cards

MORE than 34,000 members of the state-run Social Security System (SSS) may now withdraw through automated teller machines (ATM) their social security benefits and loans using their Unified Multi-purpose Identification (UMID) cards.

SSS President and Chief Executive Officer Emmanuel Dooc said the rollout of the program will make disbursements easier for member benefits such as disability; retirement; self-employed and voluntary; sickness and maternity claims; and member privileges like salary and calamity loans.

“Doing direct transfer of funds for loans and benefit proceeds to the UMID card ATM accounts is safer and faster. It will eliminate the cost of printing and mailing of checks, as well as delay in the delivery of service due to postage time and lost checks. As soon as the loan is approved by SSS, it will only take at least 24 hours for our members to withdraw it from their bank accounts”, said Dooc.

Several banks had been invited to the UMID-ATM program since November 2013. To date, SSS has signed agreements to implement the program with four banks. UnionBank of the Philippines (UBP), one of the accredited banks, was the first to complete the program and started deploying kiosks in three SSS branch offices last year.

At present, UBP kiosks where UMID cards can be activated, are in seven SSS branches
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