In a landmark social security partnership, Social Security System (SSS) President and Chief Executive Officer Robert Joseph Montes De Claro and DoubleDragon Corp. Chairman Edgar “Injap” Sia II signed a memorandum of agreement (MOA) to register DoubleDragon as a Contribution Subsidy Provider.
De Claro thanked Sia for supporting SSS’ call in January for businesses and government entities to assist Filipino workers through the SSS Contribution Subsidy Provider Program (CSPP).
Under the agreement, DoubleDragon will fully subsidize the SSS contributions of 2,000 informal sector workers in Iloilo City and Roxas City for 12 months. The total commitment amounts to PHP18.2 million, addressing financial barriers that prevent workers from accessing essential social security benefits.
“This SSS contribution subsidy will not only support the 2,000 recipients but also benefit their families,” De Claro said.
“It provides these informal sector workers the opportunity to join the SSS and gain access to its benefits.”
He expressed gratitude to DoubleDragon and Sia for their support as a Contribution Subsidy Provider.
“By offering access to social security, DoubleDragon is empowering informal sector workers with a safety net they can rely on in times of need,” he added.
De Claro also highlighted DoubleDragon’s long-standing relationship with SSS, recalling that nearly three decades ago, Sia took out a corporate loan from SSS in 1997.
“Since then, SSS has participated in DoubleDragon’s capital market issuances, and now, we take pride in seeing the company give back as a Contribution Subsidy Provider,” he said.
The CSPP enables private or government entities to pay SSS contributions on behalf of selected self-employed workers, land-based overseas Filipino workers (OFWs), and voluntary members. The minimum subsidy period is six consecutive months.
As a CSPP partner, DoubleDragon aims to make a meaningful impact on workers in the informal economy.
“I would like to thank PCEO Jay for this contribution program, giving entrepreneurs like me a chance to pay it forward and help thousands of our countrymen who need support,” Sia said.
Sia believes that DoubleDragon’s partnership with SSS can positively impact many Filipinos.
He shared that this initiative is his way of giving back, recalling how an SSS corporate loan helped him build a 59-room hotel in Iloilo City in 1997 when he was an emerging entrepreneur.
After 28 years, Sia remains grateful for the credit facility and looks forward to a continued and meaningful partnership with SSS.
