SSS hailed for increasing social security coverage

Finance Secretary Benjamin E. Diokno commended the Social Security System (SSS) for enhancing its systems to cover even the most vulnerable Filipinos locally and abroad during the celebration of the SSS’ 66th Founding Anniversary on September 8, 2023 at the SSS Main Office in Diliman, Quezon City.

“In pursuit of its mandate, the SSS has continued to implement enhancements to the system by increasing coverage among the most vulnerable Filipino workers here in the Philippines and overseas,” he said.

The Finance Secretary said that self-employed persons, including those in the informal sector, are largely underserved by social security services.

The SSS’ e-Wheels and E-Center sa Barangay programs have brought SSS services closer to the people, especially those in marginalized communities.

Furthermore, these initiatives gave SSS the opportunity to onboard its members into its digital platforms through hands-on tutorials and in-depth orientations, which is in line with its pursuit of an integrated social security system that members can access anytime and anywhere.

“These proposals are carefully crafted to ensure that they are truly responsive to the evolving needs of our SSS members and their beneficiaries,” Secretary Diokno said.

Secretary Diokno also underscored the importance of building effective social security institutions that are reliable and sustainable to be able to support its members in the long run.

To this end, the Department of Finance (DOF) has been working closely with various government agencies to improve the country’s pension system for the future of all Filipinos.

Specifically, the government has been working to reform the military and uniformed personnel pension system, which is currently fully-funded by the national budget, making it unsustainable.

The Finance Secretary hopes to create a secure, sustainable, and reliable pension system that is fair for both military and uniformed personnel and taxpayers alike.

“Learning from the best practices of efficiently running pension systems such as the SSS, we hope to address this monumental problem now, once and for all, in close consultation with the military and uniformed personnel,” he said.