SSS urged to improve investments portfolio

Finance Secretary Benjamin Diokno urged the Social Security System (SSS) to continue improving its investments earnings amid a rapidly expanding domestic economy and improved business outlook.

“We must continuously strive to improve the quality and performance of our investments through better financial management and market engagement. This would reassure our members that their contributions are indeed investments in the future,” said Secretary Diokno at the 65th Founding Anniversary celebration of the SSS.

Secretary Diokno recognized the vital role that the SSS plays in the current economic landscape.

He commended the SSS for keeping its fund robust, secure, and well-managed despite the impact of the COVID-19 pandemic.

In the last six years, the SSS hit the P1-trillion mark in benefit payments, providing universal and equitable social security protection to over 40 million members and 2.9 million pensioners.

Secretary Diokno also lauded the SSS for fast-tracking the digital transformation of its core business processes and frontline transactions.

He said that the improvements have enabled the government to accurately target beneficiaries and quickly distribute aid for the Small Business Wage Subsidy Program as part of the government’s COVID-19 response efforts to uplift our people and businesses.

“Not only are your modernization programs well-received at home, they are even recognized by international social security organizations. This is a remarkable achievement and I look forward to more impressive endeavors and successes from the SSS in the years to come,” said Secretary Diokno.

The SSS has shifted the filing of claims to online platforms for its various insurance products. Benefit claims are now released to the designated disbursement account of the SSS member or pensioner, which may be through electronic wallets, cash payment outlets, PESONet, or the Union Bank of the Philippines (UnionBank) QuickCard.

SSS salary and calamity loan applications and the renewal of pension loans are also done online and processed in real-time.

Through the SSS Mobile App, members and employers are provided with a more convenient way to transact with SSS and access their records using their mobile devices.

The SSS has also set up the ExpreSSS e-Learning (ExSSSeL) Portal to enable users to learn about the pension fund’s programs and updates, and the uSSSap Tayo Portal, a customer relationship management system that allows members to access relevant information about products and services or lodge queries, concerns, or complaints.

Secretary Diokno urged the SSS to continue innovating, adapting, and proving itself worthy of the rising expectations of its members.

He also congratulated the recipients of the SSS Balikat ng Bayan Awards, which include top employers, organizations, and media partners that have faithfully complied with the Social Security Law and have disseminated information on SSS programs to the public through various media channels.

“The outstanding contributions of our Balikat ng Bayan awardees have ensured the social security protection of Filipino workers in the country and have helped make the SSS the strong and dependable institution it is today,” said Secretary Diokno.