State-run pension fund Social Security System disbursed over P84 million worth of unemployment benefits in the first two months of the implementation of the landmark provision of Republic Act 11199, or the Social Security Act of 2018.
SSS president and chief executive Aurora Ignacio said over the weekend the pension fund provided immediate financial assistance to more than 6,900 actively-paying members of SSS who were involuntarily separated from the workforce.
“We are now seeing the fruits of labor of our lawmakers, stakeholders and SSS representatives who have crafted the SS Act of 2018. We are able to provide cash benefits to the qualified members who needed the SSS the most when they unexpectedly lost their jobs,” said Ignacio.
As of Oct. 21, 2019, or more than two months since the pension fund started receiving applications for the unemployment benefit, SSS has paid a total of P84.27 million worth of unemployment benefits to 6,907 members who were separated from work.
