Mindanao posted positive growth in social security

Mindanao posted 16 percentgrowth for SSS benefit paymentsThe island of Mindanao posted double digit growth on benefit disbursements for Social Security System (SSS) members.SSS President and Chief Executive Officer Romulo L. Neri reported that it marked a 16 percent growth in 2008 on payment for all types of benefits.

Neri said from January to September 2008, SSS paid a total of P5.92 billion in benefits, 74 percent or P4.39 billion of which is for regular pensions. Their pension disbursements for the period were actually 20 percent more than the P3.67 billion they paid for the same nine-month period in 2007. Maternity benefits rose from P105.81 million to P176.36 million, or an increase of 12 percent Seven percent more or P853.49 million were paid for lump sum payments for retirement, death, disability, and P306.09 million or five percent more for funeral claims combined payments for sickness benefits and medical services increased by two percent to P188.97 million.

Neri meanwhile encourage members to pay their monthly premiums without fail so they would be eligible for SSS salary loans when they encounter financial emergencies.

He also urged members with delinquent loan accounts to avail of the amnesty program that ends on April 30 in which the SSS condoned the penalties.

In Davao City he said the total contribution collections in Southern Mindanao for 2008 amounted to P3.54 billion. This surpassed the P3.31 billion collection in 2007 by P227.45 million for a seven percent growth.

Meanwhile Davao branch head Manolito Tagalog attributed the increase to options they offer to both employers and employees.He said aside from loan condonation and amnesty program for workers, the employers with delinquent accounts were allowed to pay on installment or through "dacion en pago" where they pay in kind of real property for non payment of workers premium but subject for assessment of the SSS. He said the property among others must be accessible for easy disposal.

He said their delinquency rate from 80 percent had been decreased and in Davao City their delinquency account is only about P70 million.Tagalog also said they now have a good ratio of benefit disbursement against their collection where few years back their disbursement was more than their collection.

Davao City has 800 ,000 active members that covers more than half of Davao Region's combined active and inactive members of 1.5 million. SSS members for both active and inactive accounted to about 24 million.