2010 a record year for SSS-NorMin

Emilio de Quiros

CAGAYAN DE ORO CITY, March 13, 2011—The Social Security System-Northern Mindanao cluster has collected a record total of P2.26 billion in 2010, which is an increase of P2.05 billion over 2009’s total collection.
                And in 2001, SSS-NorMin is targeting a total contribution collections exceeding P2.5 billion, said SSS President and Chief Executive Officer Emilio S. de Quiros Jr.
                De Quiros, a banker who assumed SSS’s top post only last August, said that SSS’s Cagayan de Oro City branch accounted for P944.82 million or “over 40 percent of total collections remitted through SSS branch tellers, banks and Bayad Center outlets.”
                He said that in 2010, SSS released a total of P746.56 million for members’ benefits in Northern Mindanao alone.
                “This is an increase of four percent from the P716.31 million in 2009,” he said.
                For retirement claims, over P260 million have been disbursed for last year, or a third of total disbursement, which is 10% higher than 2009’s retirement benefit disbursements.
                Payments for death and funeral benefits totaled P294.54 million, while maternity claims rose 6% last year to P78.41 million; sickness claims disbursement totaled P82.16 million; and another P31.34 million for disability benefits.
                For salary loans, the SSS disbursed a total of 445.49 million to more than 38,000 members all over Northern Mindanao last year. This is 6% higher than the P420.67 million in 2009.
                Salary loan collections, on the other hand, posted a similar growth, rising 5% from P426.87 million in 2009 to P449.12 million in 2010.
                “The salary loan is one of the most popular SSS programs. It is a privilege given to members who regularly pay contributions and loans,” he said.
                De Quiros also disclosed that the SSS Commission has already approved the first-ever loan amnesty program for employers, which implementation started on January 3 and will end on June 30.
                “We will condone the penalties of the employees but it has to be initiated by their employers. We are giving the employers the opportunity to work and convince their employees to pay their loans with us,” he said.
                He also disclosed that based on SSS profiling, “employees comprise an overwhelming 83% of unpaid SSS loans. And with this amnesty, we hope overall loan delinquency will dramatically go down in the next few months.”
                Total loans by member comprise about 70% of total SSS funds, he added.
                Under the loan amnesty program, employers can remit their loan delinquency in full or through installment payments of up to 24 months at three percent annual interest.
                “I am making a call on employees to avail of this program, as appropriate. It is a golden opportunity for you to remit overdue loan amortizations of your employees without paying penalties,” he said.
UMID ID:
                De Quiros also disclosed that there would be a new ID system for its members starting May. This new ID system, called Universal Multipurpose Identification System (UMID), can be used by SSS, GSIS, PhilHealth and Pag-Ibig Fund members.
                This UMID ID system will allow for the full integration and automation of these four money-making agencies of the government and at the same time do away with multiple ID requirements.
                He said that the SSS had already stopped producing and issuing plastic IDs since April 2010 for the eventual move to the UMID system.
                However, members can still continue using their old plastic SSS IDs until a new one is issued to them. (Bong D. Fabe)