DOF Speaks on SSS Unemployment Benefits Released to Members
SSS UNEMPLOYMENT BENEFITS – The Department of Finance (DOF) spoke on the amount released by the Social Security System (SSS) for members who lost their job.
Amid the COVID-19 pandemic in the Philippines, many businesses had to temporarily or permanently close. Not only the small enterprises but even some of the big ones were not able to withstand the demands of the pandemic. There were week-long if not month-long quarantine measures that restrict the operation of non-essential businesses.
In fact, even the essential businesses have to adapt to the new normal setting. Most are operating but not on a normal range with regards to the workforce that reports office-based. Some businesses cope by using online systems.
Unfortunately, the closure of some businesses in the country whether it is temporary or permanent led to the loss of jobs for many people. For members of the Social Security System who lost their jobs, they have something to turn to – the SSS Unemployment Benefits.
Based on a report on ABS-CBN News, the Department of Finance (DOF) reported that the Social Security System released a total of P2.62 billion cash grant under the SSS Unemployment Benefits. Around 196,000 members of SSS who lost their job were able to avail the benefit.
According to DOF, 90% or around P2.35 billion cash grant was released by the social insurance institution from March 2020 to June 2021. The UIB program is one of the key responses of the institution towards the impact of the COVID-19 crisis in the country.
Finance Secretary Carlos P. Dominguez expressed in a letter addressed to the Senate that from March 2020 to June 2021, around 173,791 members have benefited from the UIB. According to DOF, the release of the date to the legislative branch was in line with an inquiry on financial assistance to the unemployed led by Senator Grace Poe.
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