The Philippine Social Security Act of 1954 gave rise to the Social Security System (SSS) in the country intended to provide protection against likelihoods and eventualities such as disability and injury, sickness, maternity, old age, and death.

One’s contributions to SSS translate to investments into one’s future and the future of their family. Contributions give citizens access to benefits such as disability aid, retirement relief, and life insurance. SSSalso offers loans at reasonable rates that can be used for various purposes like putting
a child through school or putting up a small business. I

These benefits can make the world of a difference to Filipinos, particularly those burdened by financial instability. However, contributions of individuals earning below P 100,000 annually are intermittent.

Our social protection programs cover the poorest of the poor but only 6.5% of the 12 million self-employed Filipinos are paying their SSS contributions. This is a lost opportunity for countrymen considered our working poor as well as our marginal income earners -farmers, fishermen, market and street vendors, and micro-entrepreneurs across the country.

This bill is the financial support and incentive system our MIEs need to encourage them to invest in their future and their security.

Let us ensure that all working Filipinos are being provided for and that our MIEs are not left behind as we continue to push for inclusive growth in the country.

Let us make the vital adjustments that help Filipinos help themselves. In view of the foregoing, the approval of this bill is earnestly sought.

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