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The Social Security System (SSS; Filipino: Paseguruhan ng mga Naglilingkod sa Pribado) [4] is a state-run social insurance program in the Philippines to workers in the private, professional and informal sectors. SSS is established by virtue of Republic Act No. 1161, better known as the Social Security Act of 1954.
SSS investment income during Teodoro’s term enabled the fund to increase benefits several times over despite a slow increase in contribution rates. Moreover, SSS fund placements in various government banking institutions had yielded high returns, which helped spur economic growth and fund public infrastructure projects.
The Home Development Mutual Fund (HDMF), commonly known as the Pag-IBIG Fund (acronym of its Filipino name: Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industriya at Gobyerno [a]), is a government-owned and controlled corporation under the Department of Human Settlements and Urban Development of the Philippines responsible for the administration of the national savings program and affordable ...
The Labor Code of the Philippines is the legal code governing employment practices and labor relations in the Philippines. It was enacted through Presidential Decree No. 442 on Labor day , May 1, 1974, by President Ferdinand Marcos in the exercise of his then extant legislative powers .
Social Security System (Philippines), for private employees and the self-employed (includes those de facto working for the government but not de jure - not having a [direct] "employer-employee relationship" such as through "Contract of Service (CoS)" and "Job Order (JO)" types of engagement)
Employers pay a contribution on top of the pre-tax income of their employees, which together with the employee contribution, fund the scheme. The maximum unemployment benefit is (as of March 2009) 57.4% of €162 per day (Social security contributions ceiling in 2011), or €6900 per month. [ 28 ]
The Philippine Health Insurance Corporation (PhilHealth) is a tax-exempt, government-owned and controlled corporation (GOCC) of the Philippines that provides health insurance to the country. It was created on 1995 to implement universal health coverage in the Philippines, and is attached to the Department of Health. On August 4, 1969, Republic ...
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