We may contribute to the Social Security System (SSS) regularly, but how many of us really understand its purpose? Aside from providing financial support upon retirement, what are the other benefits that we could get from it?
For starters, the SSS was established in 1957 in order to provide social security benefits for private sector workers. Apart from the retirement pension, SSS members can also claim other benefits such as disability and maternity allowances. Those covered under the SSS include employees, entrepreneurs, self-employed professionals, and voluntary members (including OFWs and non-working spouses).
What else do we need to know about the SSS? Scroll through the gallery to find out:
(First published as "Social Security Basics" in the "Good Money" section of Good Housekeeping Philippines' October 2011 issue. Adapted for use in Female Network. Photo by Mike Dee.)