MANILA (PNA) — The Trade Union Congress of the Philippines (TUCP) urged on Wednesday the Social Security System (SSS) to immediately give back to its member-borrowers some P980 million in individual loan over-payments.
“It is not right for the SSS to keep the money. Best governance practices compel the pension fund to promptly return the money to member-borrowers who were unfairly overburdened by excessive salary deductions,” said TUCP secretary-general and former Senator Ernesto Herrera.
“In fact, the SSS should return the money plus a reasonable interest,” added Herrera, former chairman of the Senate committee on labor, employment and human resources development.
Herrera was reacting to a Commission on Audit (COA) report that the SSS over-collected an aggregate of P979.49 million in salary, educational, calamity, job separation and emergency loan repayments from a total of 2,191,005 individual member-borrowers.
“It is not fair for the SSS to hold on to the over-payments indefinitely. The money does not belong to the SSS. The funds rightfully belong to the member-borrowers,” Herrera said.
The over-payments translate into a simple average of P447 per member-borrower.
“The simple average returnable amount per member-borrower may not be that large. Nonetheless, what is important is the act of actually returning the money to the member-borrowers,” Herrera pointed out.
The COA report also noted that refunds other than those for death, disability and retirement benefit over-deductions were being made by the SSS only upon receipt of a formal request from the member.
Herrera said the SSS should, on its own accord, refund any extra deduction, without having to wait for a written request from the member.
“In fact, the SSS should inform in writing every member-borrower of any over-payment, and specify the exact amount overpaid,” said Herrera, a former SSS commissioner representing the labor sector.
“If the SSS can send the refund check together with the overpayment notice, then so much the better,” Herrera stressed. –Manila Bulletin
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
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July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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