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
World Day for Safety and Health at Work
“Safety and health at work every day!”
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!
#WearMask #WashHands #Distancing #TakePicturesVideos
Monthly Observances:
March – Women’s Role in History Month
April – Month of Planet Earth
Weekly Observances:
Last Week of March: Protection and Gender Fair Treatment of the Girl Child Week
Last Week of April – World Immunization Week
Daily Observances:
Mar 25 – International Day of Remembrance of the Victims of Slavery and the Transallantic Slave Trade
Mar 27– Earth Hour
Apr 21 – Civil Service Day
Apr 22 – World Earth Day
Apr 28 – World Day for Safety and Health at Work
