Social Security

Social Security’s retirement and disability trust funds are expected to run out in 2033. Americans need bigger retirement nest eggs, there is no doubt about that. More than half of us have saved less than $25,000, according to the Employee Benefit Research Institute.

The wait is almost over for the country’s 120,000 retired soldiers and pensioners as the Commission on Audit (COA) has granted their petition seeking to claim from the government close to P18 billion in pension arrears that have accumulated in the last 12 years.

ILO report shows huge differences in health care access between rural and urban areas worldwide. GENEVA (ILO News) – A new ILO report shows that 56 per cent of people living in rural areas worldwide do not have access to essential health-care services – more than double the figure in urban areas, where 22 per…

Spending on social protection programs has increased in countries with a vast labor force, such as the Philippines. A family planting crops at an ADB-supported project that supplies water for farm irrigation. Spending on social protection programs has increased in countries with a vast labor force, such as the Philippines. A family planting crops at…

1. Social insurance is a form of social protection. It refers to contributory schemes that cushion the risks associated with unemployment, ill health, disability, work-related injury, and old age. Source: ADB Social Protection Strategy

MANILA, Philippines – The International Labor Organization (ILO) has urged governments in Southeast Asia to intensify efforts to improve the lives of informal workers in the region.

ASSOCIATION of Southeast Asian Nations (Asean) has traditionally relied on a mixture of public and private health care with an emphasis on the latter. It is a structure that is likely to continue as more countries in the region begin to move toward the provision of universal health care.

The Philippines’s spending for social protection programs remains below regional average although it is already classified as a “large middle-income” country, a report of the Asian Development Bank (ADB) showed.

THE Asian Development Bank (ADB) is urging countries in Asia Pacific to roll out social protection systems to enable the poor to better withstand shocks such as economic crises and natural disasters.

With people living longer, more and more questions are being raised on the possible effects of the ageing of the population on labour markets and social security systems. GENEVA (ILO News) – As people live longer and birth rates drop – especially in developed economies – there is increasing concern over the long-term sustainability of…

At least 60 percent of people in developing countries lack effective safety net coverage, as these nations struggle to protect their citizens from the impacts of global financial volatility and food and fuel price hikes, according to a new World Bank (WB) data released in Washington, D.C. on Wednesday (Thursday in Manila).

Talk of the proposed increase in Social Security System’s contribution rate from 10.4 percent to 11 percent begins to gather steam, with mounting objection from members and businesses; and amid soaring prices of basic commodities and rising unemployment.

Singapore said it will increase aid to its poorest citizens and boost wages of older workers as the government seeks to defray rising living costs and reduce dependency on foreign labour, reported Bloomberg.

Today, PERA may not only mean money. It may also represent an investment opportunity. Of course, not in reference to local legal tender, PERA, under Republic Act 9505, stands for Personal Equity and Retirement Account. This law came about because of the government’s drive to promote the development of the capital market by tapping in…

MANILA, Philippines – The House committee on ways and means will look into another controversial issuance of the Bureau of Internal Revenue (BIR), which imposes tax on contributions to state pension and insurance institutions like the Social Security System (SSS), Government Service Insurance System (GSIS), Philippine Health Insurance Corp. (PhilHealth) and the Pag-Ibig Fund.

GOVERNMENTS need to put in place appropriate policies not only to address job loss and income inequality as economies worldwide become more interdependent, but also to ensure “wider distribution of gains from trade,” said a study jointly conducted by the World Trade Organization (WTO) and the International Labor Organization (ILO) and released last Sept. 20.

MANILA, Philippines – Former President and now Pampanga Rep. Gloria Macapagal-Arroyo is seeking the immediate passage of a bill granting tax deductions to parents and legal guardians of children with special needs.

Yes, the title is meant to be a pun, but whether it is pera (Filipino term for “money”) per se or the real subject matter of this article — the Personal Equity and Retirement Account (PERA) — both seem to invariably elude us. Since the PERA’s introduction in 2008, the Bureau of Internal Revenue (BIR)…

MEMBERS of the Philippine National Police have something to look forward to this year because besides the 20,000 housing units that will be constructed for them, the government is also finalizing the guidelines for the increase on the hazard pay of its personnel.

THE SENATE ways and means committee has recommended the plenary approval of a bill seeking to provide tax incentives for additional dependents, the elderly and persons with disabilities. Committee Report 43 submitted on May 31 recommends the approval of Senate Bill 2855 or the proposed Additional Relief to Families Act.

MANILA, Philippines – Former President and now Pampanga 2nd District Rep. Gloria Arroyo and her son, Camarines Sur Rep. Diosdado ‘Dato’ Macapagal Arroyo, are pushing for a new law that could prove very popular to workers in the private sector. House Bill 1218 seeks to institutionalize the granting of an annual productivity incentive to all…

MANILA, Philippines – Institutional reforms at the Philippine Charity Sweepstakes Office (PCSO) are designed to transform the agency into a truly responsive, relevant, and efficient welfare arm of the government for the poor.

The 100th International Labour Conference has started discussions on ways to establish social security for all as a powerful and affordable tool to promote economic growth, reduce poverty and mitigate the impact of crises. Yet, only about 20 percent of the world’s working age population has access to comprehensive social security systems, according to a…

CEBU, Philippines – Mactan Cebu International Airport (MCIA) General Manager Nigel Paul Villarete yesterday announced that they already complied with the order of the Commission on Audit (COA) to stop granting additional health care insurance to all officials and employees of the airport.

MANILA, Philippines — The Department of Social Welfare and Development (DSWD) distributed P67.57 million in cash assistance for farmers and fisherfolk in 10 regions to help them cope with the rising prices of commodities and fuel during the lean months.

Over the past several years, the ILO has adopted a number of measures designed to promote social security coverage for the vast majority of the world’s workers who currently lack coverage. Yet, in a world marked by rapidly spreading financial and economic fluctuations, the capacity of individuals to cope alone with economic risks is even…

DEVELOPING ASIA-PACIFIC countries such as the Philippines should expand social protection programs to cover all low-income groups and minimize persistent income inequality amid economic gains, a United Nations agency said in a study released on Wednesday.

MANILA, Philippines—About two million farmers, fisherfolk and the poorest of the poor are in line for a rice subsidy or short-term employment from the government to tide them over the lean months and help them cope with rising food prices, Social Welfare Secretary Corazon Soliman said Friday.

MANILA, Philippines – The Social Security System (SSS) is expected to roll out a new government identification card in the first half of the year.

MANILA, Philippines —  The House of Representatives has passed on to the third and final reading a pro-entrepreneurship bill that seeks to provide financial security blanket to government employees during their retirement.