Hike in SSS, GSIS benefits takes effect

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Executive Order (EO) 33 that directs increase of funeral benefits for Social Security System (SSS) and Government Service Insurance System (GSIS) members takes effect within 15 days from August 2.

These funeral benefits for employees in the private and public sectors amount to P30,000 for GSIS members and P20,000 to P40,000 for SSS members.

EO 33 also directs the Employees’ Compensation Commission to upgrade benefits for permanent disability or death of SSS and GSIS members.

It cited actuarial results stating that the State Insurance Fund can finance the funeral benefits increase without affecting the SIF’s stability and without requiring additional contributions.


EO 33 was signed by President Rodrigo Duterte on July 17.

GLEE JALEA

 

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