
Nearly 99% of SSS benefit disbursements coursed through e-channels
The Social Security System (SSS) has expanded the use of electronic disbursement channels to release benefits to its members.SSS said from January to November 2020, about P168.55 billion in social security and employees' compensation benefits were disbursed using banks, e-wallets, and remittance transfer companies/cash payout outlets (RTCs/CPOs). It accounts for 98.6% of the total disbursements worth P170.97 billion to 3.68 million members and beneficiaries during the period.Retirement, Disability, Unemployment, Sickness and Maternity Benefits of individual members, as well as Funeral and Death Benefits of beneficiaries who are SSS members themselves, are now coursed through Unified Multi-Purpose Identification card enrolled as an ATM card (UMID-ATM), UnionBank of the Philippines (...