In a major boost for informal sector workers, DoubleDragon Corp. has pledged ₱18.2 million to fully cover 12 months of Social Security System (SSS) contributions for 2,000 workers in Iloilo and Roxas City.
The SSS announced this initiative over the weekend, highlighting DoubleDragon’s commitment to helping self-employed individuals, land-based OFWs, and voluntary SSS members secure their social security benefits.
How This Program Works
DoubleDragon signed a memorandum of agreement to become a Contribution Subsidy Provider under the SSS Contribution Subsidy Provider Program (CSPP). This program encourages businesses and government entities to sponsor SSS contributions for Filipino workers who may not be able to afford them.
To participate, CSPP partners must commit to paying SSS contributions for a minimum of six consecutive months. In this case, DoubleDragon has gone above and beyond, covering a full year for 2,000 workers!
Why This Matters
SSS President and CEO Robert De Claro emphasized how this initiative will not only benefit the workers but also their families. By being active SSS members, these informal sector workers will gain access to:
Sickness and maternity benefits Retirement and disability pensions Death and funeral assistance Loan privileges
“This SSS contribution subsidy will not only support the 2,000 recipients but will also benefit their extended families,” De Claro stated.
SSS Contributions Are Increasing
This comes as SSS raises its contribution rates. Starting January, the:
Rate increased from 14% to 15% Minimum monthly salary credit (MSC) rose from ₱4,000 to ₱5,000 Maximum MSC jumped from ₱30,000 to ₱35,000
SSS estimates these changes will generate an extra ₱51.5 billion in collections, with ₱18.3 billion going to the Mandatory Provident Fund (MPF) to secure members’ future.
A Step Toward Financial Security
With DoubleDragon stepping up to support informal workers, more Filipinos can now enjoy financial security and social protection.
Could this move inspire more businesses to step in and help workers? The future looks bright!
