The Social Security System expects to collect an additional P14.4 million in contributions annually after accrediting nine new cooperatives as partners in collecting member-contributions and in providing other social security services.
SSS President and Chief Executive Officer Emilio S. De Quiros Jr said, “Collectively these nine cooperatives have a total of 90,377 members, and they have committed to enroll 7,050 new members to the SSS annually.”
De Quiros said that the SSS continues to find ways to make social security services more accessible to its members. The accreditation of these new cooperatives will provide members in their respective areas of jurisdiction a more convenient way of transacting with the SSS.
Recently accredited are Sta Cruz Savings and Development Cooperative (SACDECO) and Sacred Heart Savings Cooperative (SHSC) in Ilocos Sur, Pintuyan National Vocational School Multi-Purpose Cooperative (PNVSMPC) in Southern Leyte, Pinoy Lingap Damayan Credit Cooperative (PDLCC) in Catanduanes, Tubungan Employees Development Cooperative (TEDCO) in Iloilo, Alicia Neighborhood Multi-Purpose Cooperative (ALNEMPCO) in Zamboanga-Sibugay, Gata Daku Multi-Purpose Cooperative (GDMPC) in Misamis Oriental, Guadalupe Community Multi-Purpose Cooperative (GCPMC) in Cebu, and Alalay sa Kaunlaran Inc Multi-Purpose Cooperative (ASKI MPC) in Nueva Ecija.
Among the nine newly-accredited cooperatives, Southern Leyte’s PNVSMPC and PDLCC in Catanduanes will act as SSS’ collecting agents for member contributions, loan payments as well as payments for miscellaneous transactions such as collection of fees for replacement of UMID cards. Aside from collection, SACDECO, SHSC, TEDCO, ALNEMPCO, GDMPC, GCPMC, and ASKI MPC have also pledged to assist the SSS in receiving and screening applications for registration, salary loans and funeral claims.
The SSS, through account officers of concerned branches will tightly monitor the performance of its accredited cooperatives to make sure that the contributions of its members are properly remitted to the SSS. SSS provides training to personnel of the accredited cooperative to familiarize them with the SSS procedures necessary in collection as well as receiving and screening of applications for registration, loans and funeral claim.
SSS implements stringent requirements in accrediting cooperatives as well as micro finance institutions and other organized groups as collecting partner agents to ensure accurate and timely remittance of contributions to the SSS. A collecting partner agent of the SSS must be duly registered with the appropriate regulatory body or government agency. It must also be in existence for at least three years immediately preceding the date of filing of application for accreditation. The cooperative must be a registered employer with the SSS and regularly paying contributions for its employees. Its business operation must pass the financial criteria set by the SSS. SSS also requires that the cooperative has regular members.
The SSS has already accredited a total of 21 cooperatives, associations and micro financiers that act as partners in collection as well as non-collection services since December 2012.