The Social Security System (SSS) will have 1,800 new members every year from three cooperatives that it recently accredited as partner agents in collecting member’s contributions and providing other social security services.
“We are continuously accrediting cooperatives to reach out to our Informal Sector Workers.” Ma. Nympha M. Ragel, Department Manager III of Cooperatives and Informal Sector Department said.
The three new accredited cooperatives are the Maragusan Growers Multi-Purpose Cooperative (MAGROW MPC) in Compostela Valley; Abra Diocesan Teachers and Employees Multi-Purpose Cooperative (ADTEMPCO) in Abra; and Center for Agriculture and Rural Development (CARD), Inc. in Laguna.
In total, these three cooperatives have 956,581 members that SSS aims to cover as self-employed members.
The cooperatives are authorized to collect social security contributions, member loan and housing loan amortizations, miscellaneous payment as well as screen registration documents for SSS applications of their members. For the three newly-accredited cooperatives, SSS will collect P6.5 million in contributions annually.
“SSS follows stringent accreditation procedures for partner agents. They must be duly registered with the appropriate regulatory body or government agency and passed the financial criteria set by SSS. We require a minimum of at least three years of operation prior to the date of filing of application for accreditation and they should also be registered with SSS as employer-member,” Ragel said.
The SSS Account Officers regularly monitor and check the performance of the accredited cooperatives to ensure that the contributions of their members are properly remitted and reported to the SSS every month.
As of December 2014, SSS has already inked partnerships with 30 cooperatives as partners in collection and non-collection services with a total collection of P19.28M covering 55,438 members.