SSS Benefits, Now Accessible via Digital Wallet

Benefits from the Social Security System (SSS) can now be accessed by the members through PayMaya. Proceeds from the SSS funeral and unemployment benefits may now be directed to the member’s PayMaya account. Eventually, members can also receive their calamity, salary, and other loan proceeds via PayMaya as well.[1]

 

Effective June 22, 2020, SSS funeral benefits will no longer be released through checks in an effort by the SSS to go digital and limit walk-in transactions for the safety of the members and SSS employees.

 

SSS President and CEO Aurora C. Ignacio announced that the SSS funeral benefit, a cash benefit granted to whoever paid for the funeral expenses of a deceased member, is now released either through ​Philippine Electronic Fund Transfer System and Operations Network ​(PESONet) participating banks, e-wallets​, ​e.g., PayMaya, or Remittance Transfer Companies (RTCs)/Cash Payout Outlets (CPOs), in addition to the earlier launched mode of payment via Unified Multi-Purpose Identification (UMID) cards enrolled as an ATM card.[2]

 

SSS members must enroll their PayMaya accounts through the My.SSS member portal by entering their PayMaya-registered mobile number under the “Account Number” field at the Bank Enrollment portion. SSS Members must select their preferred PESONet participating bank, e-wallet, or RTC/CPO. They must provide their bank account number in order to enroll their bank account or their mobile number for e-wallets or RTCs/CPOs.[3]

 

The full list of PESONet participating banks and electronic money issuers and e-wallets is available under the “ACH Participants” section of the Payments and Settlements tab of the Bangko Sentral ng Pilipinas website. DBP Cash Padala thru M Lhuillier, an RTC/CPO, may also be selected in the BEM.[4]

 

“As the country deals with the effects of the pandemic, our digitalization efforts at SSS become a crucial part in ensuring that we deliver not just continuous but also safe service to all of our members,” said Aurora Cruz-Ignacio, president and CEO of SSS. Last year, SSS has previously launched the capability to accept credit and debit card including e-Wallet accounts for contribution payments via its new mobile app powered by PayMaya Checkout. This allows its members to remit their regular contributions anytime and anywhere.[5]

 

Fintech company PayMaya mentioned that this development is part of SSS’s efforts to migrate a ‘checkless’ disbursement process and achieve a completely electronic way to distribute funds and other proceeds to its members. Moreover, it is considered as a response to the need to go digital and observe physical social distancing during the COVID-19 pandemic. 

 

 

[1] ABS-CBN New. PayMaya users can now access SSS benefits via digital wallet. July 23, 2020. Available at: https://news.abs-cbn.com/business/07/23/20/paymaya-users-can-now-access-sss-benefits-via-digital-wallet?fbclid=IwAR3jAcr_t_lQOmTk-BqL9wv5wsr48IQRrCNi27LWg5pC5C4Y4wqS1zLZuA0

[2]  Business Mirror. SSS starts checkless payment of funeral benefit claims. July 10, 2020. Available at: https://businessmirror.com.ph/2020/07/10/sss-starts-checkless-payment-of-funeral-benefit-claims/

[3]  Public Information Agency. Checkless payments of funeral benefit claims starts now says SSS. July 11, 2020. Available at: https://pia.gov.ph/press-releases/releases/1047341

[4]  Business Mirror. SSS starts checkless payment of funeral benefit claims. July 10, 2020. Available at: https://businessmirror.com.ph/2020/07/10/sss-starts-checkless-payment-of-funeral-benefit-claims/

[5] VIVOMIGSGEE. Social Security System Members can now Receive Proceeds from SSS Benefits via PayMaya. July 21, 2020. Available at: https://www.vivomigsgee.com/2020/07/21/social-security-system-members-can-now-receive-proceeds-from-sss-benefits-via-paymaya/

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