Losing your job is one of the worst things that can happen from a career perspective, especially when it’s unexpected and not your fault.
Worry no more, because we now have Unemployment Insurance Benefit under the new SSS law, this will provide temporary assistance for Members of the Social Security System (SSS) who will lose their jobs.
Last week, President Duterte signed Republic Act 11199 (Social Security Act of 2019) into law.
Senator Richard Gordon, the law’s primary author also confirms that SSS members who involuntarily lose their jobs could apply for unemployment assistance.
In fact, this will be the first time the state-run agency will cover unemployment benefits or involuntary separation benefits that aims to provide assistance to all SSS members while they are looking for other employment.
Gordon said:
“For the first time in the country’s history, meron na ngayong unemployment insurance. It will start with two months, at least meron kang Php10,000 a month if you had been paying contributions under the maximum salary credit. For two months, makakapaghanap ka ng trabaho.”
How to avail the unemployment insurance benefit?
The SSS member must have paid at least 36 monthly contributions and should not be more than 60 years old. The law stipulates that the member should have made monthly contributions within the 18-month period prior to the separation or involuntary unemployment.
Therefore, it is also important that members’ should regularly check whether their employers are properly remitting their SSS contributions so they can avail of this benefit in the future.
“It will allow you to look for another job. While hindi ka pwedeng magrelax at kailangang maghanap ka agad ng trabaho because you can only get a maximum of two months, you will have something for your expenses,” Gordon explained.
SSS member who finds himself involuntarily unemployed is entitled an equivalent of 50% of his average monthly salary credit for a maximum of 2 months only, under Section 14-B of RA 11199.
How much can an SSS member claim?
The amount will be based on the average monthly salary credit. It means that those who are paying the maximum monthly salary credit can get as much as Php10,000 per month unemployment benefit, good for 2 months, while those who are paying less will get a lower amount based on their average monthly salary credit.
The SSS member could only claim unemployment benefits once every 3 years in order to avoid this benefit from getting overused.