Country
advanced
Thursday, May 23rd 2013
Finance | Energy | Infrastructure | Telecoms & ICT | Industry and Trade | Agriculture | Education | Tourism & Culture | Government
Asia | Africa | Europe | Eastern Europe and the CIS | North America & Caribbean | South America | Middle East
Latest news:
London
8°c

The Philippines

The original report was distributed in Foreign Policy on Thursday, December 1, 2011
         

The value of insurance for the people of the Philippines

The SSS is working hard to extend social security protection to all Filipino workers and their beneficiaries
It is the duty of the state to operate a mechanism that provides protection to its people. The SSS in the Philippines was created in 1948, designed for wage earners and low-salaried employees. Later it evolved, and the government also adopted the social insurance approach to social security, covering the employed segment of the labor force in the private sector.

The SSS administers social security protection to workers in the private sector. Meanwhile, the Government Service Insurance System (GSIS) takes care of workers in the public sector.

The SSS administers two programs namely:
  • The Social Security Program (it provides replacement income for workers in times of death, disability, sickness, maternity and old age).
     
  • The Employee’s Compensation Program (it provides double compensation to the worker when the illness, death or accident occurs during work-related activities).

It is the policy of the State to establish, develop, promote and perfect a sound and viable tax-exempt social security system suitable to the needs of the people throughout the Philippines which shall promote social justice and provide meaningful protection to members and their families against the hazards of disability, sickness, maternity, old age, death and other contingencies resulting in loss of income or financial burden. Toward this end, the State shall endeavor to extend social security protection to workers and their beneficiaries.
 

Comments
No comments
 
Post a comment
Name
Comment
Verification
  I accept the rules of participation
 
 

LOCATION:
Southeastern Asia, archipelago between the Philippine Sea and the South China Sea, east of Vietnam

CAPITAL:
Manila

AREA:
total: 300,000 sq km
country comparison to the world: 72
land: 298,170 sq km
water: 1,830 sq km

POPULATION:
101,833,938 (July 2011 est.)

GOVERNMENT TYPE:
republic

GDP - composition by sector:
agriculture: 13.9%
industry: 31.3%
services: 54.8% (2010 est.)

EXPORTS:
$50.72 billion (2010 est.)
country comparison to the world: 53
$37.6 billion (2009 est.)

EXPORTS commodities:
semiconductors and electronic products, transport equipment, garments, copper products, petroleum products, coconut oil, fruits

IMPORTS:
$59.9 billion (2010 est.)
country comparison to the world: 42
$46.39 billion (2009 est.)