DoubleDragon pledges P18.2 million for informal workers' SSS contribution

DoubleDragon Corp. has committed P18.2 million to fully subsidize 12 months of Social Security System contributions for 2,000 informal sector workers in Iloilo and Roxas City, the state-run insurer announced over the weekend.

According to the SSS, DoubleDragon signed a memorandum of agreement to register as a contribution subsidy provider. This move aligns with the SSS Contribution Subsidy Provider Program (CSPP), which encourages government entities and businesses to help Filipino workers and their families by covering their SSS contributions.

Under the CSPP, partners commit to paying contributions for selected self-employed workers, land-based overseas Filipino workers (OFWs), and voluntary SSS members for a minimum of six consecutive months.

“This SSS contribution subsidy will not only support the 2,000 recipients but will also benefit their extended families. It will provide these informal sector workers with the opportunity to join the SSS and gain access to its benefits,” said SSS President and Chief Executive Officer Robert De Claro.

The SSS recently announced plans to boost collections from self-employed professionals following a scheduled contribution rate hike in January. 

The rate increased to 15% from 14%, while the minimum monthly salary credit (MSC) rose to P5,000 from P4,000 and the maximum MSC increased to P35,000 from P30,000.

The insurer estimates these changes will generate an additional P51.5 billion in collections, with 35% or P18.3 billion going to the Mandatory Provident Fund (MPF) accounts of SSS members. — DVM, GMA Integrated News