MANILA, Philippines - The working poor will now be covered by the government's social protection program through the Social Security System (SSS) once Sen. Bam Aquino's bill is approved into law.
Sen. Aquino has filed Senate Bill No. 2746 which aims to give the farmers, fishermen, market and street vendors, tricycle drivers and millions of micro business owners the social protection they need.
"As they earn below P100,000.00 annually, the working poor's contributions, unfortunately, are not regular, thus depriving them of a chance to enjoy social protection from the SSS," said Sen. Bam, chairman of the Senate Committee on Trade, Commerce and Entrepreneurship.
"The proposed measure seeks to provide the working poor the much-needed help in order for them to grow," said Sen. Bam.
While the poorest of the poor are covered by the government's social protection programs, Sen. Bam said only 6.5 percent of the 12 million self-employed Filipinos are paying their SSS contributions.
Under the Working Poor Protection Act of 2015, the government will match every contribution of the working poor to SSS, the same way an employer matches the contribution of their employees.
This will enable the working poor to access loans and other benefits from SSS, giving them the opportunity to get out of poverty and succeed on their own.
In addition, they will also be given a chance to avail of social protection packages that SSS provides, such as disability, sickness, maternity, old age, and death benefits.
"Let us ensure that the Filipino dream is realized - that all Filipinos are being provided with the right opportunity, the break that they need to succeed on their own and the environment where they are able to help themselves," said Sen. Bam, who worked with micro businesses before he became a senator.
"Wala dapat maiiwan tungo sa tinatamasa nating kaunlaran," he added.
Sen. Aquino has filed Senate Bill No. 2746 which aims to give the farmers, fishermen, market and street vendors, tricycle drivers and millions of micro business owners the social protection they need.
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| Senator Bam Aquino. File photo. |
"The proposed measure seeks to provide the working poor the much-needed help in order for them to grow," said Sen. Bam.
While the poorest of the poor are covered by the government's social protection programs, Sen. Bam said only 6.5 percent of the 12 million self-employed Filipinos are paying their SSS contributions.
Under the Working Poor Protection Act of 2015, the government will match every contribution of the working poor to SSS, the same way an employer matches the contribution of their employees.
This will enable the working poor to access loans and other benefits from SSS, giving them the opportunity to get out of poverty and succeed on their own.
In addition, they will also be given a chance to avail of social protection packages that SSS provides, such as disability, sickness, maternity, old age, and death benefits.
"Let us ensure that the Filipino dream is realized - that all Filipinos are being provided with the right opportunity, the break that they need to succeed on their own and the environment where they are able to help themselves," said Sen. Bam, who worked with micro businesses before he became a senator.
"Wala dapat maiiwan tungo sa tinatamasa nating kaunlaran," he added.
