SSS eyes 500-hectare land at Clark for investment project

August 27, 2017 - 2:51 PM

CLARK FREEPORT – The Social Security System plans to make some investments, particularly in the manufacturing industry, in this Freeport as part of the agency’s long-term program, SSS Chairman Dean Amado Valdez said Saturday.

“We’re finalizing plans and hoping to meet with the Bases Conversion and Development Authority and Clark Development Corporation to discuss SSS’ intention in putting up investment at Clark,” said Valdez on the sideline of the Gawad Parangal for SSS partners Central Luzon Division 1 held at the Midori Hotel and Casino at the weekend.

Valdez said his team is eyeing to build an aviation-related factory either at the main zone or sub-zone of the Freeport. “We’re looking for a 500-hectare lot where we could build a manufacturing plant for aircraft spare parts.”

The project, Valdez said, is already in the pipeline and the SSS is just waiting for the BCDA and CDC for the formal talks.

For the short-term program, he added, SSS is working for a major improvement in services, specifically focusing on allowing the posting of contributions in real time. “Kung nagbayad na, doon sa central records namin kaagad magri-reflect na [Once you’ve paid your premiums, it will immediately reflect in our central records].”

Valdez admitted that SSS is still in the process of fine-tuning the system, particularly with the posting of member contributions. He said this is the reason why an ordinary employee cannot check his or her contribution or if the contribution is up to date.

“Real-time posting of member contribution is an advantage for an ordinary employee. He or she can immediately call the attention of the employer once the records reflects non-remittance of the employee’s contribution. Particularly those paying quarterly,” Valdez told reporters.

SSS, Valdez said, is also studying a plan to launch a pre-membership registration at the very young age of 15. “Ibig sabihin nito, hindi ka pa employed or wala ka pang trabaho ay naka-register ka na.”

“The plan is still under study — if we’re going to register 15 years old.” Valdes said.

Valdez also announced that SSS plans to adopt a pre-approved loan scheme that would qualify consistent and on-time paying members for another loan without them having to file their applications with the SSS office.

“For example, ilalagay natin sa policy na those who have paid for three months or members of SSS for the required number of months are entitled to a pre-approved loan for three months,” Valdez explained.

He said this scheme would avoid the long queue for loan applicants as members will just check their loans through their respective bank accounts. Banks that will delay the release of cash loans will be charged 3 percent of the amount.

“All these are part of the SSS’ short term program under our e-service,” said Valdez.