What is the social security system in the Philippines?
The Filipino Social Security System is designed to provide a universal, equitable system for protecting residents of the Philippines against the costs related to sickness, disability, maternity and old age.CompulsoryAll employers are required to pay Social Security contributions for their employees. The self employed must register and pay their own contributions based on their earnings.SicknessThe sickness benefit is paid out daily to workers who are unable to attend work due to an illness. It is typically equal to 90 percent of the worker’s daily salary.MaternityThe maternity benefit is paid out in daily stipends for a woman who is unable to work due to her pregnancy. It is typically paid out for 60 to 78 days, depending on the type of delivery.RetirementThe retirement benefit is paid out to members who cannot work due to old age.
