SSS

What is SSS and its purpose?

The Philippine Social Security System (SSS) is a social
insurance program for employees in the Philippines. Founded in
1957, the SSS is a government agency that provides retirement
and health benefits to all paid up employees in the Philippines.
Members of the SSS can also make 'salary' or 'calamity' loans.

The SSS aims to develop and promote a viable

social security institution providing universal and equitable social
protection through world-class service.

What is the purpose of SSS?

SSS is a social insurance program that aims to provide protection
to its members and beneficiaries, while GSIS serves as the
counterpart social insurance program for those who work in
government. SSS members can avail of maternity, sickness,
disability, retirement, funeral and death benefits.

What is the benefits of social security system?

Social Security provides a foundation of income on which
workers can build to plan for their retirement. It also provides
valuable social insurance protection to workers who become
disabled and to families whose breadwinner dies.

What are the 3 types of Social Security?

The types are retirement, disability, survivors and
supplemental benefits.
What is the retirement age in SSS?
60 years old
Under the Republic Act No 8282 – Social Security Law, SSS,
also known as Social Security System, is a policy of the state to
establish, develop and promote 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 beneficiaries
against the hazards of disability, sickness, maternity, old age,
death and other contingencies resulting in loss of income and
financial burden. Towards the end, the State shall endeavor to
extend social security protection to workers and their
beneficiaries.

In simple terms, SSS is like an insurance program mandated by

the government to all income earners or workers in the
Philippines. All income earning SSS members are required to
contribute monthly into the fund, the amount depends will depend
on their salary bracket. In exchange for the said monthly
contributions, members will enjoy insurance benefits such as
sickness, maternity, disability, retirement, death and funeral and
salary loan.
 BIR
What is BIR and its function?
The Bureau of Internal Revenue (BIR) is an attached agency of
the Department of Finance. It is tasked to assess and collect all
national internal revenue taxes, fees, and charges, and to enforce
all forfeitures, penalties, and fines connected therewith.

What is the purpose of BIR in business?

The BIR is the national government regulatory agency that
regulates finance, taxation, and monetary policy in the
Philippines. It collects internal revenue taxes, fees and charges,
and enforces all forfeitures, penalties, and fines connected
with tax matters for the Philippine government.

What is BIR in business?

Registering your business with the Bureau of Internal Revenue
(BIR) is one of the things that a business owner needs to do to
make your business legal and to avoid the risk of being tax
evader.
Why is BIR important?
BIR registration is one of the most important prerequisites to
doing business in the Philippines. ... This responsibility of
collecting taxes through the just enforcement of tax laws is
ultimately carried out by the bureau for the noble purpose of
nation-building and elevating the lives of Filipinos.
Who needs to register with BIR?
All businesses must be registered with the BIR, no matter how
big or small. Remember that under our current Tax Code,
businesses that fail to register with the BIR can be closed for not
less than five (5) days.
 PHILHEALTH
The Philippine Health Insurance Corporation was created in
1995 to implement universal health coverage in the Philippines. It
is a tax-exempt, government-owned and controlled corporation of
the Philippines, and is attached to the Department of Health.

What is PhilHealth and its benefits?

The Philippine Health Insurance Corporation (PhilHealth) is a
government corporation attached to the Department of Health. It
administers the National Health Insurance Program, which was
established to provide health insurance coverage and ensure
affordable and accessible health care services for all Filipinos.

What is PhilHealth and its benefits?

The Philippine Health Insurance Corporation (PhilHealth) is a
government corporation attached to the Department of Health. It
administers the National Health Insurance Program, which was
established to provide health insurance coverage and ensure
affordable and accessible health care services for all Filipinos.

PhilHealth aims goal to: (1) rapidly ensure that all people have
the opportunity to gain access to the health services they need at
every stages of iife without the risk of financial ruin; and (2) make
the programsustainable in the long run through effective revenue
collection and efficient purchasing ability.
 DTI
The Department of Trade and Industry (Filipino:
Kagawaran ng Kalakalan at Industriya,
abbreviated as DTI) is the executive
department of the Philippine government
tasked as the main economic catalyst that
enables innovative, competitive, job
generating, inclusive business, and empowers
consumers.
The DTI is responsible for realizing the country's
goal of globally competitive and innovative
industry and services sector that contribute to
inclusive growth and employment generation.

SEC
Securities and Exchange Commission (SEC) has
a three-part mission: Protect investors.
Maintain fair, orderly, and efficient markets.
Facilitate capital formation.
The Commission is the national government
regulatory agency charged with supervision
over the corporate sector, the capital market
participants, and the securities and investment
instruments market, and the protection of the
investing public.

CDA
The Cooperative Development Authority
(CDA) is a proactive and responsive lead
government agency for the promotion of
sustained growth and full development of
the Philippines cooperatives for them to
become broad - based instruments of social
justice, equity and balanced national
progress.
 HDMF
The Philippine Home Development
Mutual Fund (HDMF), more popularly
known as the Pag-IBIG Fund, was
established to provide a national savings
program and affordable shelter financing
for Filipino workers. Among other things,
the Fund offers its members short-term
loans and access to housing programs.