Govt eyes affordable 4Ps insurance

THE Department of Social Welfare and Development (DSWD) and the Social Security System (SSS) signed a memorandum of agreement (MoA) for a low-priced insurance contribution program for beneficiaries of the Pantawid Pamilyang Pilipino Program (4Ps).

DSWD Secretary Rexlon Gatchalian and SSS President and Chief Executive Officer Rolando Macasaet signed the MoA on Monday.

Under the program dubbed «4Ps AlkanSSSya,» the DSWD and the SSS shall establish a contribution subsidy table specific for the 4Ps organized groups upon SSS' determination based on an actuarial study and the actual capacity of the beneficiaries to pay the minimum amount of P570 per month.

Gatchalian said his agency would make sure 4Ps beneficiaries are educated on the importance and benefits of the SSS membership and savings scheme and have access to low-cost social insurance.

«It also contributes to the DSWD's financial literacy efforts among its beneficiaries,» said the DSWD chief as he lauded the latest collaboration, this time with SSS.

This partnership with SSS will extend social security coverage to 4Ps beneficiaries, providing them with safety nets from income loss, sickness, and other financial burden, DSWD Assistant Secretary and agency spokesman Irene Dumlao said.

She said that the SSS monthly premium will be shouldered by the beneficiaries themselves.

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Beneficiaries who are members of workers' associations, informal sector groups and Sustainable Livelihood Program Associations will also be covered by this partnership, she added.

Under the agreement, the SSS will also assist the DSWD in the registration and processing of applications of all eligible beneficiaries.

Moreover, the roles and responsibilities of both agencies in the conduct of seminars and orientation activities for the 4Ps organized groups are also included in the agreement.

On Monday, 4Ps National Program Manager and Director Gemma Gabuya said insurance is integral to the DSWD's Social Welfare and Development Indicator Framework.

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«Before graduating from 4Ps, it is crucial for beneficiaries to have security or insurance,» Gabuya said.

According to the DSWD, the initiative was part of its commitment to