last week, i promised to discuss issues raised by HTT on social security issues.
in this issue, he discusses the original intent behind the SSS Law, the history behind the development of the different, fragmented pension scheme - that is, the SSS, the GSIS, the military, etc.
i happen to agree that any individual should be able to contribute to the SSS as a voluntary member at the very least. the methodology by which individuals can begin to contribute should be easy. As easy as showing an authentic birth certificate and starting to pay. it shouldnt matter what his job is, or how he is getting the income to pay the where-withall, as long as he pays.
how else can people, with no formal jobs (say plumbers, or carpenters), no formal associations (like CPAs). become members so that they can have pensions in their retirement?
why SSS? well, by-and-large, people need someone to handle their financial affairs for the future. So why not SSS?
for the slightly more financial-savvy, there's always the simple PERA (Personal Equity Retirement Account). although i dont hear/read about its implementation anymore. i did suggest that SSS be one of the vehicles by which this be implemented (see post with PERA label) because it would be much easier for a large number of Pinoys.
Debate with me. comment.
Click here for the pension discussion of Horace T. Templo
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