Members of the Personal Equity and Savings Option (PESO) Fund of the Social Security System (SSS) may now pay their PESO Fund contributions...
Members of the Personal Equity and Savings Option (PESO) Fund of the Social Security System (SSS) may now pay their PESO Fund contributions via Globe GCash, the state-run pension fund said over the weekend. Dubbed as the second savings for pension, PESO Fund has more than 17,000 members to date.
SSS Acting President and Chief Executive Officer Aurora Cruz-Ignacio said members who want to top-up their retirement savings will benefit from the operation of the additional collection partner.
"Acceptance of PESO Fund payments were included in the Globe GCash facility so that members can regularly remit their contributions, thereby securing an extra layer of protection for their future needs," Ignacio said.
SSS PESO Fund is a voluntary provident fund which offers an additional layer of social security protection to actively-paying members on top of their regular SSS benefits. The provident fund offers three types of accounts such as retirement and disability, medical expenses, and other financial needs such as business capital, tuition fees, among others. Enrollees also have the liberty to select their beneficiary.
Meanwhile, the GCash facility is a free mobile application exclusive to Globe or Touch Mobile prepaid users and postpaid subscribers. To start paying PESO Fund contributions using GCash, members should register either by downloading the GCash app or dialing *143# to access the self-service menu using their Globe or TM mobile accounts.
To proceed with PESO Fund payments, dial *137# and select 2 for “National Government Agency”. Choose “SSS PESO Fund” from the list of biller names, then enter the 10-digit SSS Number.
Ignacio noted that users should select 1 or “Proceed” once they have provided all the necessary information. In the next field that will appear, they should enter the four-digit GCash PIN.
"GCash users will receive a text confirmation for every successful transaction," Ignacio added.
From December 2015 to present, SSS recorded a monthly average of 1,424 SSS Globe GCash users who are also SSS members with average monthly collection amounting to P1.5 million.
"This is to encourage our paying members to use Globe GCash for a more convenient, easier, and safer means to pay their obligations with SSS," Ignacio concluded.
Aside from paying PESO Fund contributions, SSS members can use Globe GCash in paying SSS contributions, salary loans real estate loans. Further, business and household employers can use Globe Telecom’s virtual wallet facility in paying their employee’s contributions using the system-generated Payment Reference Number (PRN).
For inquiries, members may contact the GCash Customer Service Support Hotline at 739-2882 or dial 2882 using their mobile phones, SSS Call Center at 920-6446 to 55, or email onlineserviceassistance@sss.gov.ph.
