MANILA – The Social Security System (SSS) has returned about PHP5 billion to government coffers from the untapped allocation for the Small Business Wage Subsidy (SBWS) program.
During the Laging Handa public briefing Wednesday, SSS president and chief executive officer Aurora Ignacio said thousands of SSS members have not claimed their SBWS subsidy even as the agency extended the crediting of clams until June 28, 2020.
Ignacio said about 91 percent of the targeted 3.4 million employees of small businesses have been given subsidies amounting to about PHP5,000 to PHP8,000 each.
The unused funds have been returned to the Bureau of the Treasury (BTr) so this can be utilized for other programs for small businesses, she said.
She said SSS returned the funds because this is not the agency’s money but an allocation from the national government as part of its response to address the impact of the coronavirus disease 2019 (Covid-19).
“Ito po ay binigay ng gobyerno para specifically ibigay po natin sa mga nangangailangan ng tulong sa Covid calamity. (This was given by the government for those badly needing help because of the Covid calamity),” she added.
Earlier, the Department of Finance said that as of June 24, 2020, a total of 41,386 employees have yet to get their SBWS subsidies under the first tranche, while 56,978 employees have not claimed their subsidies under the second tranche. (PNA)
