The Dumaguete City Social Security System or SSS are now accepting applicants for Personal Equity Saving Option (PESO) fund program for the active members here in the city.
What is PESO fund program?
PESO fund program is an offer by the SSS to mainly increase the member’s savings particularly for their retiring fund. This program was first launched in March last year in different SSS branches in Mento Manila and by September the program was implemented to all SSS nationwide.
“This is an offer to all those who have extra income so they can save more. They can save it in the PESO fund,” SSS Branch Manager Lilani Benedian said.
This PESO fund program is said to be a tax-free fund in which the contributions are coordinated in sovereign guaranteed instruments with sure earnings.
Benefits of applying for PESO
According to SSS, members who apply for the PESO fund program will get sixty-five percent of it’s allocated for retirement or total disability, 25% is for medical purposes and the other 10% for general use.
Aside from SSS members with employers here in Dumaguete, self-employed members, voluntary members and Overseas Filipino Workers (OFWs) who have paid the maximum amount of contributions under the regular program are also welcome to apply for the PESO fund program.
According to Assistant Branch Manager Lynlee-Lu Dato, the minimum contribution is one thousand pesos (P1, 000) per payment and the maximum contribution will be one hundred thousand pesos (P100, 000) per annum. Contributions in excess of the minimum should be in the multiples of one hundred pesos.