PH: SSS Signs Agreement with DMW to Establish MITC for Seafarers’ Social Security

The Social Security System (SSS) has signed a memorandum of agreement with the Department of Migrant Workers to establish the Maritime Industry Tripartite Council (MITC) aimed at ensuring coverage for all seafarers and maritime professionals. SSS president and CEO Rolando Ledesma Macasaet emphasized the commitment to addressing maritime employment concerns and protecting Filipino seafarers during the signing ceremony on May 3. The agreement will provide financial assistance to seafarers and their families for contingencies like disability, sickness, maternity, unemployment, old age, funeral, and death.

With around 350,000 seafarers already members of SSS, Macasaet urged seafarers to pay a minimum of P120 monthly contributions to receive a lifetime monthly pension upon retirement. Seafarers can also access SSS loan programs and additional coverage from the Employees’ Compensation Program. Those contributing to the regular SSS program with an MSC exceeding P20,000 will be automatically enrolled in the Workers’ Investment and Savings Program (WISP) to secure their retirement funds.

The DMW will lead the MITC efforts to ensure the welfare and protection of seafarers, with government and labor sector members including SSS, DOLE, DFA, DOH, DOT, DICT, CHED, PhilHealth, Pag-IBIG Fund, and NTC, as well as various labor unions representing seafarers. Seafarers are encouraged to join the WISP Plus voluntary retirement savings program to plan for their retirement in addition to benefits from the regular social security program, with contributions as low as P500 per payment accepted for additional security.

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