Here’s how SSS will benefit from TRAIN 2
Bigger businesses mean more employees contributing to the pension fund.
Social Security System (SSS) President Emmanuel Dooc said the government-run pension fund would benefit from passing package two of the tax reform program.
SSS, an attached agency of the Department of Finance, said lower corporate income taxes would attract more investments and add more jobs for Filipinos.
This, in turn, will mean more SSS members.
?Right now, our current count is we have about close to five million voluntary members, and another close to five million self-employed members. By giving incentives to the small businesses, we hope to see more robust, more vibrant business activities in this sector,? Dooc said in a statement.
“More business activities for MSMEs means covering more employees, more individuals who are working from this sector. And this will widen the safety net. This will enlarge our social security protection which is actually our goal.?
It sounds to be a long-shot deal, but it’s net positive for all especially with an pension fund with a shorter life span.