- Viable – means that social security protection shall be provided through generations.
- Universal – means that social security protection shall be provided to all of the Philippines, citizens and non-citizens alike, regardless of creed, gender, age, geographic location and economic status, especially the disadvantaged, so that no one will become a burden to society.
- Equitable – means fair and uniform coverage shall be made available to all. Benefits shall be meaningful and able to sustain a decent standard of living.
- World-class Service – means the highest standard of social security service shall be provided to ensure total member such as prompt, accurate and courteous.
With the implementation of the SS Law, the Philippine government also adopted the social insurance approach to social security, covering the employed segment of the labor force in the private sector.
- The Social Security Program
- The Employee’s Compensation (EC) Program
- Social security provides replacement income for workers in times of death, disability, sickness, maternity and old-age. On May 1, 1997, former President Fidel V. Ramos signed Republic Act 8282, further strengthening the SSS. Also known as the Social Security Act of 1997, it amended RA 1161, providing for better benefit packages, expansion of coverage, flexibility in investments, stiffer penalties for violators of the law, con-donation of penalties of delinquent employers and the establishment of a voluntary provident fund for members.