PRESIDENT Rodrigo R. Duterte has issued an order increasing the funeral benefits for employees in both the private and public sectors by P20,000 to P30,000 effective immediately.
Executive Order (EO) No. 33, signed by Mr. Duterte on July 17, directs the increase because the current compensation “is no longer sufficient to cover ordinary funeral costs.”
The GSIS currently provides a P30,000 funeral benefit while the SSS ranges between P20,000 and P40,000 depending on the contributions.
“There is a need to continually improve benefits under the Employees’ Compensation Program (ECP) to make them more responsive to the welfare and development needs of occupationally disabled workers,” the document read in part.
The EO also directs the Employees’ Compensation Commission (ECC) — which has the mandate to upgrade benefits for permanent disability or death subject to the President’s approval — as well as the Social Security System (SSS) and the Government Service Insurance System (GSIS) to release the amounts necessary.
“The ECC shall issue such [implementing] rules and regulations as may be necessary to implement this Order,” it added.
According to the EO, results of the actuarial studies of the SSS and GSIS show that the State Insurance Fund (SIF) can finance the funeral benefits increase without affecting the stability of the SIF and without requiring additional contributions. — Ian Nicolas P. Cigaral
Source: bworldonline.com