The administering agencies of the Employees’ Compensation Program (ECP), the Government Service Insurance System (GSIS) for the public sector and the Social Security System (SSS) for the private sector, have awarded a total of P574.77 million in benefits payments covering 140,911 claims filed by workers from January to June 2011.
The amount awarded comes from the State Insurance Fund (SIF) which holds the contributions paid by government agencies and private employers. This, in turn, finances the program’s benefit payments for sickness, disability, medical and rehabilitation services.
In the first semester of 2011, the total contributions remitted to the GSIS by government agencies amounted to P1.19 billion while employers of the private sector remitted P687.98 million to the SSS.
The GSIS-managed SIF funded a total amount of P30 million worth of benefits to public sector employees and their beneficiaries whereas the SSS-managed SIF distributed a total of P544.77 million.
In the public sector, the total benefit grants are as follows: P4.22 million for death benefits, P13.34 million for disability benefits, P1.26 million for sickness benefits, P8.48 million for medical services, P2.69 million for funeral services and P.009 million for rehabilitation services.
For the private sector, death benefits comprised the largest share in benefit payments which registered at P409.66 million, P60.07 million for disability benefits, P54.35 million for sickness benefits, P18.62 million for medical services, P1.99 million for funeral benefits and P.081 million for rehabilitation services.
As of June 2011, the SIF was reported to be at P9.57 billion at the GSIS and P27 billion at the SSS.