Back in April, when the threat of the infamous Coronavirus Disease 2019 (COVID-19) is at its peak, the Social Security System (SSS) released their form of financial assistance to employees of small businesses in the country.
The SBWS or the Small Business Wage Subsidy is the program offered to small business employees as a form of help and assistance due to the Enhanced Community Quarantine (ECQ) that the entire country experienced.
Since the day it was launched and was initiated, many small business employees grew frantic about getting it. There were even points in time where the website was down because of the traffic.
But it grew well and in fact, several employees were able to take advantage of it. Just yesterday, though, the agency had a special advisory specifically to small business employees who have been anticipating their financial aid.
Brief SBWS Info
If you’re not in the know, here are a few critical and vital points of information about the SBWS that you would want to know and be aware of:
- It is the subsidy given by the Department of Finance (DoF) through the SSS to small business employees
- The amount of the subsidy would be anywhere from P5,000 to P8,000
- The SBWS would have two (2) tranches as anticipation for the influx of employer applications and registrations
If you want to have a more in-depth knowledge about the SBWS, you can learn more about it here: How to Avail Small Business Wage Subsidy (SBWS) Program
Based on the announcement/advisory sent out by the SSS, there was a bit of a delay in the payouts for the first tranche of the SBWS subsidies. Some of the reasons and the causes for the delay includes:
- Insufficient and Lacking Information From Employers
- Invalid or Incorrect Bank Accounts Provided by Employers
- Wrong Phone Numbers and Email Addresses From Employers
So technically, the SBWS advisory was all pointed towards one direction — the improvement of the system and how employers could have double-checked everything they’ve submitted to the SSS.
Watch this video.
Not the SSS’ Fault
To further clarify, the SSS would like to emphasize that it was not their fault that the first tranche of the payout is delayed. Instead, these were all due to technical and regular reasons and humanly mistakes made by employers.
There’s nothing to blame — it is a result of a simultaneous influx of inquiries and requests by employers to the SSS in accordance to the SBWS program.
What the SSS is Doing
To give all SBWS beneficiaries a light during these dark times, the SSS is in constant communication with employers as well as the bodies of the company. They’ve been reaching out to these employers in the hopes of getting the right and the correct information so the subsidy program can push through.
As per the SBWS advisory, the SSS said that:
[We] have been emailing employers with lacking or invalid credentials to allow them to correct their employees’ bank account or mobile numbers so we can proceed with their payouts.”
Akin to any other government agencies in the country, the SSS is constantly working towards the provision of these cash aids to respective beneficiaries.
Did You Get Yours?
In addition to the main message of the SBWS advisory, the SSS also mentioned that if you haven’t received yours yet, what you need to do is to coordinate with your employer to check if the bank account number, the mobile number, or the email address that they have supplied to the SSS is valid and correct.
As of May 7, 2020, the SSS has reported that for the first tranche, a total of 1,261,044 employees have received the SBWS benefit. Around 2.2 million employees; which has been amassed by the application of over 101,400 employers from all over the country was reported.
Take note, that amount is something that the DoF is working on. In our part, the delay is something we can expect to be normal — there are technical glitches that have happened and we need to accept it.
With the SBWS advisory, you’re now sure that the financial aid is on its way — it was just delayed because of human error and mistakes. It’s going to come and you will be able to receive it.
What do you think about the delays and the problems that the agency is experiencing? Do you think that this is something that the SSS can fix quickly?
You can check out the Facebook post of the Official page of the SSS here: