POINTWEST Technologies Corp. (PTC) announced recently it was tapped by the country’s private pension-fund manager to make the Social Security System (SSS) Personal Equity and Saving Option (Peso) Fund more accessible to its members.
Executive Rhea Latoga said the project requires the PTC to develop a “cutting-edge” system.
“We’re well aware we’re talking about people’s life savings here. So we’re helping the SSS make sure the system is as reliable as can be.”
Launched in 2014, the Peso Fund seeks to give Filipino workers, whether here or abroad, more options to save for retirement. Through this program, members who have the capacity to contribute more are given the opportunity to save more in order to receive additional benefits in the future.
For now, however, SSS members can only avail the Peso Fund by personally appearing at select SSS branches. Enrollment in all SSS branches nationwide plus online enrollment are still in the pipeline.
To further digitize the process, Latoga said the SSS tapped Pointwest to build an application that seamlessly integrates the Peso Fund online enrollment into the SSS system, particularly its member database. This would allow SSS members to enroll their Peso Fund to the “My SSS” platform.
Through this, members only have to register for their Peso Fund once, Latoga explained. After which, they can make requests and check their accounts online, she added.
The Peso Fund is one of several projects PTC is doing with the Philippine government. Another is with the Department of Science and Technology (DOST) for the DOST’s disaster monitoring and hazards response project.