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MICROCAPITAL BRIEF: Ahon sa Hirap Incorporated, Philippine Social Security System to Expand Coverage

The Social Security System (SSS), the Philippines’ state-owned pension fund for private sector employees, reportedly has announced a new agreement with Philippines-based microfinance institution (MFI) Ahon Sa Hirap Incorporated (ASHI) to expand SSS coverage to 25,000 female ASHI borrowers. SSS president and CEO Emilio de Quiros Jr reportedly noted that “under the agreement with ASHI, SSS will make it easier for self-employed women from poor families to apply for SSS membership, loans and benefits.” He also noted that “as covered SSS members, women workers from ASHI can save for their retirement and avail themselves of SSS benefits during times of sickness, maternity, disability, old age and death.”

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