Manila launches social-security partnership with Denmark
This is under the bilateral agreement signed by the Philippines and Denmark, according to the Social Security System (SSS).
SSS International Affairs Department Manager Roberto B. Bautista said, the agreement, which was ratified in 2015 and already in effect, will benefit Filipino and Danish nationals with current or previous work in the Philippines and Denmark who have been covered by social-security legislation in either or both countries.
Among the key features of the agreement is the “totalization” provision, which allows the consolidation of contribution periods, excluding those that overlap, under Philippine and Danish legislation for the benefit of a worker who fails to meet the minimum qualifying period for pension entitlement in either or both countries.
Citing as an example, under the Philippine Social Security Law, a member must have at least 120 monthly contributions to qualify for retirement pension.
Without the agreement, the member with only 100 monthly contributions will only receive a lump-sum amount, consisting of total contributions paid, plus interest. ■