SSS reminds members to continue monthly contribution payments

The SSS reiterates the importance of continuing the monthly contribution payments of its members to continue receiving benefits and privileges amid the pandemic.

SSS President and CEO Aurora C. Ignacio is encouraging its members who are voluntarily paying their dues and those who are involuntarily separated to continue their membership with the state fund as this will help them in future contingencies.

“We understand that times are difficult right now but continuing your membership with SSS is one of the most practical decisions that you can make for yourself and your family.  Consider your SSS contributions as savings for today and an investment for your future,” she pointed out.

“Regularly-paying members are entitled to these social security benefits provided that they meet the specific qualifying conditions set for each benefit eligibility. It is also essential that the member is updated in paying his contributions to apply for such benefits or loans,” Ignacio said.

SSS estimates there were three (3) million members who stopped paying their contributions last year because of temporary or permanent loss of jobs due to business closure. Meanwhile, informal or voluntary members may try to prioritize spending for their immediate needs, such as food and shelter, as the ongoing COVID-19 pandemic has caused a lot of uncertainties.

“We do not want these members to lose the privilege of availing other benefits from SSS as a result of this situation. We have to convince them to come back, this time as voluntary paying members,” the SSS Chief emphasized.

Starting January 2021, employed members are mandated under Republic Act 11199 to contribute 13% of the monthly salary credit (MSC), a 1-percentage increase from the previous years’ 12%. With a monthly salary credit between P3,000 to P25,000, this amount will be shared between the employee and employer at 4.5% and 8.5%, respectively.

For land-based OFWs, the minimum MSC is pegged at P8,250 for a monthly contribution of P1,040.00, although they may opt to pay a higher contribution amount to increase their benefits.  For non-working spouses, contribution will be based on the working spouse’s latest posted MSC, but in no case shall it be lower than P3,000.

Self-employed members, however, must pay the full 13% contribution, based on their monthly earnings declared at the time of registration. For those who were involuntary separated from employment, they may resume payment of their monthly contributions as voluntary members by paying any amount they can afford to continue.

To resume payment of contributions, simply register/login to their My.SSS account. Generate the Payment Reference Number, choose Voluntary as membership type, select the applicable month and the monthly salary credit. Payments may be settled through SSS Mobile App, My.SSS, over-the-counter, internet banking, and mobile facility.

SSS administers two programs, namely the Social Security Program, which covers sickness, maternity, disability, unemployment, retirement, funeral, and death, and the Employees Compensation Program (ECP) for work-related injuries such as sickness, disability, death, and funeral.