The Social Security System is the social insurance in the Philippines that is offered to the workers both from informal sectors up to the professionals who work in private firms. The SSS is established by virtue of the Social Security Act of 1954. This was then amended in 1997 by Republic Act No. 8282. There are two types of categories to classify the SSS members. The first of which is the compulsory contribution which is meant for the employees and even the self-employed to pay a fixed amount of contribution monthly. For the employees, it can be paid through their company and on the other hand, self-employed can pay the contributions directly to the SSS. Those who are earning at least 1000 pesos monthly are entitled to be under the self-employed and can pay their contributions directly to SSS.
On the other hand, the second category of SSS members are those who pay their voluntary contributions. SSS members who fall under the voluntary contributions category are as follows: OFWs, unemployed spouse of an active member, and the members who are separated.
How much is the amount to be paid to SSS?
The amount to be paid for the voluntary contributors vary from their compensation and other sources of income. Employed members who are earning a monthly salary of not more than Php 16,000 are entitled to pay 11% of their salary. The 11% is shouldered by both the employer and the employee. The 7.37% is paid by the employer and the rest which is 3.63% is paid by the employee. For the next type of contributors who are classified under the non-working spouses of the active members, the computation of their contribution is about 50% of their active spouse’s monthly salary. The contribution should not be lower than Php 1000. Lastly, the OFW contribution falls under the Php 5000 monthly SSS contribution.
When is the deadline for filing the SSS contributions?
The employees are the most worry free members of all since their employers are the ones who are filing their contributions. Their deadline is mostly based on the last tenth digit of their employee number. The voluntary and self-employed members share the same deadline with the employed members while the OFW members have a special deadline to follow.
The voluntary members and self-employed members vary from the employed members in the frequency of their payment of the contributions. They can choose from quarterly to monthly payments whichever they may find more convenient. On the other hand, OFWs can pay once a year.
What are the consequences of delayed payment of contributions?
Late payments of the SSS contributions would result to penalties and of course, this would affect the processing of claims in the future.
Where can I pay my SSS contributions?
You can pay your SSS contributions through the following branches nationwide:
- SSS Main Office
- SSS Accredited Commercial Banks
- SSS Branch Tellering Counters
- CIS Bayad Centers
- Business Centers of SM
For the OFWs who are working abroad, they can pay through the following channels:
- PNB Overseas Payment System
Another option to pay your SSS contribution is through Auto Debit Arrangement of your bank of choice.
The RS-5 form or the contributions payment return is the form needed to be filled out, in order to pay the voluntary contributions of the separated members.