SSS extends payments of typhoon-hit members

MANILA, Philippines — The Social Security System (SSS) has given its members in typhoon-hit areas leeway to pay for their delayed contributions to the state-run pension fund.

SSS recently issued a circular to all employers, coverage and collection partners (CCPs), and individual members.

The circular extends the deadline of remittance of contributions in areas affected by southwest monsoon enhanced by tropical cyclones Egay and Falcon.

Typhoon Egay hit the Philippines toward end-July while Falcon entered just a few days later leading to rains and floods especially in the northern part of the country.

The SSS circular also comes after earlier resolutions were issued by the pension fund amid declaration of state of calamity in affected provinces.

These include Ilocos Norte, Ilocos Sur, La Union, Pangasinan, Cagayan, Bataan, Bulacan, Nueva Ecijano, Pampanga, Tarlac, Cavite, Rizal, Occidental Mindoro, Abra, Apayao, Benguet, Ifugao, and Mt. Province.

The circular covers the month of June for business employers and the entire second quarter for household employers, CCPs, and individual members.

SSS said the circular provides that no contributions paid retroactively by individual members shall be used in determining his eligibility to any benefit arising from a contingency wherein the date of payment is within or after the semester.

Members pay monthly contributions to the state-run pension fund, which in turn are being used for benefits such as retirement, as well as other loans under SSS.

The contribution rate is currently at 14 percent of a person’s monthly salary credit, which is being shared at a 9.5:4.5 ratio by the employer and employee, respectively.