SSS extends options for contributions, sickness benefits

MANILA, Philippines — The Social Security System (SSS) has given its members leeway to pay for their contribution as well as the submission of sickness notifications to the state-run pension fund.

SSS recently issued a circular to all business and household employers and coverage and collection partners (CCPs).

The circular extends the deadline of remittance of contributions and submission of sickness notification for employers and CCPs.

The SSS circular comes after employers and CCPs were affected in the multi-factor authentication and added security features in the log-in details of the SSS portal.

For business employers, the SSS said contributions for September and October may be paid until end-December.

While household employers’ contributions for the entire third quarter may be settled until year end as well.

For CCPs, the same extended deadline has been set for contribution collection for July to October this year.

Meanwhile, the deadline for submission of sickness notification is until Dec. 29 for contingency dates starting Oct. 20 to Dec. 19.

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.