SSS sets new deadlines for contribution, loans-A A +A
Tuesday, June 7, 2011
THE Social Security System (SSS) has expanded the range of cut-off dates for contribution and loan remittances of members and employers to eliminate long queues during payment deadlines, a top official said.
SSS president and chief executive officer Emilio de Quiros Jr. said the new deadlines will be spread out from the 10th day for employees and the 20th day for self-employed and voluntary members to five different deadlines based on the employer and social security number.
"The new deadlines would take effect starting with payments for the applicable month or quarter ending on June 30," he said.
The revised deadlines are based on the 10th digit of the 13-digit employer number and the last digit of the 10-digit social security number of household employers, self-employed workers and voluntary members.
If the 10th digit of the employer (for regular employers) or SS number (for household employers, the self-employed and voluntary members) is "1" or "2", contribution and loan payments fall on or before the 10th day after the applicable month or quarter.
The deadline would be the 15th day of the following month for numbers "3" and "4"; the 20th day for number "5" and "6"; the 25th day for number "7" and "8"; and the last day of the succeeding month for numbers "9" and "0".
De Quiros said the new deadlines would apply to over-the-counter payments at SSS branch tellers, banks, Bayad Centers and SM Business Centers.
"Members and employers flock to SSS on the day of the deadline, which results in long lines and congestion. The new policy aims to address this situation," he said.
Payment deadlines for overseas Filipino workers, who have more flexible cut off dates, are unaffected by the new policy, de Quiros said.
"Payments through Auto-Debit Arrangements and BancNet Online are also excluded from the change in deadlines," he said.
OFWs who are considered voluntary members, can remit contributions for January to September on or before December 31 of the same year, while their premiums for October to December are accepted until January 31 of the following year.
Published in the Sun.Star Davao newspaper on June 08, 2011.