IN RESPONSE to the timely processing of claims to ensure members and beneficiaries receive their benefits and loan proceeds, the Social Security System (SSS) launched the real time processing of contributions program (RTCP), where contributions and loan repayments are posted within 24 hours from the time of payment.
In line with the RTCP, SSS Circular 2018-022 was issued to inform all employers and individual members of the new payment deadlines for contributions as follows:
The new payment deadlines take effect starting September contributions for filing in October.
SSS advised that necessary enhancements will be applied to the system to align it with the revised payment deadlines, which means the affected transaction payments may be made over-the-counter for members who are not required to use the payment reference number (PRN).
Please be guided accordingly.
P&A GRANT THORNTON
Certified public accountants
Punongbayan & Araullo (P&A) is the Philippine member firm of Grant Thornton International Ltd.
October 23, 2018
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