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SOCIAL SECURITY SYSTEM
SSS was created into law on September 1, 1957 under RA 1161 and was amended under RA 8282 on May 1, 1997
COVERAGE Who are covered under the SSS? COMPULSORY COVERAGE 1. Coverage of Employees a. A private employee b. A household-helper c. A Filipino seafarer d. An employee of a foreign government, international organization of their wholly-owned instrumentality based in the Phils. , which entered into an administrative agreement with SSS for the coverage of its Filipino workers e. The parent, spouse or child below 21 years old of the owner of a single proprietorship business
2. Coverage of Employers a. Any person who uses the services of another person in business, trade, industry or any undertaking. b. A foreign government, international organization such as embassy in the Philippines, may enter into administrative agreement with the SSS for coverage for the coverage of its Filipino employees. 3. Coverage of Self-employed Persons a. Self-employed professionals b. Business partners, single proprietors c. Actors, actresses, directors, scriptwriters and news reporters are not under an employer-employee relationship. d. Professional athletes, coaches, trainers, and jockeys e. Farmers and fisherfolks f. Workers in the informal sector such as cigarette vendors, watch-your-car boys, hospitality girls, among others.
VOLUNTARY COVERAGE 1. 2. 3. Separated Members Overseas Filipino Workers (OFWs) Non-working Spouse of SSS members Effectivity of Compulsory Coverage 1. 2. For an employee - on the first day of employment For an employer - on the first day the employer hires employee/s 3. For self-employed persons – upon payment of the first valid contribution, in case of initial coverage
Voluntary Members • THIS IS TO INFORM ALL CONCERNED THAT WE CAN NOT PAY OUR PREMIUMS ON OUR OWN AFTER SECURING AN SSS NO. UNLESS YOU ARE AN OFW
REGISTRATION Employee - SSS Form E-1(Personal Data Record) For Employers Single Proprietorships - SSS Form R-1(Employer Registration) and R-!A(Employment Report) /E-1 Partnerships - SSS Form R-1/R 1 -A/E-1/Articles of Partnership Corporations - R-1/R 1 -A/E-1/Articles of Incorporation Self-employed Members - SSS Form RS-1(Self-employed Date Record) Non-working Spouse - NW-1(duly signed by the spouse with MC) Overseas Filipino Workers (OFWs) - OW-1 Changes in member’s records - SSS Form E-4 Note: The original or certified true copies of the documents should be presented to the SSS for authentication purposes.
CONTRIBUTIONS Monthly contributions based on the gross compensation of SSS members are payable under two programs, as follows: SSS- 9. 4% of the average monthly compensation not exceeding P 15, 000 Employee share is 3. 33% Employer share is 6. 07% For non-working spouse ½ of the MSC of the working spouse EC- 1% or (P 10. 00)of average monthly and payable only by the employer. (P 30. 00) for employees earning P 15, 000. 00/mo OFW is not less than 5, 000 MSC
Sickness benefit? The sickness benefit is a daily cash allowance paid for the number of days a member is unable to work due to sickness or injury. What is the maternity benefit? The maternity benefit is a daily cash allowance granted to a female member who was unable to work due to childbirth or miscarriage.
SICKNESS & MATERNITY BENEFIT • Sickness benefit is a 90% replacement of lost earning and is compensable on to an employee with at least minimum of 4 days confinement either at home or in the hospital • Maternity benefit 100% of the ave. daily salary credit paid to female employee for the first 4 deliveries/abortion/miscarriage • 60 days for normal & 78 days for ceasarean delivery
What is the disability benefit? It is a cash benefit granted either as a monthly pension or a lump sum amount - to a member who becomes permanently disabled, either partially or totally. Who may qualify for the disability benefit? The member has paid at least one monthly contribution prior to the semester of contingency.
How much is the amount of Benefit? The amount is granted a monthly disability pension, plus P 500 supplemental allowance, if he/she has paid at least 36 monthly contributions If less than 36 monthly contributions, a lump sum amount. The lowest monthly pension is P 1, 000 if the member has less than ten (10) credited years of service (CYS); P 1, 200 with at least 10 CYS; and P 2, 400 with at least 20 CYS.
What is a retirement benefit? It is a cash benefit granted - either as a monthly pension or a lump sum amount - to a member who can no longer work due to old age. Who may qualify for a retirement benefit? A member who is 60 years old (optional retirement), separated from employment or has ceased to be self-employed, and has paid at least 120 monthly contributions prior to the semester of retirement; or A member who is 65 years old (mandatory retirement), whether employed or not, and has paid at least 120 monthly contributions prior to the semester of retirement.
How much monthly pension will a retiree receive? The member is granted a monthly retirement pension, if he/she has paid at least 120 monthly contributions prior to the semester of retirement. If with less than 120 monthly contributions, he/she is granted a lump sum amount. The lowest monthly pension is P 1, 200 if the member has 120 monthly contribution or with at least 10 credited years of service (CYS); P 2, 400 if with at least 20 CYS.
What is the funeral grant? A cash benefit given to whoever pays the burial expenses of the deceased member or pensioner. (pensioner-refers to retiree or partial/total disability pensioner) How much is the amount of funeral benefit? The amount of P 20, 000 is given to whoever pays the deceased member’s burial expenses.
What is the death benefit? A cash benefit granted - either as a monthly pension or a lump sum amount - to the beneficiaries of a deceased member. Who may qualify for a death benefit? The member has paid at least one monthly contribution. 35 mos. and below contributions – lumpsum 36 mos. and above – monthly pension The lowest monthly pension is P 1, 000 if with less than 10 credited years of service (CYS); P 1, 200 if with at least 10 CYS; and P 2, 400 if with at least 20 CYS
MEMBER LOAN What is a salary loan? A cash loan granted to an employed, currently paying self-employed or a voluntary member. It is intended to meet a member's short-term credit needs. Who may qualify for a salary loan? An employed, currently paying, self-employed or voluntary member (SE/VM) who has 6 posted monthly contributions for the last 12 months prior to filing of application. For one-month loan, the member-borrower must have 36 posted monthly contributions, prior to the month of filing of application.
For two-month loan, the member-borrower must have 72 posted monthly contributions. If employed, the member’s employer must be updated in contributions and loan remittances. The member must updated in payment of other loans with the SSS. • How much is the loanable amount? . A one-month salary loan is equivalent to the average of the member's latest 12 monthly salary credits posted. A two month salary loan is equivalent to twice the average of the member's latest 12 monthly salary credits posted (rounded to the next higher monthly salary credit), but not to exceed P 24, 000.
PENALTY CONDONATION • Under SSC Res. No. 238 -s 2010 dated March 25, 2010 and the Pres. of the Philippines on June 3, 2010 has approved the Penalty Condonation for Shorts Term Loans for Employer • Availment Period: January 2, 2011 to June 30, 2011 • Delinquency on or before April 1, 2010 is covered under this program.
PENALTY CONDONATION For more details please visit our Field Inspectorate Section, SSS, Dumaguete Branch at M/M Kho Bldg. , Bagacay, Dumaguete City. Tel. Nos. (035) 422 -0134 and 225 -6810
End of Presentation Thank you and God bless!