SSS encourages members with unpaid loans to avail of the loan penalty condonation program

by Info @Brand Zone | March 6, 2023

Social Security System (SSS) Executive Vice President for Investments Sector Rizaldy T. Capulong said that SSS President and Chief Executive Officer Rolando Ledesma Macasaet announced the condonation of penalties of members with past-due loans to help them regain their good standing with the SSS and once again avail of SSS loans.

Capulong urged members with unpaid short-term member loans to avail of the Consolidation of Past Due Short-Term Member Loans with Condonation of Penalty (Conso Loan), wherein SSS will waive the penalties of their unpaid loans.

“We listen to the clamor of our members and one of which is to offer a condonation program for those who have past-due loans,” Capulong said.

Under the Conso Loan program, Capulong explained SSS shall combine the principal and interest of a member’s past-due short-term member loans into one consolidated loan while all unpaid penalties shall be consolidated and condoned or waived upon full payment of the consolidated loan.

Capulong said that members with outstanding loan obligations in their salary, calamity, emergency, and restructured loans, including the Salary Loan Early Renewal Program (SLERP), are qualified to avail of the program.

“We want to persuade our members with unpaid loans to grab this opportunity to pay their past-due loans without penalties through an easy payment scheme. We launched this program as a relief to aid our members who find it challenging to fulfill their loan obligations with the SSS. This offer is available while the program lasts,” Capulong said.

He added that interested members must meet the following requirements to qualify for the program:

• have a past-due short-term member loan at the time of their application;

• have not been granted any final benefit such as permanent total disability or retirement;

• have not been disqualified due to fraud committed against the SSS; and  

• have an active My.SSS account.

He said members may submit their application for the Conso Loan program online through their My.SSS account.

“Members may pay their consolidated loan through a one-time payment within thirty (30) calendar days after receiving the approval notice, or they may also opt to pay through installment,” he said.

For the installment scheme, Capulong explained members must pay a down payment equivalent to at least 10% of the consolidated loan within thirty (30) calendar days after receiving the approval notice. Meanwhile, they can pay the remaining balance for up to 60 months, wherein the length of the installment term depends on the amount of the unpaid loan.

However, he noted that if the member fails to meet the payment terms based on the consolidated loan agreement, SSS will deduct the outstanding balance of the consolidated loan from the short-term benefits (sickness, maternity, or partial disability benefit claims) and final benefits (permanent total disability, death, retirement), as authorized by the Social Security Commission (SSC).  

He added that the outstanding balance of the consolidated loan can also be deducted from the death benefit of the members’ beneficiaries or deducted from the actual final benefit claims.

As of December 2023, Capulong said that more than half a million members has availed of the Conso Loan program and SSS has already condoned more than P7.3 billion loan penalties.

SSS net income in 2023 soars to P83 billion

by Info @Brand Zone | February 23, 2023

The Social Security System (SSS) announced its net income in 2023 exceeded by 62.8 percent its target of P51.06 billion to P83.13 billion as it recorded higher revenues than its expenses.

Based on its 2023 unaudited financial statement, SSS’ net income of P83.13 billion in 2023 surpassed the P52.60 billion net income recorded in the previous year.

SSS President and Chief Executive Officer Rolando Ledesma Macasaet noted that the P83.13 billion profit last year was the highest net income attained by SSS.

“Our revenue in 2023 grew by 15.6 percent to P353.82 billion from P306.16 billion in the previous year,” Macasaet said.

He said that the bulk of SSS revenue in 2023 came from contribution collection, which rose by 18.2 percent to P309.12 billion from the P261.44 billion collected in 2022.

“Our record-high net income last year shows that we continue to strengthen our finances through programs and policies that increase new paying members and strengthen collection efforts,” he added.

Macasaet said that SSS recorded lower-than-revenue expenses of P270.69 billion, wherein the lion’s share of the total expenditure in 2023 went to benefit payments to members and pensioners.

“Our 2023 expenses reflect how SSS has prudently kept its expenses at modest levels and ensure that every peso contributed by its members are well spent for the benefit of all its stakeholders,” Macasaet said.

He said benefit payments last year stood at P259.03 billion, up by 6.7 percent from P242.81 billion in 2022, while our operating expenses were at P11.65 billion, 8.4 percent higher than the P10.75 billion a year ago.

“Our operating expenses last year were only 30.32 percent of the allowed charter limit of P38.4 billion. Based on our charter, the operating expenses are 12 percent of the contribution collections and 3 percent of other SSS income such as investments and loans,” Macasaet explained.

Macasaet attributed the outstanding financial performance of SSS last year to the efforts of the SSS management and employees in intensifying its collection activities such as registering new paying members, improved collection from delinquent employers, and the 2023 contribution rate hike.

“We implemented new initiatives in 2023 that resulted to an expansion of SSS membership and reaching more workers,” SSS Executive Vice President for Branch Operations Sector Voltaire P. Agas said.

Agas also explained that it recorded a high collection of delinquencies from employers who are not remitting their employees’ contributions due to the Run After Contribution Evaders (RACE) campaign.

Delivery rider, pwede maging self-employed member ng SSS

@Buti na lang may SSS | Pebrero 18, 2024

Dear SSS,

Magandang araw. Ako ay isang delivery rider ng isang food delivery app. Batid ko sa araw- araw na pag-deliver ng mga order ng aming mga customer ay lubhang napakadelikado ito at malapit sa aksidente. Kaya nais kong malaman kung maaari rin ba akong makapaghulog sa SSS? Salamat. — Oscar

Mabuting araw sa iyo, Oscar!

Malugod naming ipinaaalam sa iyo na maaari kang maging miyembro ng SSS bilang self- employed. Simula pa noong 1980 ay itinakda na sa ilalim ng Republic Act 1161 o Social Security Act of 1957 ang pagsakop sa mga self-employed na indibidwal na may buwanang kita na P1,000 o higit pa mula sa kanyang sariling negosyo o propesyon at walang employer, kung hindi pa siya umaabot sa 60-taong gulang.

Kabilang dito ang mga propesyonal tulad ng abogado o doktor, may sariling opisina man o wala, mga nagmamay-ari o magkasosyo sa negosyo, mga artista, direktor o manunulat ng pelikula na hindi itinuturing na empleyado, mga propesyonal na atleta, coaches, hinete at tagapagsanay, gayundin ang mga magsasaka at mangingisda na sinaklaw simula noong 1995, mga nagtitinda sa palengke, tricycle o jeepney drivers, at mga contractual at job order na empleyado na nagtatrabaho sa mga ahensya ng pamahalaan.

Noong Oktubre 2021 naman, pinaigting ng SSS ang kampanya nito na mabigyan ng SSS coverage ang mga katulad mong delivery rider ng mga digital platform companies tulad ng Angkas, Dingdong, Foodpanda, Grab, JoyRide, Lalamove, atbp.

Sa kasalukuyan, ang SSS contribution rate ay 14% ng monthly salary credit na hindi hihigit sa P30,000. Maaari mo namang ibatay ang halaga ng iyong magiging buwanang kontribusyon sa monthly salary credit o ang salary level kung saan nakabase ang iyong buwanang kita na idineklara mo sa registration form o SS Form E-1 (Personal Record). Ang Schedule of Contributions ay makikita sa SSS website, www.sss.gov.ph o kaya’y sa Facebook page nito sa Philippine Social Security System.

Samantala, ang buwanang kontribusyon ng self-employed ay maaaring tumaas o bumaba batay sa iyong aktuwal na kinikita.

Halimbawa, ang idineklara mong buwanang kita sa registration form ay P10,200. Batay sa Schedule of Contributions, ito ay katumbas sa P10,000 monthly salary credit at may kaukulang SSS contribution na P1,400 kada buwan at P10 naman kada buwan ang para sa iyong Employee’s Compensation (EC) contributions na may kabuuang halaga ng kontribusyon na P1,410 kada buwan.

Para sa iyong kaalaman, Oscar, ang EC Program ay para sa mga work-related contingencies bunsod ng pagkakasakit, pagkabalda, o kaya’y pagkamatay na maaaring mangyari sa isang self- employed na gaya mo habang nagtatrabaho. Dagdag-proteksyon naman din ito bukod sa regular SSS benefits na matatanggap mo sa hinaharap.

Maaari ka na ring kumuha ng SS number online. Bisitahin lamang ang SSS website at i-click ang link sa No SS Number Yet? Apply Online! Kung ikaw ay may SS number, maaari na ring i- update ang membership mo rito sa online. Kinakailangan lamang na nakapagrehistro ka sa My.SSS na matatagpuan din sa SSS website. Dagdag pa rito, kailangan mo rin ang mga dokumentong tulad ng certified true copy ng iyong birth certificate upang mabigyan ka ng SS number. Kung wala kang birth certificate, maaaring isumite ang alinman sa mga sumusunod: baptismal certificate; driver’s license, passport; Professional Regulation Commission (PRC) card; o Seaman’s Book. Kung wala ang mga nasabing cards o dokumento, maaaring magpasa ng dalawang valid IDs gaya ng postal, voter’s ID, atbp.

Matapos nito, maaari ka nang magbayad ng iyong kontribusyon kada buwan o kaya ay quarterly. Para makapagbayad, kailangan mo munang mag-generate ng Payment Reference Number (PRN) gamit ang iyong existing na My.SSS username at password sa SSS Mobile App.

Sunod, i-tap mo ang “Generate PRN/SOA” icon na iyong makikita sa iyong mobile screen. Matapos nito, i-tap mo ang “Create” at punuan mo ang mga hinihinging impormasyon gaya ng buwan, halaga ng babayarang kontribusyon at type ng membership. Kapag naibigay mo na ang lahat ng kailangang impormasyon, i-tap mo ang “SUBMIT” at lalabas ang iyong PRN/SOA. Maaari mo itong i-download bilang PDF o ‘di kaya’y magtuloy na sa pagbabayad.

Maaari mong bayaran ang iyong kontribusyon gamit ang SSS Mobile App, Bayad o GCash app o kaya’y sa ShopeePay. Gayundin, maaari mo itong bayaran sa pamamagitan ng internet banking facility ng Security Bank at Union Bank of the Philippines, SSS tellering facility, mga accredited payment centers, at SSS-accredited partner agents.

***

Patuloy na tumatanggap ng aplikasyon ang SSS para sa loan penalty condonation program nito. Inilunsad ang Consolidation of Past Due Short-Term Member Loans with Condonation of Penalty Program (Conso Loan) para tulungan ang mga miyembro na mayroong past-due loans sa SSS. Sa ilalim ng programa, hindi na sisingilin ang kaukulang penalties o multa ng kanilang past-due loans. Sa halip, ang tangi na lamang nilang babayaran ay ang orihinal o principal amount at interes nito.

Maaaring bayaran ang prinsipal at interes sa pamamagitan ng one-time full payment, o kaya’y bayaran kahit 10% nito bilang down payment at ang natitirang balanse ay babayaran nang hulugan sa loob ng hanggang 60 buwan o limang taon, depende sa halaga ng kanilang pagkakautang.

Sakop ng Conso Loan ang salary loan, calamity loan, Salary Loan Early Renewal Program (SLERP), emergency loan, at restructured loans gaya ng Loan Restructuring Program (LRP) noong mga nakaraang taon.

***

Para sa tamang impormasyon at updates sa mga programa at benepisyo ng SSS, bisitahin at i-follow ang opisyal na Facebook page ng SSS sa “Philippine Social Security System - SSS” o sa X, ang dating Twitter, sa @PHLSSS. Maaari ring mag-subscribe sa YouTube channel sa “MYSSSPH”, at sumali sa SSS Viber Community, “MYSSSPH Updates”. Maaari kayong magpadala ng inyong concerns at katanungan sa usssaptayo@sss.gov.ph.