Every year, the Social Security System (SSS) issues a table and schedule of fees that shows how much members (employees and employers) are to pay for their contributions every month. This is also an important tool used by HRs in determining the total deduction they will apply on their employees’ pay for each cut-off.
Similarly, this table can be used by individual members when checking their contributions posted online. Moreover, we can refer to the table’s monthly salary credit based on our salary bracket, to determine which loans and benefits we can avail from SSS.
How Much You Should Pay for SSS Every Month – Contributions Table & Payment Schedule 2019
Every month, members pay their contributions voluntarily or through the company they work for. Basically, monthly contributions are computed based on the salary bracket to which a member is categorized. At present, the contribution rate is at 11% of the monthly salary credit, not exceeding PHP 16,000 – which is split between the employer (7.37%) and the employee (3.36%).
Below is the complete table of contributions which we will further break down as we go on:
SSS Contributions Table for Employer/Employee Members in 2018
SSS Contributions Table for Voluntary/Self-Employed Members in 2019
The following table applies to self-employed, OFW, and voluntary members who may want to settle their member contributions individually. This scheme also follows the 11% contribution rate of the member’s monthly salary credit based on the monthly income declared upon registration.
Note: The minimum monthly salary credit for OFW members is PHP 5,000.
And while there has been a proposed bill which seeks to increase the member contribution rate from 11% to 12.5%, official word has yet been released by relevant authorities. Therefore, the rate to be followed is still at 11%. Along with the proposed increase in contribution rate is also an increase in the maximum salary credit from PHP 16,000 to PHP 20,000. However, changes are yet to be applied until the bill becomes fully approved.
Payment Schedule for All SSS members (Employee & Employers)
For Employed members: Take note of the payment deadlines for member contributions and loans (if any) to avoid incurring penalties. Employee members should also check if their employers are paying for their monthly contributions and member loans based on the prescribed schedule of payment as shown above. Late payments will result in penalties and delays in the processing/approval of member benefits as well as loans.
For voluntary or self-employed members: Settle your payments following the above schedule. However, you can decide on the frequency terms of settling your payments – either on a monthly or quarterly basis. A quarter covers three calendar months which end on the last day of March, June, September, and December. Payment for one, two or all months in a quarter is accepted.
For OFWs: You may settle your payment for the months of January to December of any given year within the same year. Contributions for the months of October to December of a given year may also be settled on or before January 31st of the following year.
Dates for Settlement of Loan Payments: Member loans are to be settled on a monthly basis in reference to the prescribed schedule of payment as shown above.
The establishment of the state-owned fund otherwise known as the Social Security System (SSS) aims to provide financial support, assistance, and security for eligible Filipino citizens through the many services and benefits they offer. Therefore, as private working individuals, we are eligible to be part of the national fund system, and it is our responsibility to settle our dues accordingly so that we can take advantage of the benefits and services that the SSS offers. (Also READ: How OFWs can get their SSS Payment Reference Number)