Every year, the Social Security System (SSS) issues a table and schedule of fees that shows how much members (employees and employers) need to pay as contributions every month. This is also an important tool used by companies in determining the amounts to be deducted from employees’ salaries per cut-off. Please be guided with the information below with the update amount of contribution per month for every member the schedule of payments. The amount and the deadlines of payment vary depending on your income situation so you need to understand which category you belong and send your contributions as per your status.
Also Read: How to Check SSS Contributions via Text
This SSS table can be used by individual members when checking their contributions posted online. Moreover, we can refer to the table’s monthly salary credit (MSC) based on our salary bracket, to determine the loans and benefits that we can avail from SSS.
SSS Contribution Table & Payment Schedule for 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. It is also depends on whether you are Employed, Self-Employed, a Voluntary Member, a Non-Working Spouse, or an Overseas Filipino Worker (OFW).
New SSS Contribution Table for Employed/Self-Employed/Voluntary Member/Non-Working Spouse
Effective April 2019, below is the new SSS Contribution Table for Employed, Self-Employed, Voluntary Members, and Non-Working Spouses.
For Employed Members, the minimum monthly salary credit is PHP 2,000, with a total contribution of PHP 250, while the maximum monthly salary credit is PHP 20,000, with a total contribution of PHP 2,430.
For Self-Employed, Voluntary Members/Non-Working Spouses, the minimum and maximum total monthly contributions are PHP 240 and PHP 2,400, respectively.
NOTE: The contribution of a Non-Working Spouse is based on 50 percent of the monthly salary credit of his/her working spouse. In case this amount does not correspond to any MSCs in the table, the higher MSC would be followed.
New SSS Contribution Table for OFW Members
Meanwhile, below is the new SSS Contribution Table for OFW Members, indicating that the minimum monthly salary credit is PHP 8,000. Please take note of the difference between land-based OFWs in countries that have bilateral labor agreements with the Philippines, along with sea-based OFWS, as compared to land-based OFWs in countries without bilateral labor agreements.
For sea-based OFWs and land-based OFWs in countries with bilateral labor agreements, the minimum total contribution is PHP 970, whereas the maximum contribution is PHP 2,430 per month. On the other hand, the minimum and maximum monthly contributions for land-based OFWs in countries without bilateral labor agreements are PHP 960 and PHP 2400, respectively.
Payment Schedule for All SSS members (Employee & Employers)
There are also updates in terms of the schedule when you should pay, whether you are a regular employee or you want to pay voluntarily. Please make sure that you are aware of the dates and deadlines because it is only for special cases (like OFWs) that you are able to backtrack your payment, but even so, there is still a last day for you to backtrack your contributions.
As for the payment schedule, the deadline for paying monthly contributions remain as follows:
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 payments 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 that 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 payments as shown above.
The establishment of state-owned funds like the 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.
Please do not ever forget to keep contributing for your SSS membership as this will help you in the long run. If you may feel that the amount of pension may not be enough when you retire, it is still a lot better to have something to receive every month compared to not having anything at all. It is wise to invest in our future because it is not all the time that we are young and able. Better learn to use our money and put them to good use.
Also, try to put off money for savings because we don’t know what the future holds for us. Let us all learn to have proper financial education and make sure that we do not easily let our emotions get the better of us especially when it comes to shopping and purchasing unnecessary items.
We hope you find the SSS table and tips above as your main source of reference when you want to know how much you need to pay if you want to continue paying for your Social Security System benefits.