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SSS announces new contribution payment scheme

September 22, 2022 - Thursday 4:09 PM by Catherine Cueto

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The Social Security System (SSS) launched a new contribution payment scheme to provide a more flexible schedule, especially for self-employed individuals.

In a statement, SSS president and chief executive officer Michael Regino said that the new contribution payment schedule would allow certain SSS members to pay for any of the last 12 months during the current month.

This means that the self-employed SSS members, including farmers and fisherfolk, can pay the monthly contributions for October 2021 to September 2022.

Under the previous payment scheme, members could only pay their monthly contributions for July to September 2022 until October 31, 2022.

“We saw that the current payment schedule for self-employed members, which also includes farmers and fisherfolk, is not suitable for them,” Regino said.

“Our farmers and fisherfolk do not have a regular monthly income from their produce, unlike ordinary workers. They only get their earnings on a seasonal basis, so we devised this scheme that allows them to pay their SSS contributions for all months in a year,” he added.

The government-run SSS gives social justice and protects members and their families, including hazards of disability, sickness, maternity, old age, death, and other contingencies resulting in loss of income or financial burden.

Meanwhile, the self-employed SSS members are entitled to benefits that cover sickness, maternity, retirement, disability, funeral, and death, along with loan programs that cover salary, calamity, and educational assistance. 

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