Being an SSS member not only assures of retirement pension upon attainment of minimum monthly contributions, it also offers several benefits such as sickness, disability, maternity and financial loans. Typically, this provident fund scheme is funded by both employer and SSS member employee. However, it is also possible for an SSS member to contribute voluntarily.
Here are the things you need to know if you are planning to contribute as a voluntary SSS member.
1. SSS members who failed to continuously remit their monthly contributions due to cease of employment or you decided to start your own business, they can continue to remit to their SSS account as a voluntary member. There is no need to apply for a new SSS number nor remit to the unpaid months and years. You only need to remit contributions for the existing quarter, and the coming months.
2. Remember the deadline of your remittance contributions as voluntary SSS member. To determine your deadline, check the last digit of your SS number.
- If the number is 1 or 2, the deadline is the 10th of the following month
- If the number is 3 or 4, the deadline is the 15th of the following month
- If the number is 5 or 6, the deadline is the 20th of the following month
- If the number is 7 or 8, the deadline is the 25th of the following month
- If the number is 9 or 0, the deadline is the last day of the following month
3. To check your status of contributions, loans or other transactions, you may check your SS records online at https://www.sss.gov.ph. To register online, just provide the receipt number of the last contribution you made. Activation of your online access may take up to 24 hours. Upon access, you can check the record of your contributions, loan balance, and other related information such as verification if your former employers have made their counterpart contributions.
4. Here are the milestones for you to reach to become eligible of SSS benefits
- 36 months – you may qualify to apply for SSS loans; prior contributions for the past six months must be made
- 120 months – you may qualify to receive SSS pension. If you can continue to remit to your accounts beyond this period, and made higher contributions in the last five years before reaching 60 years, you will receive higher monthly pensions.
- 4 – the number of times you can avail of Maternity Benefit. Just submit the Maternity Notification to SSS upon confirmation of pregnancy. To qualify, as member you need to contribute for three months within the 12 months before the first trimester of pregnancy.
5. To those who have unpaid outstanding SSS loans, there is Loan Condonation program from April 2 – October 1, 2018. This is a good opportunity to restructure your loans and possibly reduce penalty incurred.
