SSS gives self-employed members more time to pay contributions

MANILA, Philippines - The Social Security System (SSS) has extended the deadline for payment of contributions for self-employed and voluntary members to give them more time to pay up, a top official said. SSS President and Chief Executive Officer Corazon de la Paz-Bernardo said the deadline has been extended from the 10th to the 20th day after the applicable month or quarter. "The deadline was extended by 10 days to give them more time to remit contributions," de la Paz-Bernardo said. "They will now have a different payment schedule from employers, which would ease the volume of transactions in SSS offices and result in shorter lines." Contributions for July onwards are covered by the new payment schedule. This means monthly contributions for June and quarterly payments for April to June still have to be paid on or before July 10. Cutoff dates are reset to the following working day if they fall on a weekend or holiday. Self-employed and voluntary members have the option to pay contributions monthly or quarterly, but overseas Filipino workers could also make semestral and annual payments. OFWs' deadline for annual payments is December 31, and their contributions for October to December could be paid until January 31 of the following year. Companies, on the other hand, must remit employees' contributions on or before the 10th day of the following month. Employers are charged three percent monthly for late contributions. - PR/GMANews.TV