Bill seeks penalty reprieve on missed SSS dues

MANILA, Philippines - Employers who failed to remit the mandatory contribution of their workers to the Social Security System (SSS) may get away with penalties and interest payments if legislators approve the proposed Social Security Condonation Law of 2008. The bill filed by Quezon Rep. Lorenzo Tañada III seeks to grant a six-month period for employers to settle past dues of their workers. “The condonation would offer a reprieve to thousands of employers facing financial difficulties while enabling their workers to resume entitlement to benefits and loans," Mr. Tañada said. More than 500,000 employers nationwide are said to be negligent in remitting the mandatory SSS contribution of workers. Granting reprieve is no longer new to the SSS as Mr. Tañada cited it has implemented similar condonation programs on penalties for delinquent payments in housing and member loans, as approved by President Gloria Macapagal-Arroyo. “This enabled SSS to improve its loan collection and update its loan accounts," Mr. Tañada said. - GMANews.TV