Saturday, March 9, 2013

Can I Change the Amount of My SSS Contributions Monthly?

Can Voluntary, Self-Employed or OFW members change their SSS contributions monthly?

Yes. If you are a Self-employed, Voluntary or OFW member, you can increase or decrease your SSS contribution every month by 1 or 2 brackets at a time.

If you like to increase or decrease by 3 brackets or more, you must make sure that your actual income justifies a big and immediate increase or decrease in your monthly contributions because you will be required to fill up and sign the Declaration of Earnings portion of the RS-5 form. This declaration says:

"I hereby  declare, for purposes of Sec.19-A of the Social Security Law, the amount of __________ as my monthly earnings, which shall be the basis of my monthly selary credit to be effective until I revised in my next declaration.
I affirm under the penalties of perjury,that this declaration has been made in good faith, and to the best of my knowledge and belief, is true and correct."


Take note of the penalties of perjury.

You also sign this portion if you decrease your contribution and go below the 5,000 salary bracket.

Another restriction:  If you are 55 years old or older and your current monthly salary credit is already more than 10,000 pesos, you can increase by only one salary bracket at a time, even if your actual earnings increase by more than 2 salary credits over the month.


Sources:
SSS Guidebook
2010 Web Site Edition

RS-5 Form -- Contributions Payment Return (06-2012)

22 comments:

Kaydee said...

Hi Retch, yes, you're right, you can, but you must fill up the Declaration of Earnings portion in the lower potion of the RS-5 form. It's there written in my post.

I mentioned ACTUAL earnings because the Declaration has this portion: "I affirm under the penalties of perjury,that this declaration has been made in good faith, and to the best of my knowledge and belief, is true and correct."

Thanks for commenting.

Retch Serrano said...

Hello Again and Thanks so much!

Another question, pag self-employed ba at meron small business, ang basis ba ng monthly salary credit eh un Gross Sales or un Taxable Income? Thanks!

Kaydee said...

Hi Retch, I think that the basis should be the net income (the total income before taxable income). Actually, SSS says that it depends on how much the self-employed person declares as his net income. Here's Section 19A of the SSS Law: The monthly earnings declared by the self-employed member at the time of his registration with the SSS shall be considered as his monthly compensation and he shall pay both the employer and employee contributions ...

The amount will change when "he makes another declaration of his monthly
earnings."

Retch Serrano said...

Big help! Thanks so much Kaydee! :)

Kaydee said...

Hi ZOOM, yes, your pension will be higher than those paying lower contributions, and those that pay only for a few years. The pension will depend on your average monthly salary credit for the entire time you paid SSS, your average salary credit for the last 5 years before semester of retirement, and the number of years you contributed to SSS.
By the way, meron lang pension if a member has contributed at least 120 contributions.

ZOOM BASTO said...

thank you so much for the info kaydee

kym said...

Hi!I have paid my SSS yesterday for 312 a month.Oct to Dec 2013 na ung paid.Can I still have that changed?I want to add more kasi I heard na un ung basis ng benefits..Madadagdahan ko pa kaya ung oct t dec na nabayaran ko na?thanks

Kaydee said...

Hi kym, it's more likely na na-remit na yong payment mo, so malamang hindi mo na mahabol. Mag-increase ka na lang starting Jan 2014 (new premium amounts na). Puede kang mag-increase by 2 brackets every month hanggang ma-reach mo yong gusto mo na bracket. Kung gusto mong mag-increase by more than 2 brackets, declare your income in the lower portion of the RS5 form.

Xin Zhia King said...

Hi Ms Kaydee, my husband is a voluntary member. He continues to pay his monthly contribution from the small income from school bus service and allowance from our children. He has increased his monthly contributions more than 3 brackets but has not indicated any income in the Declaration of Earnings section of the form. He said that he was advised by an SSS employee to just leave that section blank (this happened long time ago). Is he going to be penalized for not declaring his earnings? What are the implications? Would appreciate your clarification and advice to rectify the error. Thank you.

Kaydee said...

Hi Xin, I think that in the future, SSS will no longer ask your husband to present that RS5 form with Declaration of Earnings, since he maintained his contributions at that level for many months/years. Based on my readings, nag-que-question lang ang SSS kapag obvious na obvious na taking advantage ang member, halimbawa, nag-start ng minimum, and then matagal na tumigil, then biglang mag-contribute ng maximum for 6 months only para lang ma-maximize ang maternity benefit.
I think what is important is he has a Date of Coverage. Curious lang ako kasi sabi mo Voluntary siya. Was he an employed member before? Register online at sss.gov.ph and then check if he has a Date of Coverage. This date is important; it means that he started/registered with SSS properly.

Xin Zhia King said...

Hi Kaydee, thank you for your quick response. My husband was employed before. I have registered him online and confirmed that he has a Date of Coverage. Ang nangyari kasi, in 1994 he converted to voluntary and contributed 105 monthly only until end-1995. Then nag-stop for so many years and resumed in July 2012 and increased his contribution to 1,560 (without proper consultation with SSS). My worry is, baka masayang ang contributions nya kasi wala proper declaration of earnings. We're already in the mid-50s, and he's hoping na meron sya pension sa pagtanda. Again, thank you for finding the time to respond to our questions. God bless you always!

mahal said...

Hi I was paying 330 for my monthly voluntary sss contribution for the last 4 months through my bank online.Now that I am in the US I would like to increase my monthly voluntary payment is that okay?

Shy said...

Hi mahal, yes, you can. 440 in May, 550 in June, 660 in July, and so on. I hope you've registered online at sss.gov.ph so you can track your payments. Great that you're with a bank that allows online payment to SSS.

JK said...

Jenny M: Just wanna ask how to revive my SSS. I was employed last 2009, but my contributions stopped when I resigned in 2010. I am working as a freelancer in sales and want to continue paying my contributions. Please help. thank you so much

Hi Jenny, you can continue paying immediately. Just decide the amount and pay. For your first payment, pay at SSS using RS5 form, so you can use the transaction no. when registering at sss.gov.ph later on. You can see your SSS records online if you register. If the difference between your last contribution and your new contribution is big (3 or more brackets), fill up the Declaration of Earnings in the RS5 form. Keep this form in your file. For your next payments, you can pay at Bayad Center or SM Business center.

JK said...

Nilda Puno Hello my aunt paid 1,040 for her SSS contributions for the 2nd quarter of 2012, and then increased it to 1,560 for the 3rd quarter, and have been paying the same amount ever since. Will there be a problem when she claims her pension later on? Her age is now 52.

Hi Nilda, the premiums have changed, since Jan 2014. This is the new SSS contributions table. Your aunt needs to pay additional amount if there were underpayments since Jan.
About the increase from 1040 to 1560, that's a big jump. But since she has been paying 1560 ever since, I think that consistency will prove that her income has really increased correspondingly, so it won't be a problem later on.
Is she registered at sss.gov.ph? So she can check her contributions and if she has a Date of Coverage.

jeanvey Bato-ampo said...

Hi. Is it possible to change my monthly contribution which is i pay 880 a month..i want to decrease it base on my salary now?

jeanvey Bato-ampo said...

Pls i need help here...can anyone answer me?thank you

JK said...

Hi jeanvey, yes, you can decrease your contributions. You can decrease to 770 pesos. If you decrease to lower than 770, you need to fill up the Declaration of Earnings at the lower portion of RS5 form.

Vinz said...

Hi. I want to decrease my contributions by 2 brackets. Will i need to fill up a form to change my monthly contribution?

JK said...

Hi Vinz, if the decrease is only by 2 brackets, you don't need to. Just pay your decreased contributions.

niou baluyot said...

I think this is out of topic, but is it possible to pay contributions for past months? For example I would like to pay my contributions the last few months today.Thank you in advance.

JK said...

Hi niou, if you pay quarterly, yes. For example, this Sep, you can still pay for July to Sep. But you can no longer pay June backwards. In October, you can still pay for July to Sep, depending on the last digit of your SSS no., but you have to pay at the SSS branch. Here are
SSS payment deadlines.