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.
2010 Web Site Edition
RS-5 Form -- Contributions Payment Return (06-2012)