Restarting Your SSS Contributions: A Comprehensive Guide for Members
If you haven’t paid your SSS contributions for a few years and are looking to start again, you’re not alone. Many individuals find themselves in similar situations, whether due to changes in employment status or personal circumstances. In this article, we will tell you how to restart contributions and what amount you should choose.
Why Resume Contributions?
Resuming your SSS contributions is crucial for maintaining your eligibility for benefits. Whether you are self-employed, a voluntary member, or transitioning back into employment, keeping your contributions up-to-date ensures that you can access the financial support provided by SSS when needed.
Private Grounds for Terminating SSS Contributions
| Reason | Description |
|---|---|
| Change in Employment Status | Members may stop contributions after resigning or losing their jobs, impacting their eligibility for benefits. |
| Financial Constraints | Economic difficulties can lead individuals to prioritize immediate needs over social security contributions. |
| Health Issues | Personal or family health challenges may require financial resources to be allocated elsewhere, resulting in halted contributions. |
| Retirement | Members may choose to stop contributing upon reaching retirement age, especially if they feel they have sufficient benefits accumulated. |
| Lack of Awareness | Some members may not fully understand the importance of maintaining contributions or how to resume payments after a break. |
| Migration | Overseas Filipino Workers (OFWs) returning home may find it challenging to continue contributions if they do not secure immediate employment. |
| Personal Decisions | Life changes such as marriage, childbirth, or other commitments can influence an individual’s decision to pause contributions. |
How to Start Paying SSS Contributions Again
Step 1: Verify Your Membership Status
Before resuming payments, check your membership status with SSS. You can do this by visiting the nearest SSS branch or accessing your account through the My.SSS portal. Ensure that your personal information is up-to-date.
Step 2: Choose Your Monthly Salary Credit (MSC)
As a voluntary member, you can select an MSC that suits your financial situation. The MSC ranges from ₱4,000 to ₱30,000 as of 2024. Here’s how to determine what MSC is right for you:
- Minimum MSC: If you want to maintain basic coverage and benefits, choose the minimum MSC of ₱4,000.
- Maximum MSC: If you aim to maximize your benefits (such as maternity or retirement), consider opting for an MSC closer to ₱30,000.
Example of Choosing an MSC
Let’s say you are currently earning ₱25,000 per month but have plans to start a family in the next year. Here’s how you might evaluate your options:
- Future Financial Goals: You want to ensure that you have sufficient maternity benefits when the time comes. To qualify for maximum maternity benefits of ₱70,000, you need to choose an MSC of at least ₱20,000.
- Desired Benefits: By choosing an MSC of ₱20,000, your monthly contribution would be approximately ₱2,800 (14% of ₱20,000). This amount is feasible within your budget and will provide significant maternity benefits when needed.
- Health and Family Planning: Since you plan to have children soon, securing higher benefits now will help cover medical expenses related to childbirth.
Step 3: Calculate Your Monthly Contribution
The total contribution rate for SSS is currently 14% of your chosen MSC. As a voluntary member, you will pay the entire amount since there is no employer contribution involved.
Step 4: Make Your Payments
You can make payments through various channels:
- Online Payment: Use the My.SSS portal or mobile app.
- Bank Payment: Pay at accredited banks.
- Payment Centers: Use authorized payment centers like Bayad Center or Cebuana Lhuillier.
Ensure that payments are made before the deadline (usually the last day of the month following the applicable period) to avoid penalties and ensure continuous coverage.
Common Questions About Resuming Contributions
- Can I resume my contributions if I have gaps in my payment history?
Yes, you can resume contributions even if there are gaps. However, you cannot make retroactive payments for the months you missed. Contributions can only be made prospectively. - How do I change my membership status to voluntary?
You can change your status to voluntary by generating a Payment Reference Number (PRN) through the My.SSS portal or mobile app and selecting “Voluntary Member” as your membership type. - Will resuming contributions affect my eligibility for benefits?
Yes, resuming contributions is essential for maintaining eligibility for various benefits such as maternity allowances, retirement pensions, and sickness benefits. - How often should I pay my contributions?
It is advisable to pay your contributions monthly to ensure continuous coverage and avoid gaps that could affect your benefits. - Can I withdraw my contributions if I stop paying again?
No, SSS contributions cannot be withdrawn like Pag-IBIG contributions. You can only claim benefits or pensions upon reaching retirement age or under specific qualifying conditions.
Restarting Your SSS Contributions: Final Thoughts
Resuming your SSS contributions is a vital step toward securing your financial future and accessing essential benefits. By understanding how to choose your MSC and calculate your contributions effectively, you can ensure that you remain covered under the SSS system. Whether you’re preparing for retirement or planning for maternity leave, staying consistent with your contributions will provide peace of mind and financial security.
If you have any further questions or need assistance with specific scenarios related to SSS contributions, don’t hesitate to reach out directly to SSS or consult their official website for more information.