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    2021 Contribution Schedule

    Uploaded by

    Princess Mogul
    The document summarizes the new Social Security System (SSS) contribution schedule that will take effect in January 2021. The key points are: - Contribution rates and salary credit ceilings will increase, resulting in larger benefit amounts in the future. Employee contribution increases from 4% to 4.5% and employer increases from 8% to 8.5%. - The minimum salary credit increases from ₱2,000 to ₱3,000 and the maximum increases from ₱20,000 to ₱25,000. - Additional contributions above ₱20,000 will go towards the Workers' Investment and Savings Program (WISP) provident fund, providing

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    2021 Contribution Schedule

    Uploaded by

    Princess Mogul
    179 views14 pages
    The document summarizes the new Social Security System (SSS) contribution schedule that will take effect in January 2021. The key points are: - Contribution rates and salary credit ceilings will increase, resulting in larger benefit amounts in the future. Employee contribution increases from 4% to 4.5% and employer increases from 8% to 8.5%. - The minimum salary credit increases from ₱2,000 to ₱3,000 and the maximum increases from ₱20,000 to ₱25,000. - Additional contributions above ₱20,000 will go towards the Workers' Investment and Savings Program (WISP) provident fund, providing

    Original Title

    2021 Contribution Schedule (1)

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    The document summarizes the new Social Security System (SSS) contribution schedule that will take effect in January 2021. The key points are: - Contribution rates and salary credit ceilings will increase, resulting in larger benefit amounts in the future. Employee contribution increases from 4% to 4.5% and employer increases from 8% to 8.5%. - The minimum salary credit increases from ₱2,000 to ₱3,000 and the maximum increases from ₱20,000 to ₱25,000. - Additional contributions above ₱20,000 will go towards the Workers' Investment and Savings Program (WISP) provident fund, providing

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    179 views14 pages

    2021 Contribution Schedule

    Uploaded by

    Princess Mogul
    The document summarizes the new Social Security System (SSS) contribution schedule that will take effect in January 2021. The key points are: - Contribution rates and salary credit ceilings will increase, resulting in larger benefit amounts in the future. Employee contribution increases from 4% to 4.5% and employer increases from 8% to 8.5%. - The minimum salary credit increases from ₱2,000 to ₱3,000 and the maximum increases from ₱20,000 to ₱25,000. - Additional contributions above ₱20,000 will go towards the Workers' Investment and Savings Program (WISP) provident fund, providing

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    UA RY2 021

    JA N
    Effective

    CONTRIBUTION SCHEDULE
    FOR REGULAR SOCIAL SECURITY,
    EMPLOYEES’ COMPENSATION,
    AND PROVIDENT FUND
    for Regular Employers & Employees,
    Self-Employed, OFWs,
    Voluntary & Non-Working Spouse Members
    and Household Employers & Kasambahay

    As mandated under Republic Act No. 11199 or the


    Social Security Act of 2018, and detailed under
    SSS Circular Numbers 2020-033-b, 2020-034-b, 2020-035-b,
    2020-036 and 2020-039 as of 22 December 2020.

    SSSPh PHLSSS MYSSSPH MySSSPhilippines MYSSSPH Updates


    The 2021 Contribution Rate, Minimum and
    Maximum Monthly Salary Credits (MSC)

    Covers a larger percentage of members’


    monthly incomes.

    Ensures larger benefit amounts and/or pension


    savings in the future.

    Contribution Rate
    Employee Share Employer Share Total

    2020 Rate 4.0% 8.0% 12.0%


    2021 Rate 4.5% 8.5% 13.0%

    Minimum and Maximum MSC


    Minimum Maximum

    2020 MSC ₱ 2,000 ₱ 20,000


    2021 MSC ₱ 3,000 ₱ 25,000

    SSSPh PHLSSS MYSSSPH MySSSPhilippines MYSSSPH Updates


    SIGNIFICANT FEATURES OF THE
    2021 CONTRIBUTION SCHEDULE
    For those contributing at an MSC of
    1 ₱20,000 and below:
    Additional monthly amount ranges
    from ₱10 to ₱100 only for combined
    employee and employer shares.

    For self-employed and


    2 voluntary members:
    Additional monthly contributions range
    from ₱30 to ₱200 only.

    For those contributing at an MSC above


    3 ₱20,000 to the maximum ₱25,000 :
    Additional monthly contributions
    ranging from ₱265 to ₱850, will all go
    to the member’s WISP account
    (Provident Fund)

    SSSPh PHLSSS MYSSSPH MySSSPhilippines MYSSSPH Updates


    Contributions starting at MSC above
    ₱20,000 shall go to the
    SSS Provident Fund called

    WORKERS’ INVESTMENT
    AND SAVINGS PROGRAM (WISP)
    WISP contributions are shared by
    the employee and employer.

    Self-Employed, Voluntary and OFW-members


    shoulder WISP contributions on their own.

    WISP benefits include total disability, death,


    and retirement pensions ON TOP of these
    benefits under the regular SSS program.

    SSSPh PHLSSS MYSSSPH MySSSPhilippines MYSSSPH Updates


    IMPACT OF 2021 CONTRIBUTION RATE ON
    REGULAR SS PROGRAM AND WISP
    EMPLOYED
    OLD CONTRIBUTION RATE NEW CONTRIBUTION RATE DIFFERENCE
    MSC REGULAR REGULAR REGULAR
    TOTAL WISP TOTAL TOTAL
    PROGRAM PROGRAM PROGRAM

    ER 250 265 15
    3,000 370 400 30
    EE 120 135 15
    ER 810 860 50
    10,000 1,210 1,310 100
    EE 400 450 50
    ER 1,630 1,730 100
    20,000 2,430 2,630 200
    EE 800 900 100
    ER 1,630* 1,730 425 525
    25,000 2,430* 3,280 850
    EE 800* 900 225 325

    For employers and employees contributing at the maximum


    MSC of ₱25,000, the additional amount for the
    monthly SSS contribution will increase by ₱850, with
    ₱325 coming from EE, and ₱525 from the ER

    SSSPh PHLSSS MYSSSPH MySSSPhilippines MYSSSPH Updates


    IMPACT OF 2021 CONTRIBUTION RATE ON
    REGULAR SS PROGRAM AND WISP

    SELF-EMPLOYED
    OLD CONTRIBUTION RATE NEW CONTRIBUTION RATE DIFFERENCE
    MSC REGULAR REGULAR REGULAR
    TOTAL WISP TOTAL TOTAL
    PROGRAM PROGRAM PROGRAM

    3,000 SE 370 370 400 400 30 30


    10,000 SE 1,210 1,210 1,310 1,310 100 100
    20,000 SE 2,430 2,430 2,630 2,630 200 200
    25,000 SE 2,430* 2,430* 2,630 650 3,280 850 850

    For SE contributing at the maximum MSC of ₱25,000,


    the additional amount for the monthly SSS contribution
    is also ₱850, or about ₱29 per day.

    SSSPh PHLSSS MYSSSPH MySSSPhilippines MYSSSPH Updates


    IMPACT OF 2021 CONTRIBUTION RATE ON
    REGULAR SS PROGRAM AND WISP

    VOLUNTARY AND NON-WORKING SPOUSE


    OLD CONTRIBUTION RATE NEW CONTRIBUTION RATE DIFFERENCE
    MSC REGULAR REGULAR REGULAR
    TOTAL WISP TOTAL TOTAL
    PROGRAM PROGRAM PROGRAM

    3,000 VM 360 360 390 390 30 30


    10,000 VM 1,200 1,200 1,300 1,300 100 100
    20,000 VM 2,400 2,400 2,600 2,600 200 200
    25,000 VM 2,400* 2,400* 2,600 650 3,250 850 850

    For VM/NWS contributing at an MSC of ₱20,000 and below,


    the additional amount ranges from ₱30 to ₱200 per month .

    SSSPh PHLSSS MYSSSPH MySSSPhilippines MYSSSPH Updates


    SSS CONTRIBUTION SCHEDULE
    Effective January 2021

    REGULAR EMPLOYERS AND EMPLOYEES


    (8.5% for Employers and 4.5% for Employees)

    SSSPh PHLSSS MYSSSPH MySSSPhilippines MYSSSPH Updates


    SSS CONTRIBUTION SCHEDULE
    Effective January 2021

    SELF-EMPLOYED MEMBERS

    SSSPh PHLSSS MYSSSPH MySSSPhilippines MYSSSPH Updates


    SSS CONTRIBUTION SCHEDULE
    Effective January 2021

    VOLUNTARY MEMBERS AND NON-WORKING SPOUSE

    SSSPh PHLSSS MYSSSPH MySSSPhilippines MYSSSPH Updates


    SSS CONTRIBUTION SCHEDULE
    Effective January 2021

    HOUSEHOLD EMPLOYERS AND KASAMBAHAY

    SSSPh PHLSSS MYSSSPH MySSSPhilippines MYSSSPH Updates


    SSS CONTRIBUTION SCHEDULE
    Effective January 2021

    OVERSEAS FILIPINO WORKERS

    SSSPh PHLSSS MYSSSPH MySSSPhilippines MYSSSPH Updates


    DEADLINE OF PAYMENT
    OF CONTRIBUTIONS
    TYPE OF PAYOR DEADLINE

    Regular Employers last day of the month following the


    applicable month

    Household Employers last day of the month following the


    applicable month or calendar quarter

    Self-employed, Voluntary and last day of the month following the


    Non-Working Spouse Members applicable month or calendar quarter

    OFW-members January to September – until December 31


    of the applicable year
    October to December – until January 31
    of the following year

    SSSPh PHLSSS MYSSSPH MySSSPhilippines MYSSSPH Updates


    THREE (3) WAYS TO GET
    PAYMENT REFERENCE NUMBER (PRN)
    FOR CONTRIBUTIONS

    Visit the SSS website at www.sss.gov.ph


    and register to My.SSS to generate PRN
    1 online. You may also use your My.SSS login
    details at the SSS Mobile App and generate
    PRN using the app.

    Inquire on PRN thru Text SSS. Just type SSS


    2 PRN <10-digit SS number> <PIN> <Date of
    Birth> and send to 2600 (₱2.50 per text for
    Globe, Smart and Sun subscribers).

    3 Request via email at prnhelpline@sss.gov.ph

    SSSPh PHLSSS MYSSSPH MySSSPhilippines MYSSSPH Updates

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