GOVERNMENT-OWNED Social Security System (SSS)-Cagayan de Oro branch reportedly increased its collections by 4.14 percent from January to April 2010 compared last year.
Lawyer Edwin M. Alo, SSS branch head, reported that collections this year reached P313.9 million, up from last year’s collection of P301.4 million.
“The collection speaks that there are more members coming in and a good sign that citizens are giving importance to their future,” Alo said.
He said new members also increased this year, now totaled 299,317 or .544 percent more than last year.
Overseas Filipino workers (OFWs) who signed up for SSS also increased this year by 2.72 percent to 1,092.
Meanwhile, Alo is calling on SSSS members who engage in small and medium business enterprises to avail of the condonation of penalties from February 1 to July 31.
“The grant of amnesty for the penalties would redound to the benefit of the hundreds of thousands of workers whose employers have not been paying their contributions to SSS, using the same for other corporate financial requirements,” Alo said.
He explained that under the SSS Condonation Law, delinquent employers may remit their contributions or submit proposal to do the same on installment basis.
Under the premium payment schedule, the employer is required to remit a total of five percent of contribution delinquency where the balance shall be paid in equal monthly installments within 48 months from the time the SSS approves the submitted proposal.
The installment payment, however, shall bear a three percent annual interest.
The condonation of penalties shall likewise apply to those who were able to settle their arrears prior to the implementation of the SSS Condonation Law.
Alo said the law also provides that pending case against erring employers will be withdrawn but without prejudice to the refilling of the same in case the employer fails to remit in whole.
article by Nicole J. Managbanag