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Tax Notes

New payment deadlines for SSS contributions starting September 2018

IN RESPONSE to the timely processing of claims to ensure members and beneficiaries receive their benefits and loan proceeds, the Social Security System (SSS) launched the real time processing of contributions program (RTCP), where contributions and loan repayments are posted within 24 hours from the time of payment.

In line with the RTCP, SSS Circular 2018-022 was issued to inform all employers and individual members of the new payment deadlines for contributions as follows:

 

If the 10th digit of the 13-digit ER nunmber ends in:

Regular employers

Household employers, self-employed, and Voluntary members (except OFWs)

Previous deadline (following the applicable month)

New deadline for July to December 2018

Previous deadline (following the applicable month)

New deadline

 

1 or 2

10th day of the month

End of the month following the applicable month

10th day of the month

January to December 2018 contributions may be paid within the year; and

October to December 2018 contributions may also be paid on or before the 31st of January of the succeeding year

 

3 or 4

15th day of the month

15th day of the month

 

5 or 6

20th day of the month

20th day of the month

 

7 or 8

25th day of the month

25th day of the month

 

9 or 0

Last day of the month

Last day of the month

 


The new payment deadlines take effect starting September contributions for filing in October.

SSS advised that necessary enhancements will be applied to the system to align it with the revised payment deadlines, which means the affected transaction payments may be made over-the-counter for members who are not required to use the payment reference number (PRN).

Please be guided accordingly.

As Published by Sun Star Cebu dated 23 October 2018