Details about the SSS Monthly Contribution 2024 for Locally-Employed Members & the Employers’ Share
SSS MONTHLY CONTRIBUTION 2024 – You can check the table below for the monthly contributions set for locally-employed members of the Social Security System and the employers.
One of the giant social insurance institutions in the Philippines is the Social Security System. More popularly called SSS, it is a state-run social insurance institution with millions of members that are mostly locally-employed individuals in the private sector.
Aside from locally-employed individuals in the private sector, the Social Security System has also opened its membership for self-employed individuals as well as overseas Filipino workers. There is also a voluntary membership.
The members must submit a monthly contribution to maintain an active and updated account to the state-run social insurance agency. The premium depends on the rate set by the state-run social insurance institution which change from time to time.
Among the SSS member populace, one of the biggest chunk is composed of locally-employed individuals in the private sector. With regards to the contributions of this people for several years now including the SSS Monthly Contribution 2024, the employer has a share.
Here is a table of the SSS Monthly Contribution 2024 for locally-employed members of the state-run social insurance institution and their employers’ share:
Members who regularly post monthly contributions may qualify to the loans and benefits offered by the Social Security System. In every loan offer, part of the qualifications for application is about the monthly contributions or premiums posted.
This is a multi-purpose cash loan offer of the Social Security System. Here are the eligibility requirements for application:
- has posted at least 36 monthly contributions in the SSS account
- updated in the payment of the SSS contributions
- 65 years old and below at the time of the loan application
- currently employed, self-employed, or voluntary member of the Social Security System
- has not received any final benefit from the SSS
- has not been disqualified due to fraud committed against the SSS
The state-run social insurance agency also offers a Housing Loan for the purpose house repair or home improvement. Here are the qualifications for application:
- a member of SSS who has at least 36 months contributions with 24 continuous contributions in the period prior to application
- not more than 60 years old at the time of application
- not previously granted a repair and/or improvement loan by the SSS or NHMFC
- has not been granted final SSS benefits
- updated in the payment of their other SSS loan(s), if any
In times of natural disaster, the SSS members who are living in areas left under a State of Calamity may apply for a Calamity Loan offer to the state-run social insurance institution. Here is a set of the eligibility criteria in applying for the loan offer:
- residing in an area declared under a State of Calamity by the National Disaster Risk Reduction and Management Council (NDRRMC)
- registered on the My.SSS portal
- has posted at least 36 monthly contributions
- has not availed of final benefits
- has no outstanding balance in CLAP or the SSS Loan Restructuring Program (LRP)