Guide on SSS Contribution Rates 2024 for Self-Employed Members of the Social Security System
SSS CONTRIBUTION RATES 2024 – Here are the premiums that kasambahay members of the Social Security System must remit every month.
In the Philippines, a lot of people are working in households. They are called kasambahay in Filipinos’ term and they usually receive a monthly salary of not less than Php 4,000. Many of these household helpers are members of the Social Security System.
More popularly called SSS, the Social Security System is a social insurance giant in the country which has been in the service of millions of Filipinos for several years now. Its membership is composed of individuals coming from different walks of life and paying for their SSS contribution rates every month to maintain an updated account.
With regards to the monthly premiums of the kasambahays, the employer pays for a part of the SSS contribution rate of the household helper member. Here is a guide on the premiums set by the state-run social insurance entity for kasambahays:
SSS Salary Loan
The Social Security System’s SSS Salary Loan is a multi-purpose cash loan offer open for members who:
- have posted at least 36 monthly contributions in the SSS account
- have an updated account with regards to the payment of the monthly contributions
- 65 years old and below at the time of the loan application
- are currently employed, self-employed, or voluntary member of the SSS
- has not received any final benefit from the SSS
- has not been disqualified due to fraud committed against the SSS
Aside from the qualifications stated above, there are documentary requirements for SSS Cash Loan 2024 application.
SSS Housing Loan
For the purpose of financing minor and major house repairs and home improvements, the Social Security System offers the SSS Housing Loan. Here are the eligibility requirements for application:
- member must have posted at least 36 monthly contributions with 24 continuous contributions prior to the 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
- not been granted final SSS benefits
- borrower and spouse is updated in the payment of their other SSS loan(s)
To apply for the loan offer, you need to prepare and submit the SSS Housing Loan requirements to a branch of the state-run social insurance institution nearest to you.
SSS Calamity Loan
When a natural disaster struck a certain place leaving it in a state of calamity, the SSS members who are living or working in the calamity-stricken area may apply for a loan. Here are the qualifications:
- esident of an area declared under a State of Calamity
- with at least 36 monthly contributions posted to SSS, six (6) of which posted within the last 12 months before the month of the application for SSS Calamity Loan
- If self-employed, voluntary, or land-based overseas Filipino worker (OFW), member must have posted at least six (6) monthly contributions under the current coverage/membership type before the month of the application for SSS Calamity Loan
- has not availed final benefits from the SSS
- has no outstanding balance in the SSS Loan Restructuring Program (LRP) or CLAP
During such circumstances and you wish to apply for the offer, prepare the SSS Calamity Loan requirements and submit them to a branch of the Social Security System nearest to you.
Aside from the loans, there are SSS benefit offers for the members of the Social Security System. Here is a list of the benefits that a member may be qualified to avail:
- SSS Unemployment Benefit
- SSS Sickness Benefit
- SSS Disability Benefit
- SSS Maternity Benefit
- SSS Retirement Benefit
- SSS Death Benefit
