If you’re a regular employee, you’ve probably wondered about those SSS deductions marked on your payslip every month. What are SSS contributions for exactly? And how do you check your SSS contribution online? Read on to find out.
What are your SSS contributions for?
If you don’t know what your Social Security System (SSS) contributions are for, you’re probably not pleased to see that sum deducted from your payslips every month. But these contributions — which are required by law — can benefit you in the long run. If you make regular contributions, you can apply for benefits in case of sickness, maternity, retirement, disability, death, and unemployment. You could even apply for cash loans!
So even though SSS contributions can be inconvenient, just consider it a way to build a cushion for yourself in the future.
How are SSS contributions calculated?
Currently, the SSS contribution rate is 13% of your monthly salary not exceeding P25,000. This amounts split between the employer (8.5%) and the employee (4.5%)
This table shows how the SSS determines the amount that should be deducted from an employee.
First, you’ll need to register on My.SSS
To check your balance online, you’ll first need to register on the SSS online portal, My.SSS. You can access the registration form via this link.
When registering, you’ll need to provide your CRN number (which can be found on your UMID) or your SS number (if you’ve lost or forgotten your SS number, you can ask your HR department or email SSS at email@example.com with your complete name, date of birth, address, contact number, and a photo of a valid ID.
What if you don’t have a CRN/SS number?
If you don’t have a CRN/SS number, this means you aren’t an SSS member yet. Fortunately, you can apply as a member online by applying for a UMID.