6.05.2014

Can I Increase My Parents' SSS Contributions?

Here's a question posted under our blogpost SSS Contributions by Voluntary Members 

Question from The.Baroness:

I would like to ask about increasing the contributions of voluntary members. I am the one paying for my parents' contributions since they are already out of work. Their status are both voluntary members and currently contributing 330/mo each.

I would like to increase their contributions to 500/mo each. Can I do that?
If I can, what needs to be done?

Also, will this post any problem by the time they are going to file for their pension benefits? My father has 1 and a half year left to pay before he can apply for pension. Is increasing his monthly contribution going to be a problem? Thank you so much.

Answer:

Yes, you can increase your parents' contributions, but increase only by 1 or 2 levels at a time.
This June, pay 440, and then in July, start paying 550. After paying 550, you can increase to 660, if you like. Just pay; you don't need to ask for approval.

No, there will be no problem related to your parents' application for pension as long as you increase by only 1 or 2 levels at a time.  In case you want to increase some more and the contribution reaches 1,100, after this level, increase by 1 level only.

If you like, you can read about rules on increasing monthly contributions on the lower portion of the RS5 Contributions Payment form.



About Date of Coverage

By the way, have you registered your parents' SSS account online at sss.gov.ph?
Can you see online that they have a Date of Coverage? This date is important. If there's no Date of Coverage in their accounts, visit SSS with your parents' authorization letter and their IDs and your ID and ask SSS about this matter.

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