OCT 29, 2015

NR # 4002

Bill condones SSS delinquent contributions

Rep. Evelina G. Escudero (1st District, Sorsogon) has filed a bill condoning the
penalties on delinquent contributions to the Social Security System (SSS).
In House Bill 6104, Escudero also asked Congress to determine the monthly salary
credits, rate of contributions and penalty and unpaid loan amortization by SSS members.
Escudero said the bill grants the SSS the flexibility and prerogative to enhance
collection of contributions especially the delinquent ones.
The bill is in consonant with the demands of a viable social security system given
the changes brought about by social, economic and other pertinent indicators, Escudero
said.
The bill seeks to amend Republic Act 1161 creating the Social Security Law.
Under the bill, the commission shall also determine the minimum and maximum
monthly salary credits, the schedule and the rate of contributions, the rate of penalty on
due but unremitted contributions and unpaid loan amortizations.
The commission shall submit to both the Senate and the House of Representatives,
an annual report on the exercise of the powers under this measure.
The report shall include the names and addresses of employers whose penalty
delinquencies have been the subject of compromise or condonations.
Likewise, the report shall include the amount involved, amount compromise or
condoned and the reasons for the exercise of power to determine that powers are
reasonably exercise and that the SSS is not unduly deprived of revenues.
The rate of the penalty on delinquent contributions per month shall be determined
and fixed by the commission through rules and regulations. (30) maprs