Archive for March, 2018


Mar 27

On Monday, April 2, 2018, the Social Security System (SSS) will once again open its doors to members who with unpaid obligations with the agency.  This is another opportunity that the state-run pension  fund is extending to members to allow them to settle overdue loans and regain their good standing with the SSS to avoid problems with their claims later on.

Who can benefit from this offer?

The SSS will condone penalties of member borrowers, making special mention of those who were affected by the Marawi siege and Mayon Volcano eruption.

How will members benefit from the program?

Members with delinquent accounts will not have the opportunity to settle their overdue loan principal and interests – in full payment or through installment basis – with respect to the SSS’ terms, depending on the member’s capacity to pay.

Whether the member is paying in full or through installment basis, the SSS will waive the loan penalties after the member has completed payment for the restructured loan.

Below is a summary of the program’s provisions, for reference:

  • Past due payments for the following loans:
    • Salary loan
    • Emergency loan
    • Old educational loan
    • Study Now, Pay Later Plan
    • Voc-tech loans,
    • Y2K loans,
    • Investments Incentive Loan
    • Other loans that were past due for at least six months as of April 2, 2018.
  • An interest rate of 3% will be implemented for restructured loans.
  • Penalties will be condoned upon full payment, with option to renew the loan after six months.
  • Members will be back to “good standing” with the SSS, be able to apply for new loans, and be assured of fully enjoying their final benefit claims in the future.
  • Members who were granted condonation in the last loan restructuring program of the SSS will no longer be accommodated.

Visit the nearest SSS branch office in your area now to know more about this offer.  The SSS Loan Restructuring Program will be available until October 1, 2018.

Reference: www.sss.gov.ph

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Mar 22 (1)

Almost 200 universities and colleges will be implementing the Free Tuition Fee law starting this school year; parents and students are eagerly looking forward to an expense-free education because even miscellaneous payments are covered by the act.  The government has allotted a P40-billion fund for the first year of the law’s implementation to cover the tuition fee requirements of hundreds of thousands of Filipino students.

What are the important facts that we all need to know about this new law?  Who are qualified to enjoy this privilege?

Here are the five important things we all need to know about the Universal Access to Quality Tertiary Education Act:

  1. The free tuition fee applies only to required classes for the semester. This means that a student’s tuition will be free for as long as the subjects he enrolled in are part of the curriculum and are required for him to finish his degree. Reviews, remedial, and enhancement classes are not covered.
  2. The definition of “miscellaneous”. Apart from tuition fee, the law also covers payments for miscellaneous requirements such as the use of libraries, laboratories, computer rooms, IDs, use of gyms and sports clinics, guidance counseling, medical and dental services, and other related activities.
  3. Schools must have programs for students from minority groups. The law covers even, and most especially, disadvantaged students and schools are mandated to craft programs to make it easier for them to avail of the free tuition law. Lumads, Muslims, indigenous peoples, persons with disabilities, and students from public high schools and depressed areas are all included in the free tuition fee program and must be accommodated by the said participating schools.
  4. Opt-out Mechanism. Upon enrollment, a student may decide if he will avail of the free tuition fee program or voluntarily bow out of the offer. This is expected of students who have the financial capacity to shoulder his tuition and miscellaneous expenses.  He will be required to submit a notarized waiver and will then be considered as a paying student for that particular semester.  They have the chance to change their decision in the next semesters.
  5. Student Loan Program. Under the Free Tuition Fee Law, students will be given the privilege of an education loan. This shall be implemented in partnership with banks and similar financial institutions and will be discussed in detail in the IRR.

Stay tuned for more updates as the CHED discloses more information on this news.  The IRR is expected to be released on Monday, March 26, 2018.

Reference: http://www.ched.gov.ph

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Mar 19

There are a total of 112 state universities and colleges and about 78 local universities and colleges that are covered by the free tuition fee law signed by the President last week.  We are sharing the list of schools that are expected to comply with the free tuition fee law beginning June 2018.

National Capital Region

  • Eulogio ‘Amang’ Rodriguez Institute of Science and Technology
  • Marikina Polytechnic College
  • Philippine Normal University
  • Philippine State College of Aeronautics
  • Polytechnic University of the Philippines
  • Rizal Technological University
  • Technological University of the Philippines
  • University of the Philippines System
  • Pamantasan ng Lungsod ng Maynila
  • Pamantasan ng Lungsod ng Muntinlupa

Region I – Ilocos Region

  • Don Mariano Marcos Memorial State University
  • Ilocos Sur Polytechnic State College
  • Mariano Marcos State University
  • North Luzon Philippines State College
  • Pangasinan State University
  • University of Northern Philippines
  • Ilocos Sur Community College
  • University of Eastern Pangasinan
  • Binalatongan Community College
  • Urdaneta City University

Cordillera Administrative Region

  • Abra State Institute of Science and Technology
  • Apayao State College
  • Benguet State University
  • Ifugao State University
  • Kalinga State University
  • Mountain Province State University

Region II – Cagayan Valley

  • Batanes State College
  • Cagayan State University
  • Isabela State University
  • Nueva Vizcaya State University
  • Quirino State University

Region III – Central Luzon

  • Aurora State College of Technology
  • Bataan Peninsula State University
  • Bulacan Agricultural State College
  • Bulacan State University
  • Central Luzon State University
  • Don Honorio Ventura Technological State University
  • Nueva Ecija University of Science and Technology
  • Pampanga State Agricultural University
  • Philippine Merchant Marine Academy
  • Ramon Magsaysay Technological University
  • Tarlac College of Agriculture
  • Tarlac State University
  • Mabalacat College
  • Baliuag Polytechnic College
  • Bulacan Polytechnic College
  • City College of Angeles
  • City College of San Fernando, Pampanga
  • Eduardo L. Joson Memorial College
  • Guagua Community College
  • Kolehiyo ng Guiguinto
  • Kolehiyo ng Subic
  • Limay Polytechnic College
  • Norzagaray College
  • Pambayang Dalubhasaan ng Marilao
  • Polytechnic College of Botolan
  • Polytechnic College of the City of Meycauayan

 Region IV-A – CALABARZON

  • Batangas State University
  • Cavite State University
  • Laguna State Polytechnic University (Laguna State Polytechnic College)
  • Sourthern Luzon State University
  • University of Rizal System
  • Balian Community College
  • City College of Calamba
  • Colegio de Montalban
  • Colegio ng Lungsod ng Batanga
  • Dalubhasaan ng Lungsod ng Batangas
  • Dalubhasaan ng Lungsod ng Lucena
  • Kolehiyo ng Lungsod ng Lipa
  • Laguna University
  • Pambayang Kolehiyo ng Mauban
  • San Mateo Municipal College
  • Trece Martires City College
  • Antipolo Institute of Technology (AiTech)
  • Tanauan City College (TCC)
  • Pamantasan ng Cabuyao (PNC)
  • Dalughasaan ng Lungsod ng San Pablo
  • City College of Tagaytay (CCT)

Region IV-B – MIMAROPA

  • Marinduque State College
  • Mindoro State College of Agriculture and Technology
  • Occidental Mindoro State College
  • Palawan State University
  • Romblon State University
  • Western Philippines University
  • Baco Community College
  • MIMAROPA City College of Calapan

Region V – Bicol Region

  • Bicol University
  • Bicol State College of Applied Sciences and Technology
  • Camarines Norte State College
  • Camarines Sur Polytechnic Colleges
  • Catanduanes State University
  • Central Bicol State University of Agriculture
  • Emilio B. Espinosa, Sr. Memorial State College of Agriculture and Technology
  • Partido State University
  • Sorsogon State College
  • Community College of Manito
  • Ligao Community College
  • Baao Community College
  • Calabanga Community College
  • Caramoan Community College
  • City College of Naga
  • Daraga Community College
  • Libon Community College
  • Oas Community College
  • Polangui Community College
  • Rapu-Rapu Community College
  • San Jose Community College
  • Sorsogon Community College
  • Donsol Community College (DCC)
  • San Pascual Polytechnic College (SPPC)
  • Aroroy Municipal College (AMC)
  • Governor Mariano E. Villafuerte Community Colleges

Region VI – Western Visayas

  • Aklan State University
  • Capiz State University
  • Carlos C. Hilado Memorial State College
  • Guimaras State College
  • Iloilo State College of Fisheries
  • Central Philippines State University
  • Northern Iloilo Polytechnic State College
  • Northern Negros State College of Science and Technology
  • University of Antique
  • Iloilo Science and Technology University
  • West Visayas State University
  • Iloilo City Community College (ICCC)
  • Passi City College
  • Libacao College of Science and Technology
  • Bago City College

Region VII – Central Visayas

  • Bohol Island State University
  • Cebu Normal University
  • Cebu Technological University
  • Negros Oriental State University
  • Siquijor State College
  • Buenavista Community College
  • Carcar City College
  • Sibonga Community College
  • Trinidad Municipal College

Region VIII – Eastern Visayas

  • Eastern Samar State University
  • Eastern Visayas State University
  • Leyte Normal University
  • Naval State University
  • Northwest Samar State University
  • Palompom Polytechnic State University
  • Samar State University
  • Southern Leyte State University
  • University of Eastern Philippines
  • Visayas State University
  • Maasin City College

Region IX – Zamboanga Peninsula

  • H. Cerilles State College
  • Jose Rizal Memorial State University
  • Western Mindanao State University
  • Zamboanga City State Polytechnic College
  • Zamboanga State College of Marine Sciences and Technology
  • Zamboanga del Sur Provincial Government College (ZdSPGC)

Region X – Northern Mindanao

  • Bukidnon State University
  • Camiguin Polytechnic State College
  • Central Mindanao University
  • University of Science and Technology of Southern Philippines – Cagayan De Oro Campus
  • MSU – Iligan Institute of Technology
  • University of Science and Technology of Southern Philippines – Claveria Campus
  • Northwestern Mindanao State College of Science and Technology
  • Pangantucan Bukidnon Community College (PBCC)
  • Magsaysay College
  • Initao College
  • Alfonso D. Tan College
  • Northern Bukidnon Community College
  • Opol Community College
  • Tagoloan Community College

Region XI – Davao Region

  • Compostela Valley State College
  • Davao Del Norte State College
  • Davao Oriental State College of Science and Technology
  • Southern Philippines Agri-Business and Marine and Aquatic School of Technology
  • University of Southern Philippines
  • Kapalong College of Agriculture, Sciences, and Technology (KCAST)
  • Governor Generoso College of Arts, Sciences, and Technology (GGCAST)
  • Monkayo College of Arts, Sciences, and Technology
  • Kolehiyo ng Pantukan (KNP)

Region XII – Main SOCCSKSARGEN

  • Cotabato State University
  • Cotabato Foundation College of Science and Technology
  • Sultan Kudarat State University
  • University of Southern Mindanao
  • Glan Institute of Technology
  • Makilala Institute of Science and Technology
  • Autonomous Region in Muslim Mindanao
  • Adiong Memorial Polytechnic State College
  • Basilan State College
  • Mindanao State University
  • MSU-Tawi-Tawi College of Technology and Oceanography
  • Sulu State College
  • Tawi-Tawi Regional Agricultural College

Region XIII – Caraga Administrative Region

  • Agusan del Sur State College of Agriculture and Technology
  • Caraga State University (Northern Mindanao State Institute of Science and Technology)
  • Surigao del Sur State University
  • Surigao State College of Technology
  • Hinatuan Southern College

According to the CHED, the recipients of the free tuition fee privilege shall be required to render services to their respective colleges and universities.  Menial tasks like providing assistance in the library and other similar activities may be required by the school administration from qualified students.  Whatever these tasks are going to be, the schools must make sure that the service does not get in the way of the students’ academic requirements and study time.

A student’s tuition and miscellaneous fees will be waived for as long as:

  1. They pass or meet the admission and retention policies of the institution;
  2. They have no previous undergraduate degree; and
  3. They are not overstaying.

Needless to say, schools will now be more stringent in monitoring their students’ grades to make sure that the privilege is not abused and the objectives of the law are met.  At the end of the day, what we all want is for every Filipino, regardless of economic status, to be provided with quality education and equipped to perform in the corporate or business arena later on.

Reference: www.ched.gov.ph

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Mar 16

Good news for parents and state university students!  You no longer need to pay tuition and miscellaneous fees this coming school year (June 2018)!

According to the Commission on Higher Education (CHED), state universities and colleges are covered by the P8-billion free tuition and miscellaneous fees, following the release of the Implementing Rules and Regulations (IRR) of the Universal Access to Quality Tertiary Education Act of 2017.  CHED will visit the different state universities and colleges in the country to announce the good news.

Who will get free tuition under the Universal Access to Quality Tertiary Education Act of 2017?

According to the CHED, all students who are enrolled or will enroll in State Universities and Colleges (SUCs), accredited Local Universities and Colleges (LUCs), and publicly-run Technical-Vocational Institutions (TVIs) are entitled to free tuition and other fees as long as they fulfill the admission and retention standards of the school.

How does a student qualify for the free tuition fee?

The student must have taken and successfully passed the admission and retention requirements of the school.  He or she must not have an undergraduate degree and not considered as an overstaying student (or has stayed beyond the prescribed school years of his chosen course).

How will the school determine qualified students?

A student’s family income is no longer considered as a basis for his qualification to the free tuition fee program.  The government’s thrust is to not discriminate the scholars based on their parents’ income or capacity to earn.  As far as the administration is concerned, everyone must be entitled to free education for as long as they pass the qualifying examinations.  The income requirement shall be applied only to determine who among the scholars must be given additional financial support; as it is, all students must be able to go to school without worrying about his or her tuition fee.

How much stipend can scholars expect from the government?

For state university students, a budget of Php 40,000 per school year (10 months) will be allocated per student.  This will be given on a staggered basis until the 10-month school year is completed.  If the student is studying in a private university, the scholar will be given Php 60,000.  The budget for private university students is reserved for the underprivileged but qualified to study in the institution based on his exams.

So there you have it!  This school year should be less stressful for most parents and students as all they need to do now is pass the qualifying exams in order to study for free.  Let us take advantage of this privilege afforded to us by the government by studying harder, learning as much as we can from our institutions, and graduate with flying colors.

This is something we definitely will be looking forward to!  Tell us what you think of this news.

Reference: http://news.abs-cbn.com/news/03/15/18/libreng-tuition-sa-college-simula-na-sa-hunyo-ched

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Mar 14 (1)

The Philippine Health Insurance Corporation is responsible for implementing universal health coverage for Filipinos.  Every Pinoy must be listed as a member of the PhilHealth and make regular contributions to secure his claims in the event that he gets sick or gets into a medical emergency.  In the same manner, PhilHealth, being a social insurance program, provides a means for the healthy to pay for the care and wellness of the sick and those who cannot readily afford medical procedures and assistance.

As soon as an individual reaches the age of 21, whether employed or still studying, he or she must already be enrolled and provided with a PhilHealth number.

How does one become a PhilHealth member?  Here are the steps, procedures, and requirements to get a PhilHealth number and begin making contributions to the agency.

Requirements for: UNEMPLOYED MEMBERS (Individually Paying Member)

Submit the following to the nearest PhilHealth office in your area.  Foreigners residing in the Philippines may also enroll in the PhilHealth under this membership category.

  1. Duly filled out PhilHealth Membership Form (PMRF).  You may download a copy of the form here: https://www.philhealth.gov.ph/downloads/membership/pmrf_revised.pdf
  2. Photocopy of PSA birth certificate or any valid government-issued ID.  Bring an original copy of your birth certificate for verification.
  3. Photocopy of supporting documents for your beneficiaries.
  4. Two latest 1×1 ID pictures.
  5. Photocopy of Alien Certificate of Registration (ACR) issued by the Bureau of Immigration (for foreigners only).

Your PhilHealth number will be issued to you on the same day.  Your PhilHealth membership is a lifetime membership and will not change even if you change membership status (in case you become employed or later on, as a Senior Citizen).

Requirements for: EMPLOYED MEMBERS

  1. Duly filled out PhilHealth Membership Form (PMRF), making sure you include your employed status.
  2. Photocopy of PSA birth certificate or any valid government-issued ID.  Bring an original copy of your birth certificate for verification.
  3. Photocopy of supporting documents for your beneficiaries.

Requirements for: OFWs

OFWs may register and pay their contributions once they are registered at the POEA.

  1. Duly accomplished PMRF
  2. Supporting documents of beneficiaries
  3. Any proof of being an active OFW

 

How to get your PhilHealth ID?

There are actually two types of PhilHealth IDs.

  • The paper ID that can be used when claiming inpatient or outpatient hospital benefits. This can be claimed without charge at any PhilHealth Local Health Insurance Office (LHIO).
  • The PhilHealth Insurance ID Card – a digitized ID card issued to members in the Formal Economy and Informal Sector.  This is issued on a voluntary basis at a cost of P90.00.  It is a duly recognized valid government-issued ID.

Both IDs may be applied for at any PhilHealth office.

The following perks are made available to holders of the digitized ID card:

  • 15% discount on generic drugs on Watson’s, Rose Pharmacy, South Star Drug, and The Generics Pharmacy.
  • 20% to 80% discount on flu vaccines on PQ Health Shield and GSK.
  • Free eye exam from Vivian Sarabia optical.
  • 20% discount on regular items in Vivian Sarabia Optical.
  • 10% discount on drug testing services at JNW Drug Testing sites.

Being a PhilHealth member and having any of the two types of IDs above are the most effective ways to claim your health assistance benefits at private and public hospitals.  Always update your contributions to ensure that you are able to claim your benefits in full, when and where you need to.

Reference: www.philhealth.gov.ph

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Mar 13

Apart from being a member of the SSS, you will also be required by your employers to submit your Pag-IBIG membership number.  Pag-IBIG, or the Home Development Mutual Fund is a Government-owned and controlled corporation responsible for the administration of affordable shelter financing to Pinoys.

Like SSS, there are different types of membership under Pag-IBIG.  You could be an employed member, self-paying (or voluntary), self-employed, or an OFW.  Each type of membership has different sets of membership requirements and contribution rates.

If you have not yet signed up with the Pag-IBIG Fund, today’s blog is for you.  Read and share!

5 Steps to Become a Pag-IBIG Member for Employees

  1. Visit the nearest Pag-IBIG office in your area.
  2. Proceed to the Marketing and Enforcement Division.
  3. Request for a copy of the Membership Registration/Remittance Form or MMRF. You may also download and print a copy through this link: http://bit.ly/2IojV71
  4. Fill out 2 copies of the MMRF and submit to the MED, along with a Member’s Data Form. You may download a copy here:  http://bit.ly/2kpyO11
  5. Submit an SSS Coverage and Compliance Certificate for the current year. If you are a government employee, submit your GSIS Certificate of Membership.

Your Pag-IBIG number will be handed to you on the same day.

You also have the option to apply for your membership online through www.pagibigfundservices.com.  Most multi-national companies process the Pag-IBIG membership of newly-hired employees.

Once your Pag-IBIG number is issued, your employer may begin remitting your monthly contribution (deducted from your salary) to the agency.

How much should you contribute to the Pag-IBIG Fund?

Below is the Pag-IBIG Contribution Table for 2018:

Pagibig Contribution Table 2018

 

Self-paying Employees

If you prefer to personally remit your contributions to the Fund, you need to submit the following:

  • Certificate of Employment and Compensation
  • Latest pay slip
  • Company ID

For Self-employed Individuals

If you work from home, run your own business, or a self-employed professional, you may register as a Pag-IBIG member under the Self-employed category.  The following are required upon registration:

  • Latest Income Tax Return (ITR) with Financial Statement certified by an accountant.
  • PRC/BAR license (if licensed professional).
  • Certificate of Remittance / ESAV (for old members)
  • SEC or DTI Registration
  • Business Permit or Mayor’s Permit
  • Two 1×1 ID photos

For OFWs

Even while you are working abroad, you can still be a member of the Pag-IBIG Fund and contribute regularly.  The following are required upon registration:

  • Latest Contract of Employment stamped by POEA.
  • Passport or any valid ID
  • Certificate of Remittance/ESAV
  • Two 1×1 ID photos

If you are already deployed abroad, you can still have your membership and contributions facilitated by your spouse or relatives; you just need to execute a Special Power of Attorney to authorize them to transact with the Pag-IBIG Fund on your behalf.

For unemployed spouse

No longer employed and staying at home with the kids?  You can still be a member of the Fund and continue making regular contributions!  Just submit the following:

  • Letter of consent from the working spouse.
  • Certificate of Employment and Compensation of the working spouse.
  • Affidavit of Unemployment.

As a member of the Pag-IBIG Fund, you have the option to acquire a residential home for you and your family through easy payment terms.  You also have the privilege to apply for multi-purpose loans and are entitled to dividend payments upon retirement.  It is an additional means to save up for our future, apart from the SSS or GSIS.

Reference: www.pagibigfund.gov.ph

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Mar 12

The Department of Labor and Employment is responsible in implementing policies, programs, and services to protect the Filipino rights and privileges as an employee, worker, or laborer.  It is tasked with the enforcement of the provisions of the Labor Code.

If you are a first-time employee, or one who has yet to be acquainted with the Labor Code, you might find this piece helpful.  This can also help business people, who employ others to fulfill their day-to-day deliverables, be more familiar with the required compensation and mandatory government contributions for Pinoy workers.

Here is a summary of all the pays, benefits, and privileges that should be afforded every Pinoy employee.

Wage and Compensation Benefits

The following table shows the minimum wage rate per region and industry in Philippine Pesos:

Summary of Current Regional Daily Minimum Wage Rates
Non-Agriculture, Agriculture
(As of February 2018)

Click on the image to get a clearer view.

Wages

13th Month Pay

This is one-twelfth (1/12) of your basic salary within the calendar year; in simpler terms, you should receive one month’s worth of your basic salary, in full.  This should be released to you no later than the 24th of December every year.  The following is a clear example of how your 13th month pay is computed.

Example your monthly salary is P25,000 and for the whole year, you have not had any unauthorized leaves or absences (perfect attendance), here is how your 13th month pay will look like:

Php 25,000 x 12 / 12 = Php 25,000.00

But what if you incurred some absences such as a maternity leave for a couple of months?  How will your 13th month be computed then?

  • January – Php 25,000
  • February – Php 25,000
  • March – Php 25,000
  • April – Ph 25,000
  • May – Php 25,000
  • June – Maternity Leave
  • July – Maternity Leave
  • August – Php 25,000
  • September – Php 25,000
  • October – Php 25,000
  • November – Php 25,000
  • December – Php 25,000

Your total annual basic salary is Php 250,000

250,000 / 12 = Php 20,833.33 à this will be your 13th month pay.

All 13th month pays that are exempted from being taxed up to Php 82,000.00.

Retirement Pay

An employee who has worked for an establishment for at least five years may be granted a retirement pay upon reaching 60 years old.  The retirement pay is equivalent to at least one-half month of salary for every year of service (a fraction of at least six months is considered as one whole year).

Overtime Pay

Overtime work is work rendered beyond the required 8-hour shift per day.  An employee who renders overtime should be compensated for the extra work hours that is equivalent to his regular wage plust at least 25% premium.

If the overtime was rendered on a holiday or on the employee’s rest day, the employee shall pay an additional compensation from the rate of the first eight hours on a holiday or rest day, plus at least 30%.

If the overtime was rendered on a special non-working day, or the employee’s rest day, an additional compensation of 30% premium will be paid in addition to the rate of the first eight hours on holiday or rest day.

Night Differential

Working at night is no strange thing in the Philippines and anyone who renders service between 10pm to 6am is entitled to an additional 10% premium for every hour at work.  This is the minimum rate; other companies offer higher Night Differential premiums (when I began working in 2002, my employer gave us 25% premium as night differential. Good times!).

Leave Benefits

  1. Maternity Leave

The ML is granted to pregnant women employees who have worked with the company for at least six months.  The maternity leave may take effect at least two weeks prior to the employee’s due date and four weeks after normal delivery or miscarriage. This shall be compensated in full based on the employee’s regular salary.

ML benefits are applicable up to four deliveries (including miscarriages).

  1. Paternity Leave

R.A. No. 8187 grants seven full days of fully paid leaves to married fathers and is effective up to the first four deliveries of his legitimate spouse.

  1. Parental Leave for Solo Parents

A solo parent is granted seven days leave with pay for every year of service, on top of other leave privileges.

  1. Special Leave Benefits for Women

This is a special leave granted by the government to women who underwent gynecological surgeries.  She may go on leave for two months with full pay, for as long as she has rendered at least six months of service with the company.

Women who were victims of violence, as stipulated in RA 9262 or the Anti-violence Against Women and their Children Act, are entitled to 10 days leave with full pay.

Mandatory Government Benefits and Contributions

As a regular employee, your salary shall be subject to deductions in order to comply with your monthly contributions to SSS, Pag-IBIG, and PhilHealth.  Of the three, SSS now has an online facility where you can check updates on the posting of your contributions and payments to loans (if any).  For as long as you are employed, you shall contribute to these government agencies and shall thereby be entitled to certain benefits and privileges, until you retire from employment.

This week we will feature the step-by-step process on how to be a member of PhilHealth and Pag-IBIG and how much you should be contributing to these agencies if you are employed, self-employed, or a voluntary member.

References:

http://www.dole.gov.ph

http://www.nwpc.dole.gov.ph

 

 

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Mar 08

As an SSS member, you are entitled to retirement benefits as soon as you hit your 60s.  This can be a lump sum amount that you can use to start a small business, or go on a trip as a reward to yourself.  Or you can choose to receive a monthly pension, as if you are still being salaried monthly by an employer.

Can you at least have a ball park figure of how much pension you can expect to receive from the SSS later on?  You may still have about 40 years ahead of you before you hit your 60s but it won’t hurt to get a glimpse.  This way, you can think of alternative ways to secure your finances when you finally become a Senior Citizen.

SSS follows three formulas when computing for a member’s pension.  Keep in mind too that the amount of your pension will largely depend on the salary you received during your employment years, and the amount of contribution you religiously remitted to the system.

If your monthly salary is P30,000.00 and you decide to retire at the age of 60, and you have a total of 30 years of employment behind you with 30 years’ worth of contributions, your pension will be based on whichever amount is higher based on the following calculations:

Example: Average total contribution is P1,790.00 x 30 years x 12 months = P644,400.00

a. The sum of P300 + 20% of average MSC + 2% of the average MSC for each credited year of service in excess of 10 years.

P300 + 20% (AMSC) + 2% (AMSC) for each year of service in excess of 10 years

P300 + (P16,000*20%) + (P16,000 *2%*20 years)

P300 + P3,200 + P6,400

Pension: P9,900.00

 

b. 40% of the AMSC

P16,000 * 40%

Pension: P6,400.00

 

c. P1,200 if the CYS is at least 10 but less than 20; or P2,400 if the CYS is 20 or more.

Pension: P2,400 since you have more than 20 CYS.

Given the above, the retiree will be granted the P9,900 pension as it is the highest value yielded by any of the formulas.

Remember that you shall qualify as a pensioner only if you have contributed at least 120 months or 10 years to the SSS.  If not, you shall be granted a lump sum amount equivalent to your total contribution plus interests.

Most of us may still have about 20 or so years to go before we start thinking about retiring and claiming our monthly pension; but if we start right now, we would be reaping the rewards in due time.  It is our responsibility to ourselves and our families to secure our future and make sure that we shall be properly compensated for all the hard work.

One way to monitor the timely and proper posting of your contributions is by creating an online SSS account.  This way, you can check all the details of your SSS account even without going to an SSS office.

 

Reference: http://www.sss.gov.ph

 

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Mar 07

Getting sick is inevitable.  Whether you are an employee, a business person, or a stay-at-home parent, you will eventually have to take some rest to recuperate from a viral or bacterial infection.  Other times, you might get injured at work and will need some time off to heal and rehabilitate before you are able to go back to your normal daily routine.

The good news is, if you are a member of the SSS, you are entitled to sickness benefits to help you defray expenses when your capacity to earn is lessened due to being confined in bed, a wheelchair, or a hospital.

How to know if you are qualified for SSS Sickness Benefits?

  1. You have to be an SSS member.
  2. You have been sick or are injured and unable to work; you have been confined in a hospital or at home for at least 4 days.
  3. Your contributions are updated or have at least paid three months of monthly contributions before your illness or injury.
  4. All your “leave with pay” credits have been used up.
  5. Your employer is duly notified of your sickness or injury; if unemployed, voluntary, or self-employed, you must have notified SSS prior to claiming.

If your answer to all five qualifiers is “yes”, you can proceed to the nearest SSS branch to apply for the sickness benefit.

How do I notify the SSS about my illness or injury?

For EMPLOYED members:

An employed member must advise his or her employer within five calendar days of his sickness or injury.  It is the employer’s obligation to advise SSS of the employee’s condition.

  • Should you fail to notify your employer within the five-day timeframe, your confinement will be considered to have started five days before you notified him.
  • If the employer fails to notify the SSS within the five-day timeframe, your employer will be compensated only for each day of confinement from the 10th calendar day prior to notifying SSS.
  • If you notified your employer but he failed to notify the SSS and as a result, your benefits were denied, he or she must not be able to recover your daily sickness allowance.

For SELF-EMPLOYED members:

You must notify the SSS within five days after getting sick or injured.  If you are confined in a hospital, you have one year to notify the SSS.

What are the requirements when filing?

For EMPLOYED members:

Submit the following to your HR or to your company’s representative to SSS:

  1. Duly accomplished sickness notification.
  2. Identification card/s and documents (ex: PSA birth certificate)
  3. Medical documents, if any.

If the claim is work-related (or if you incurred the sickness or injury at work):

  1. Accident/sickness report from the employer, if work-connected; and
  2. Police Report (for a vehicular accident with third party involvement);
  3. Photocopy of employer’s logbook.

In case of prolonged confinements or sickness, original/certified true copy of the following:

  • Laboratory, X-ray, ECG, and other diagnostic results.
  • Operating room/clinical records that will support the diagnosis.

In case of sickness that occurred while on strike/shutdown, the member will file the necessary documents directly at the SSS.  He or she must submit the above requirements, including the following:

  • Certificate of Notice of Strike issued by the DOLE.
  • Certificate of Foreclosure.
  • Certification from the DOLE that the employee or employer has a pending labor case.
  • Certificate of Non-advancement of Payment from Employer.

For SELF-EMPLOYED Members:

  1. Duly accomplished Sickness Benefit Application (SBA)
  2. If filed by the member, present original of any one (1) of the primary ID cards/documents or two (2) secondary ID cards/documents, both with signature and at least one (1) with a photo.
  3. If filed by member’s representative:
    1. Original of any one of the Authorized Representative’s primary ID cards/documents or two secondary ID cards/documents, both with signature and at least one with a photo.
    2. Original of any one of the Member’s Primary ID cards/documents or two secondary ID cards/documents, both with signature and at least one with a photo.
  4. In case of prolonged confinements or sickness, original/certified true copy of the following:
    1. Laboratory, X-ray, ECG and other diagnostic results.
    2. Operating room/clinical records that will support the diagnosis.

How much will I receive from the SSS?

The amount you will receive will be equal to 90& of your average daily salary credit.  For example: if your average daily credit is Php 1,000, then you will receive Php 900 per day of sickness or confinement.

If you are an employed member, your employer should give you the sickness benefit in advance.

The sickness benefit is granted up to a maximum of 120 days in one calendar year.

 

Reference: http://www.sss.gov.ph

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Mar 03

Every member of the SSS is entitled to benefits and privileges and you do not necessarily have to wait until your retirement age before you take advantage of these.  One such privilege is applying for a salary loan to help you during emergencies such as home repair expenses, hospitalization, and new home appliances.  Applying for an SSS salary loan is quick and easy, especially if you have an online SSS account.

Here are the facts you need to know:

How much can you loan from the SSS if it is your first time to apply?

No two SSS members have the same exact loanable amounts; this will depend on the member’s contributions.  Your loanable amount is the average of the last 12-month salary credits (MSC).

Example:

If you are consistently paying the minimum monthly contribution of P110 with an equivalent MSC of P1,000, your loanable amount is P1,000.

If you are consistently paying the maximum monthly contribution of P1,760 with an equivalent MSC of P16,000, your loanable amount is P16,000.

The maximum loanable amount is P32,000.

How would I know if I am qualified to avail the salary loan?

A member is qualified to apply for a salary loan if he or she has paid at least 36 monthly contributions and has at least six posted monthly contributions within the last 12 months before filing the application.

If you have completed 36 months of contributions but not more than 72 monthly contributions, you will be entitled to one-month salary loan; but if you have paid at least 72 monthly contributions, you are entitled to a two-month salary loan.

I am employed and would like to apply for a salary loan with the SSS.  Should I apply through my employer or do I have the option to go directly to SSS?

A certification for the loan is required of employed members; therefore, if you are employed, you must apply through your employer.  The monthly payments will be automatically deducted from your salary and remittances will be facilitated by your employer.

I am compelled to resign from my job but I still have an outstanding loan with the SSS.  What will happen to my loan after I resign?

The employer will deduct the full balance from the proceeds of the employee’s benefits from the company; the employer shall remit the amount to the SSS.  In case the employee’s separation benefits cannot cover the full amount of the loan, the employer must report the details of the employee’s resignation to the SSS, including the full amount of unpaid loan balance.

I am a freelancer but I would like to get a salary loan from the SSS; what are the requirements and how do I apply?

The same requirements apply for freelance SSS members:

  1. The member should have paid at least 36 monthly contributions and has at least 6 posted monthly contributions within the last 12 months before the month of filing of the application.
  2. A member who has paid at least 36 months but not more than 72 monthly contributions is entitled to a one-month salary loan while those with at least 72 paid monthly contributions are entitled to a two-month salary loan.

If you are not employed by a company, you may simply file your salary loan at any SSS branch.  Fill-out an application form and photocopy your SSS ID or UMID, or any two valid IDs.

How will the proceeds of my loans be released to me?

The SSS will send a check in your name to your employer. You may have to fill out a few more documents, depending on your employer’s requirements.  Otherwise, you may just have to return the voucher attached to your check to your employer to serve as their record of your loan.  Your loan payments will be automatically deducted from your monthly salary.

You may renew your loan after paying at least 50% of your salary loan.  It is advisable that you keep an online account with the SSS so you can keep track of your payments.

If you have any questions regarding your SSS membership, send us a message and we will do our best to find the answers for you.

Reference: www.sss.gov.ph

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