SSS amnesty program nets P916.5M; P2B more expected

THE Social Security System has collected a total of P916.45 million from 17,920 employers in six months ending on August 2 under a rare amnesty program that condoned penalties on overdue premiums.

Emilio de Quiros Jr., SSS president and chief executive officer, said 11,588 employers, or about 65 percent, remitted P609.38 million in full payments, while P307.07 million more were from installments.

The payments were made under the Social Security Condonation Act of 2009, which took effect in February. It gave delinquent employers the option to remit their overdue premiums in full or pay by monthly installments of up to 48 months. Those who took advantage of the installment-payment scheme issued postdated checks to cover their delinquencies.

“The SSS expects to collect P2.04 billion more in receivables from more than 6,300 employers who opted to settle their premiums through installment payments,” de Quiros said.

About a third of employers who availed themselves of the program were from the National Capital Region (NCR), whose payments combined for 61 percent of the total, or P556.46 million. Receivables from NCR employers paying by installment amounted to P1.44 billion, and P276.41 million more are from those in Mindanao.

“We observed that majority of employers who availed themselves of the program in NCR were construction firms, security and manpower agencies, single proprietors and large corporations,” he said.

De Quiros said the SSS will file cases against delinquent employers, who face imprisonment of up to 12 years, a maximum fine of P20,000 and a monthly penalty of 3 percent, as mandated by the Social Security Law.

“We are happy that thousands of employers chose to make amends with their workers by availing themselves of the amnesty program, which paves the way for their employees to be eligible for SSS benefits and loans,” de Quiros said. –Businessmirror