One of the delays that Social Security System (SSS) members often experience is the late posting of contributions and loans. This is due to slow process of manual posting and verification.
To provide faster services to its members, the state fund will begin to implement the electronic Collection System (e-CS) to make the real-time posting of contribution payments possible by first quarter next year.
SSS President and Chief Executive Officer Emmanuel F. Dooc said that the real time posting of contributions thru e-CS will allow faster processing of claims and help members and beneficiaries receive their benefits and loans promptly.
Benefits and loans are based on member contributions, thus it is necessary that the payments posted correctly and punctually.
One example given by Dooc is the sickness benefit which requires a member to have at least three posted contributions, 12 months immediately before the semester of sickness or injury. If there were some unposted contribution, then the member cannot avail of the benefit.
Within this year, SSS will aim for near real-time processing of contribution payments from branch-tellering facilities. This means contributions will be posted just within 24 hours from the time of payment.
“All SSS branch teller facilities and nonbank payment partners will implement real-time posting of SSS contribution payments starting January 16, 2018. All commercial and universal banks are required to convert their current manual processing of SSS contribution collection and report submission into the e-CS with PRN [Payment Reference Number] by February 4, 2018, and March 4, 2018, for all other banks,” Dooc said.
The Social Security Commission has approved the policy amendments, system and procedural enhancements, and resource requirements for the implementation of the e-CS.
For the enhancement of the process, all employers and individual members should register in the My.SSS facility. Through the facility, members can generate their Statement of Account.
Meanwhile, employers who will have access to electronic Contribution Collection List (e-CL) can review and edit it. They can also add newly hired employees and report separated employees conveniently.