Wednesday, August 15, 2012

SSS' Auto Debit Arrangement Program

I have my "senior moments." I sometimes forget the time slot of my favorite show (hence, my need for Torrent, hahaha!) and due date of my Globe and credit card bills. My worst moment is forgetting to double lock our door one night. Good thing, we were not robbed, but I had to face my angry mom the morning after.

Since I am now a voluntary SSS contributor (my employer does not withhold anything), I need to remind myself to pay my contribution and loan every month. But just today, I've discovered that I don't have to do that anymore.
Oh no, not again!!! Photo Source


SSS has a program called the Auto Debit Arrangement, wherein the contribution and loan amortization will be automatically deducted from one's bank account (either savings or current account) every 10th of the month. Talk about convenience!

This program will benefit the voluntary members (like me, me, me!!!), self-employed members, household employers, OFWs, employed members with housing loans, and members separated from employment with existing loan balance.

I just went to the bank (in my case, Metrobank, since this is where my company credits my payroll) and filled-up a form. That's it! I'll just have to wait for SSS to inform me when the deduction will begin. Other banks are BPI, BDO, PNB, UCPB, PSBank, DBP, and Green Bank.

Although this can also be done online, I find this scheme easier because I don't have to remember the remittance format (which I typically forget. Oh, by the way, might as well put it here, for Metrobank Direct, the format is SSS number + applicable month (mm) + year (yyyy). I just confirmed that with Metrobank for the 3rd time this year.)

I just love making my life easier! :)
Posted by at
Labels: ,

20 comments:

  1. Tarrah Pelae-MeladAugust 20, 2012 at 6:54 AM

    are your sss contributions regularly updated? i also enrolled SSS ADA. they deduct ontime but it is not immediately reflected on my sss records.

    ReplyDelete
  2. The Thrifty ChickAugust 20, 2012 at 7:31 AM

    Hi Tarrah. I'm not actually sure because I'm still waiting for their confirmation for my ADA. What I notice is there's always a lag time of around 2-3 days (I pay either Bayad Center or Metrobank Direct).

    ReplyDelete
  3. Tarrah Pelae-MeladAugust 20, 2012 at 7:44 AM

    we're using BPI pero i think the lag is with sss. anyway, it's better than going to sss. they usually have long lines waiting for you. ugh.

    ReplyDelete
    Replies
    1. The Thrifty ChickAugust 20, 2012 at 8:06 AM

      Definitely. As long as my payment's posted, it's fine with me! :)

      Delete
    2. AnonymousSeptember 16, 2012 at 8:52 AM

      > hi tarrah pano ba mag auto debit arragement sa bpi, gusto ko sana yung sss contribution ko true online magbayad.

      thanks.

      Delete
    3. AnonymousSeptember 16, 2012 at 9:12 AM

      hi tarrah, pano magbayad sa bpi ng sss contribution true online, i have expressonline pero parang wala sa merchant list ang sss.

      can you help me on this.

      Delete
    4. The Thrifty ChickSeptember 16, 2012 at 6:03 PM

      Hi! For online banking, I don't think SSS is listed in BPI's merchant list. But you can auto-debit your SSS payments through BPI. Just go to your branch and fill-up a form.

      Delete
  4. The Sunset GoddessNovember 14, 2012 at 12:59 AM

    Hi Thrifty Chick! I have recently switched from being employed to self-employed and now that I need to pay my SSS voluntarily, I wonder if SSS contributions are really a good investment in the long run. I mean, do you have an idea what's the per annum rate? I don't know if I should do voluntary SSS contributions or just a variable life insurance/investment plan with the money for the SSS contributions. Would appreciate your thoughts :) my email is sunsetgoddessmanila@yahoo.com. Thanks very much :)

    ReplyDelete
    Replies
    1. The Thrifty ChickNovember 14, 2012 at 4:34 PM

      Hi there, Sunset Goddess!

      I pay my SSS contribution because of the other benefits aside from retirement (maternity, disability, sickness, salary/emergency loans). Though if you want a comfortable retirement, I suggest not to rely on SSS alone. If my computation is correct, you'll only receive around Php 12K/month if your SSS contribution is at maximum and if you work for 40 years. It maybe enough for you to survive, but I could just imagine the prices of goods 30 years from now!

      Since my retirement is still in 30 years, I put my retirement fund in high-risk investments (stocks, mutual funds/uitf placed in equities). To manage the risk, I'll probably switch a portion of my funds to low risk investments when I'm near my retirement age.

      Delete
  5. ShinelMay 31, 2013 at 7:52 AM

    Hi, I am so happy I found this blog of yours. Me & my hubby are OFWs. We have a Savings Account under my name. Is there a way I can enroll my SSS ADA through online with my BDO account? No one can process it kasi sa Pinas, since my Mother-in-Law is very old already. I saw a PDF form of ADA on the Internet. or do they need for a personal appearance in the bank? and my second queston is, the account is on my name. Can I enroll my husband also in the same account?

    thank you.

    ReplyDelete
    Replies
    1. The Thrifty ChickJune 5, 2013 at 5:15 PM

      Hi Sunshine! I confirmed with BDO customer rep, you still need to go to a BDO branch to apply. However, if you have Metrobank account, you may pay your SSS online.

      Delete
  6. ShinelMay 31, 2013 at 7:53 AM

    Hi, I am so happy I found this blog of yours. Me & my hubby are OFWs. We have a Savings Account under my name. Is there a way I can enroll my SSS ADA through online with my BDO account? No one can process it kasi sa Pinas, since my Mother-in-Law is very old already. I saw a PDF form of ADA on the Internet. or do they need for a personal appearance in the bank? and my second queston is, the account is on my name. Can I enroll my husband also in the same account?

    thank you.

    ReplyDelete
  7. ShinelMay 31, 2013 at 11:30 AM

    Hi. Me & my hubby are OFWs. We have a Savings Account under my name. Is there a way I can enrol my SSS ADA through online with my BDO account? No one can process it kasi sa Pinas, since my Mother-in-Law is very old already. I saw a PDF form of ADA on the Internet. or do they need for a personal appearance in the bank? and my second question is, the account is on my name. Can I enrol my husband also in the same account? He is currently on vacation so hopefully you can reply me before he'll come back, just in case. 3rd, do I have to separately register my LOAN PAYMENT and my CONTRIBUTION?

    thank you.

    ReplyDelete
    Replies
    1. The Thrifty ChickJune 5, 2013 at 5:40 PM

      Hi again! If you fill-up the ADA form, no need to do the loan payment and contribution separately, it's all there (at least that's what I remember from my experience with Metrobank), however, you need to go there personally.

      Delete
  8. StephaniJuly 6, 2013 at 2:36 AM

    Hi there!

    My bank is BPI. If I want to enroll for ADA, do i have to go to my mother branch or can I visit any branch of BPI? Also, I remember asking about it before but they (BPI) said that they don't do ADA anymore. Is this true?

    Thanks!

    ReplyDelete
    Replies
    1. The Thrifty ChickJuly 6, 2013 at 3:53 AM

      Hi Stephani,

      You can visit any branch and fill out a form, but I'm not sure whether BPI still have ADA facility though.

      Delete
  9. frugalexpatJuly 20, 2013 at 10:59 AM

    Hi, Thanks for sharing this info.

    I wish I have known this option earlier during my vacation. It really makes life easier with this arrangement.

    Thanks again for sharing

    ReplyDelete
  10. RiolyndaDecember 2, 2013 at 5:58 AM

    Hi,

    I wonder if I can use my old sss # in paying sss online because I stopped working for a long time and haven't continue paying it. I know it is still active but I would be happy if you have an idea if I can still pay as voluntary online? Do I need to go to sss office to reactivate my payment or make it voluntary or my bpi bank can help me. Hope to hear from you. ;-)

    ReplyDelete
    Replies
    1. The Thrifty ChickDecember 2, 2013 at 6:53 AM

      According to SSS, once you pay personally, your status will automatically update to voluntary.

      Delete

Subscribe to: Post Comments (Atom)