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SSS lowers service fees for online payment channels, over-the-counter transactions

THE Social Security System (SSS) announced, through SSS Circular No. 2023-001 dated April 26, 2023, the lowering of service fees charged by SSS-accredited collecting banks, and remittance and transfer companies.

SSS President and Chief Executive Officer Rolando Ledesma Macasaet said the pass-on service fees being charged by SSS collecting partners shall be lowered and capped at P8 per transaction for online payment channels and at P10 per transaction for over-the-counter payment.

Macasaet said SSS members will greatly benefit from the reduction of service fees whenever they pay their contributions over-the-counter and through online payment channels.

The lowered service fees cover the monthly contribution payments of self-employed and voluntary members, Overseas Filipino Workers (OFWs), farmers and fishermen, and non-working spouses. The new guideline also applies to contribution payments of employed SSS members for the Worker’s Investment and Savings Program (WISP) Plus.

“We talked and negotiated with our collecting partner banks as well as with remittance and transfer companies to help ease the burden of ordinary SSS members by reducing the pass-on service fee whenever members pay their regular social security and WISP Plus contributions over-the-counter or through online payment channels,” Macasaet said.

Prior to the new guidelines, banks charged SSS members a pass-on service fee of up to P25 per transaction while remittance and transfer companies charged a pass-on service fee of up to P15 per transaction when paying their contributions.

The lowered pass-on service fees took effect on May 1, 2023. (UnliNews Online)

Manny D. Balbin
Manny D. Balbinhttp://unlinews.org
Emmanuel "Manny" Dineros Balbin, founder and editor-in-chief of UNLINEWS ONLINE and UNLINEWS Digital Newspaper, is a former seminarian of Oblates of Mary Immaculate (OMI) in Notre Dame University Seminary in Cotabato City. Graduated college with Philosophy and Political Science courses at the University of Santo Tomas, Legazpi City. A former Journal Group of Publication (People's Journal, People's Tonight, Taliba & Women's Journal) staffer for 17 years. Before, he simultaneously contributed news articles to 3 local newspapers in Bulacan (NewsCore, MetroNews & NewsWatcher). He is the founder and the former editor-in-chief of RONDA Balita, both in weekly newspaper and online news. A former Kabayan provincial reporter, 2010 Bulacan election correspondent by Rappler and presently, a stringer of Philippine News Agency (PNA) Bulacan.
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