Amendments to Philippine Social Security Law

The SSS is created with principal offices in Manila or Quezon City.
Governed by a Social Security Commission comprising the Secretary of Labor, the SSS Administrator, and six members representing labor, management, and general public.
Members appointed by the President with Senate consent, serving three-year staggered terms.
Commission members receive per diem for meetings attended.
Operations are managed by an Administrator appointed by the President, responsible for executing programs and policies.

Decisions or awards by the Commission, once final, have the same force as Court of First Instance decisions.
The Commission can issue writs of execution and seek court contempt charges for non-compliance.

Compensation: All remuneration received, up to a maximum of 1,000 pesos per month.
Monthly Salary Credits: Basis for contributions and benefits as per schedule.
Contributions: Payments made by both employee and employer.
Average Monthly Salary Credit: Calculated over specific periods before retirement, disability, or death.

Eligibility: At least 120 monthly contributions and age 60 with separation, or age 65 regardless of employment, or permanent total disability with 36 contributions.
Pension computation based on percentage of average monthly salary credit.
Minimum pension guaranteed at 45 pesos.
Suspension of pension upon re-employment at compensation of 250 pesos or more, or failure to undergo required examinations.
Pension increases for surviving pensioners retired before December 1, 1972.

Death benefits include a basic lump sum plus increments for contributions exceeding 120 months.
Eligibility conditions on contribution history and payment ratio.
Minimum death benefit not less than total contributions or 500 pesos.
Permanent total disability benefits similar to death benefits with proportional adjustments for partial permanent disability.

Covered employees with at least 12 contributions and hospitalized for over 5 days may receive 70% of average daily salary credit.
Daily allowance ranges from 2.50 to 12 pesos, payable up to 120 days per calendar year.
Notification requirements for sickness within 5 days.
Employers pay sickness benefits and are reimbursed by SSS under conditions.
Employer obligations in claim notifications and penalties for delayed reimbursement claims.

Benefits paid only to entitled persons.
Foreign nationals in countries not extending reciprocal benefits are excluded.
Protection of minor or incapacitated beneficiaries by appointed representatives.
Benefits not transferable; power of attorney exceptions apply only for those physically or legally unable to claim.
Death benefits without designated beneficiaries paid to legal heirs.

SSS assets, contributions, benefits, and related documents exempt from taxes and legal processes.
Benefit payments cannot be attached, garnished, or seized, except for debts owed to SSS by the beneficiary.

Employer deducts employee contribution monthly based on salary bracket and remits combined employer and employee contributions.
Contribution schedule detailed with specific percentages and increments effective in 1974 and 1979.
Employers must issue receipts or indicate deductions on pay envelopes.
Employers barred from deducting employer contributions from employee wages.
Quarterly remittance supported by collection lists with employee data.

Contributions remitted within seven days after the applicable month or as prescribed.
Employers liable for unpaid contributions plus 3% monthly penalty.
Optional quarterly or semi-annual advance payments possible.
Last contribution records presumed accurate unless proven otherwise.
Employers given a six-month grace period post-enactment to remit past due contributions without penalty.

Employers must report employee details immediately to SSS.
Liability for failures in reporting, including damages payable to SSS for unreported employee benefits.
Penalties for misrepresentation or under-remittance causing benefit reduction.
Confidentiality of submitted records unless subpoenaed.
Employers to maintain accurate records and annual registers of employee status.
Records open for inspection; reports may be required.
Registration numbers required as employment condition from July 1, 1973.

SSS funds administered similarly to public special funds.
Expense ceiling set to a decreasing percentage of collections but not less than 7%.
Unused expense allocation not transferable to future years.
Priority given to operational decentralization with annual progress reporting to Congress.

Reserve Fund exclusively for benefit payments; not for other uses.
Target average annual income from investments at least 7%.
Contingency reserve fund set at 5% for extraordinary claims.
Investment reserve fund diversified across government bonds, bank deposits, government loans, housing loans prioritized for low-income groups, credit facilities for short-term loans, and other income-generating secure projects.
SSS may act as insurer for mortgages with regulated premium rates.
Insurance regulated under general insurance laws except where conflicting with Social Security Law.

Falsification for unauthorized payments penalized with fines (P500-P5,000), imprisonment (6 months to 1 year), or both.
Fraudulent receipt of benefits similarly penalized.
Employers failing to remit deducted contributions within 30 days presumed to have misappropriated funds, punishable under Revised Penal Code.
Criminal actions may be initiated by SSS or affected employees under this Act or the Penal Code.