Special Provisions for Domestic Workers and Salary Boundaries
- Domestic workers ("kasambahays") earning less than the minimum prescribed salary credit contribute based on their actual monthly income.
- For compulsory members earning below the minimum or above the maximum salary credits, contributions are based on the set minimum or maximum salary credit, respectively.
Presidential Authority to Defer Contribution Increases During State of Calamity
- The President of the Philippines can suspend the implementation of the 1% increase in contribution rates and adjustments in monthly salary credits scheduled for 2021.
- This suspension may only be exercised during the state of calamity under Proclamation No. 929 s. 2020, as amended by Proclamation No. 1021 s. 2020.
- Other scheduled contribution rates and salary credits outside this suspension remain valid and effective.
Protection of Member Benefits and Administrative Procedures
- The Social Security Commission shall not introduce changes in rules or procedures that would delay the disbursement of benefits currently enjoyed by members.
Penalties on Unpaid Loan Amortizations
- The Social Security Commission has the authority to determine and fix penalty rates on unpaid loan amortizations.
- Such penalties must be based on actuarial studies, benefit rates, inflation, and relevant socioeconomic factors.
Separability Clause
- If any provision of the Act is found invalid or unconstitutional, the rest of the law remains effective and enforceable.
Repealing Clause
- Any laws, decrees, issuances, orders, or rules inconsistent with this Act are repealed, amended, or modified accordingly.
Effectivity Clause
- The Act takes effect 15 days after publication in at least two newspapers of general circulation.