Waiver or Suspension of Coverage
- Generally, waivers or suspensions of coverage are not allowed except for distressed employers.
Effects of Waiver or Suspension on Employers and Employees
- The waiver/suspension granted to an employer applies to all employees except member-borrowers.
- Member-borrowers must continue to pay and remit monthly contributions personally.
- Member-savers may choose to remit contributions with or without employer participation to remain in good standing.
- Employers are obligated to deduct and remit contributions for member-borrowers through salary deductions, despite having waiver or suspension certificates.
Application Processing for Waiver or Suspension
- The Fund President issues rules on filing, receiving, requirements, processing, and decision on waiver/suspension applications.
- Applications must use forms prescribed by the Fund President.
- Mandatory coverage remains effective until expressly waived or suspended by the Fund President.
Decision on Waiver or Suspension Application
- The Fund President's decision is final and unappealable after 30 days unless appealed to the Board of Trustees.
- The Board's decision is final and unappealable after 15 days unless appealed to a competent court.
Repealing Clause
- All conflicting policies, guidelines, or rules inconsistent with these amendments are repealed, amended, or modified accordingly.
Effectivity of the Amendments
- Amendments take effect 15 days after publication in at least two national newspapers.
- A copy must be filed with the Office of the National Administrative Register, University of the Philippines Law Center in compliance with the Administrative Code.