OFWs urged to settle SSS contribution underpayments

 MANILA – Overseas Filipino workers, self-employed and voluntary members are urged to settle their contribution underpayments with the Social Security System to ensure that monthly premiums for January 2014 and onwards are aligned with the new contribution schedule.

Underpayments are caused by monthly contributions that were paid in advance based on the old contribution rate of 10.4 percent and maximum monthly salary credit (MSC) of P15,000.

But the rate has increased by 0.6 percent to 11 percent in January 2014, while the maximum MSC is now at P16,000.

Affected members are those who made advance payments prior to the announcement of the new SSS Contribution Schedule, as well as members unaware of changes in the amount of contributions that took effect starting this year.

"Members can settle their underpayments at any SSS branch with tellering facilities, which are open from Mondays to Saturdays, or in any of our accredited local banks. They must use the SSS Form RS-5 and indicate that the amount paid is intended for settling their underpayment for the specified applicable months," said Judy Frances See, SSS Senior Vice President for Account Management.

OFWs, self-employed, and voluntary members who paid at the minimum MSC of P1,000 would have an underpayment of P6.00 per month. As for affected OFW-members who paid contributions based on their minimum MSC of P5,000, their underpayment would amount to P30.00 per month.

Likewise, affected OFWs, self-employed, and voluntary members with payments above the minimum MSC may opt to pay the corresponding increase in contributions to retain the posting of their payments at the same MSC. Otherwise, their contributions will be posted at the applicable lower MSC.

“We advise members to settle their underpayments and put their contribution records in order as early as now to avoid issues arising from 'out-of-bracket' payments. Members paying at the minimum MSC, in particular, will have their contributions deemed 'ineffective' if they fail to settle the corresponding underpayment that will complete the full amount of the minimum monthly contribution,” See added.

Source: ABS-CBN News

Posted at 03/01/2014 4:51 PM | Updated as of 03/01/2014 4:55 PM

City living made more convenient at Salcedo Square

In spite of the frenetic pace that city living tends to be at times, its vibrancy and the opportunities for growth are still enough reasons for people to still want to call it home. Addressing this demand, Vista Residences, the vertical arm of Vista Land, the country’s largest home builder, is proud to offer Salcedo Square, which will top off this March 2014 and will have its turnover on the first half of 2015.

Rising in one of the prime locations in the Makati CBD, Salcedo Square aims to provide busy city folks the perfect balance of work-live-play that seems elusive to most people.

Live right where Things happen

Located along L.P. Leviste Street in Salcedo Village, Salcedo Square provides a highly advantageous location for its residents. Not only will they be able to easily go to work or meet up with clients as it is located right smack in the Makati CBD, the location also allows them to enjoy much-deserved rest and lots of opportunities for recreation as it is also within close proximity to various cultural, dining and entertainment hot spots. For added convenience, Salcedo Square is also near schools, hospitals, churches and various commercial establishments. Now the best of Makati is within easy reach through Salcedo Square.

It is easily accessible through the South Luzon Expressway (SLEX) via Buendia Avenue and Salcedo Street or EDSA via Paseo de Roxas and Villar Street.

Modern yet cozy

Expertly designed by one of the leading firms in the country, Casas Architects, Salcedo Square is sure to be a sight to behold once it’s completed. Clean lines and modern inspirations compose the building’s overall look, making it attractive for young professionals who have a penchant for more streamlined structures.

While the property boasts of such attractive design elements, it still makes sure to provide its residents with the relaxed, calming atmosphere that every home should be able to provide.

Keeping in mind the various home musts of different individuals, each unit at Salcedo Square contains the following key features—kitchen cabinet system, telephone line, fire detection and alarm system, fire sprinkler system, CATV system, provision for water heating system, and provision for air conditioning. Complementing these is the exquisite design that sets the mood for a truly relaxed home life especially after a long day at work.

Addressing every need for utmost convenience

To ensure that its residents will get the best of both worlds not just in terms of location and well-appointed units, the building itself is also filled with various amenities and key features that ensure safety and utmost convenience for every resident. Starting from the well-appointed air-conditioned lobby, a powerful standby generator capable of operating all major appliances, two passenger elevators, one service elevator, fully-automated fire and smoke detection system, water reservoir and fire reserves, centralized garbage depository, Wi-Fi for common areas, round the clock security services, and a full-time building administrator and in-house building maintenance group.

With turnover date expected to be on the first half of 2015, Salcedo Square is set to be the dream home that every hardworking city dweller has been waiting for.

For more information, you may visit our website at http://www.yourwiseinvestment.com