Automatic Payroll Deduction for CCA

AFPSLAI Reular members can build up their capital contribution through salary or pension deduction scheme, which will automatically be credited to the member’s CCA (001) to earn dividends.

FEATURES:

• Minimum remittance of ₱200 per month
• Salary/pension deduction scheme
• Automatically credited to the member’s CCA (001) to earn dividends
• For those enrolled in this scheme, quarterly placement may reach a maximum of ₱60,000 (₱15,000 over-the-counter deposit plus ₱15,000 CCA remittance)

1. Member proceeds to Membership Section
2. Member submits duly filled out Authorization for Payroll Deduction & Remittance, Adjustment and Stoppage – Capital Contribution (CC) Form and requirements.
3. Membership staff encodes the data in the system.
4. Billing and Collection Division generates billing to be endorsed to the Finance Center for billing.
5. Deduction shall take effect one or two months from time of application depending on the date of effectivity by the Finance Center.
6. Member updates CCA passbook to check amounts posted on a monthly basis.

Q: What are the requirements?
A: Submit the duly filled out Authorization for Payroll Deduction & Remittance, Adjustment and Stoppage – Capital Contribution (CC) Form, valid ID, payslips and CCA passbook.

For GHQR pensioner, the member must present his pensioner ID while for PNPR Pensioner, accomplished ATD Form and photocopy of PNP Retired ID.

Q: Is there a minimum amount required?
A: Yes, minimum remittance is Php 200.

Q: Can the salary deduction be cancelled?
A: Yes, simply fill out the same form and tick the Stop CC Deduction box in the Type of Request portion of the form.

Q: How do we change the amount being deducted from our salary?
A: Using the same from, tick either the Increase CC Deduction or Reduce CC Deduction box (as applicable), and then indicate the amount to be changed.