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The scheduled increase in the contributions of members and employers of up to 15% under the Social Security System (SSS) has taken effect starting January 2025. The increase in contribution rate was provided under the Republic Act No. 11199, or Social Security Act of 2018.
Under the law, a 1% contribution increase would be imposed on SSS members every two years starting from 12% in 2019 until it reaches 15% in 2025. Starting this month, the employer's share will be 10%, while the employee's contribution is pegged at 5%. To check the updated contribution schedules showing the gradual increase from 2021 to 2025, visit the SSS Contribution Table page here: https://www.
sss.gov.ph/sss-contribution-table/ “These changes are designed to strengthen the Social Security System, at magbigay ng mas magagandang benepisyo at pangmatagalang financial security para sa lahat ng miyembro,” the SSS said in on its website.
(These changes are designed to strengthen the Social Security System, and provide better benefits and long-term financial security for all members.) House Assistant Minority Leader and Gabriela Women's Party-list Rep. Arlene Brosas on Friday cried foul over the SSS contribution rate increase, which she described as a "cruel New Year's gift.
" "This is the government's buena mano for 2025 - another round of burden for our workers. Sa halip na dagdag sahod, dagdag kaltas ang ibinigay sa mga manggagawa," Brosas said. (Instead of higher wages, our workers will get additional salary deductions.
) Back in 2022 , the SSS said that the higher member and employer contributions have resulted in an extension of the fund life until 2054. The fund life was originally expected to last until 2032, following the P1,000 increase in pension benefits implemented in 2017. —RF, GMA Integrated News.
