Rep. Fidel Nograles calls on President Marcos to suspend the scheduled increase in Social Security System (SSS) contribution rates, citing the impact on workers facing a high cost of living.
Rizal 4th district Rep. Fidel Nograles is urging President Marcos to suspend the increase in the Social Security System’s ( SSS ) contribution rate s, citing the need to protect workers burdened with a lower take-home pay. Nograles, chairman of the House Committee on Labor and Employment, joins a growing list of lawmakers calling for the hike’s immediate suspension amid public clamor. “We are calling on President Marcos to suspend the rate increase,” Nograles said in a statement on Wednesday, Jan.
8.“Amid the high cost of living that our countrymen are currently suffering from, this additional charge will be a big blow because it will further reduce their capacity to support their families,” he explained. Beginning January 2025, the SSS is scheduled to increase monthly contribution from its members. From last year’s 14 percent, premiums will now be at 15 percent. With this increase, employer’s share will be at 10 percent, while employees will pay the remaining five percent. This will apply to private sector employees, household employers and domestic workers, self-employed individuals, voluntary members, and land-based overseas Filipino workers (OFWs). The hike in contribution rates aligns with Republic Act (RA) No. 11199, or the Social Security Act of 2019, which mandates the SSS to increase its contribution rate every two years. With this mandated increase, Nograles said the President could order the state-run pension to first make its collection more efficient and effectiv
SSS Contribution Rate President Marcos Fidel Nograles Cost Of Living Workers
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