Senator Risa Hontiveros calls for a postponement of the planned increase in Social Security System (SSS) contributions, citing its potential to further burden Filipino workers already facing economic hardships due to rising prices. She filed a resolution seeking a Senate investigation into the matter.
Senator Risa Hontiveros , Deputy Minority Leader in the Senate, has called on the Social Security System (SSS) to postpone the planned increase in members' contributions. Hontiveros expressed concerns that the hike could further reduce already strained worker wages in the face of soaring prices. She filed a Proposed Senate Resolution No. 1269, requesting a Senate investigation into the impending increase.
\Hontiveros argued that the timing of the adjustment is inappropriate, especially considering the ongoing financial difficulties experienced by many Filipinos. She pointed out that while workers' earnings have been losing value over time, the SSS's investment earnings have steadily grown. The senator highlighted the SSS's reported net income of ₱100 billion in 2024, coupled with a nearly 30% increase in contributors and an extended fund life until 2053. \She emphasized that these figures indicate the SSS's ability to delay the contribution hike for the present. Hontiveros warned that proceeding with the increase this year could exacerbate the financial burden on ordinary wage earners and segments of the middle class. She noted that many citizens still lack savings due to the pandemic and that inflation has further devalued their earnings. The senator urged the SSS not to diminish their already limited take-home pay with this contribution increase. She also stressed that the contribution hike was approved in 2018, before the COVID-19 pandemic and its enduring economic consequences. Hontiveros called for a thorough assessment of the SSS contribution hike to achieve a balance between the interests of ordinary workers and the actuarial life of the state insurer. She appealed for a postponement of the increase while its necessity is reassessed, emphasizing the SSS's role as a lifeline during times of need, rather than an added financial strain on its members. Meanwhile, Malacañang has expressed its support for the scheduled SSS contribution hike, stating that the adjustment will proceed after extensive long-term planning and actuarial studies were undertaken. Executive Secretary Lucas Bersamin acknowledged the concerns but underscored that Malacañang had not received a formal request to review the increase. He emphasized the need to trust the expertise of the SSS's respected actuary and stressed that adjustments cannot be arbitrarily halted
SSS Contribution Hike Economy Inflation Workers Senator Risa Hontiveros
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