The Social Security System (SSS) will increase its contribution rate by 1% beginning January 15, 2025, bringing the total to 15%. This hike is mandated by the Social Security Act of 2018 and aims to ensure the long-term sustainability of the SSS fund. However, former SSS President Rolando Ledesma Macasaet has urged the government to temporarily suspend the increase, citing the agency's strong financial performance.
STARTING January 2025, the Social Security System will implement a one percent contribution hike for its members and employers.Beginning on January 15, the monthly contribution will be increased to 15 percent, 10 percent will be shouldered by the employers while five percent by the employee members.The increase is in accordance with the provision under Republic Act No. 11199 or the Social Security Act of 2018.
Under the law, SSS should gradually increase the contribution rate by one percentage point every two years until it reaches 15 percent by 2025, from 12 percent in 2019.In a statement, SSS-GSIS Pensyonado Partylist Representative and former SSS President and Chief Executive Officer Rolando Ledesma Macasaet urged Malacañang to direct the temporary suspension of any premium increases, noting the agency’s reported income of over P80 billion in 2023 and a record-breaking P100 billion in 2024.
Social Security System SSS Contribution Republic Act No. 11199 Social Security Act Of 2018
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