The Social Security System (SSS) explained the reason behind the planned contribution rate hike, a move that is backed by no less than the President of the Republic, Pres. Aquino. SSS President and CEO Emilio de Quiros said on Friday that the proposed 0.6% increase in contributions would help ensure the pension fund’s viability.
The SSS top official explained the pension fund has seen “unfunded liabilities” increase through the year’s as a member’s benefits continue to surp(–foul word(s) removed–) his contributions.
Emilio de Quiros was quoted as saying that, “For every P1 [contribution], ang kapalit niyan e P6 na benepisyo… makikita mo agad ang imbalance… ‘Yun ang nag-cre-create ng tinatawag nating unfunded liabilities,” de Quiros told ABS-CBN.
The President of the Philippines revealed earlier that a total of P1.1 billion unfunded liabilities incurred by the agency was true but he (–foul word(s) removed–)ured that the agency is also doing what it can to further expand its resources in order to support its members.
According to de Quiros the SSS made some measures to increase the gap, for the last three years, they have generated about 10% to their (–foul word(s) removed–)et base. The SSS also generates additional income from pouring funds into equities and fixed-income (–foul word(s) removed–)ets.
3 thoughts on “Reasons of SSS Contribution Hike Explained”
sir madam. 7 years poh akong nag trabaho sa manor shoes poh dito poh jesus dela pena malbar st marikina city nakapag loan poh ako 3 poh kami lagi poh nila kaming inaawasan kada suweldo poh namin kahit poh walang matira sa amin sa mga kasama natapos ung poh sa akin hindi poh niya tinapos bigla poh siyang nag patigil ng gawa 1997 poh wala man lang pong binigay sa amen sa loob 7 taon na pag gawa ko sa kanila ok. lang poh sana sa ken ang problema ko lang poh ang lake na ng penalty ng loan ko poh sana poh matulungan poh ninyo ako hindi ko na poh kayang bayaran nakikilabas lang poh ako ng tricycle gusto ko poh sanang ituloy uli ung sss ko poh kahit na voluntary maraming salamat poh bonifacio dula poh ng marikina city #38 sheef paliparan sto nino.
tanung ko lang po kong nahologan poh ng companya ko ang sss ko kc po nag resign na po ako dn eh?
good day po uhm 23months na po yung contribution ko sa sss tanong ko lng po kung pwde po ba ako mag contribute ng 13month sa isang biglaan lang para po makumpleto ko na po yung 36month for loan sa sss?