Amid Questions, Malacañang Looks Forward To Results of SSS Member Contribution Rate Hike
Malacañang expressed support on the increase of the Social Security System or SSS members’ contribution rate to 15% this 2025.
Millions of Filipinos are members of the Social Security System or more popularly called SSS. It is a state run social insurance giant that operates in the Philippines for decades now. Due to its huge member populace, there are also many people who are affected whenever it makes changes on its monthly contributions.
The SSS membership is open for individuals coming from different walks of life although its member populace is mainly composed of the locally-employed Filipinos in the private sector. The SSS membership is open for the following:
- Employee
- Employer (Business or Household Employer)
- Self-Employed
- Househelper or Kasambahay
- Overseas Filipino Workers (OFW) (land-based and sea-based, except for Filipino permanent migrants, including Filipino immigrants, permanent residents, and naturalized citizens of their host countries, who may be covered on a voluntary basis)
The Social Security System or SSS has loans and several benefit offers crafted to widen the resources of its members. To qualify for these offers, a member must regularly post monthly contribution. Prior to 2025, the social insurance giant has already confirmed that there will be an increase on the SSS member contribution rate.
The announcement of the Social Security System that the members’ monthly contribution rate will be raised from the mandatory contribution of 12 percent in 2019 to 15 percent this year gained different reactions from the members. Recently, Malacañang spoke on the hike set by the SSS.
Based on a report on ABS-CBN News, Malacañang expressed support on increasing the monthly contribution rate of the SSS members. The hike will be the final tranche based on the mandate under the Republic Act No. 11199 or Social Security Act of 2018.
“Ang ganiyang mga increases they are studied based on actuarial information… Mayroon silang pag-aaral tungkol diyan,” Executive Secretary Lucas Bersamin said during a media conference in the Palace.
Bersamin further expressed that if Malacañang will continue to interfere on the affairs of the Social Security Security which is the specialty of the SSS, “it will not work”. Based on the report, the Palace is supporting the move of the social insurance giant as it looks forward to results.
“Pabayaan na natin muna… Why don’t we just let that process continue and let it produce results,” the Executive Secretary said.