The Social Security System (SSS) said today it has started implementing the provisions of the Republic Act of RA 11199 or the Social Security Act of 2018, which mandated a contribution hike to ensure the financial viability of the state pension fund for private sector workers. SSS President and Chief Executive Officer Rolando Ledesma Macasaet said the law-mandated contribution increase would translate to immediate benefits to the country’s 13 million workers and will ensure the viability of the SSS fund designed to provide them with social security protection. The request of the employers’ groups was opposed by SSS officials as postponing the measure would reduce the actuarial life of the fund. The SSS said they gave due consideration to the plight of small employers in past contribution hikes, but ultimately had to act in favor of workers’ interests and the fund’s long-term solvency. I am appealing to the PCCI, the ECOP, and the PECI, who we consider our valuable partners in our mission to provide social protection to our workers, to treat the contribution hike not as another operational expense but as a noble investment to ensure the viability of the workers’ pension fund,” Macasaet said. Read more in our articles including "SSS to increase Contributions to 14% this January 2023" and "SSS ID: How to Apply and Get an SSS ID?".
The Social Security contribution rate of 14% will be implemented starting this calendar year 2023.…
Jan 20, 2023Applying for and getting an SSS ID ( Social Security System ID Card) can be…
Jun 11, 2009A computer glitch in the Social Security System (SSS) has wiped out the records of…
Aug 12, 2016The Court of Appeals has placed a TRO (temporary restraining order) on the demand of…
Aug 24, 2014SSS Online Inquiry is a service by the Social Security System of the Philippines that…
Jun 11, 2009SSS Philippines, the Social Security System (SSS) of the Philippines. The Policy of SSS Philippines:…
Jun 10, 2009The Social Security System (SSS) said today it has started implementing the provisions of the Republic Act of RA 11199 or the Social Security Act of 2018, which mandated a contribution hike to ensure the financial viability of the state pension fund for private sector workers. SSS President and Chief Executive Officer Rolando Ledesma Macasaet said the law-mandated contribution increase would translate to immediate benefits to the country’s 13 million workers and will ensure the viability of the SSS fund designed to provide them with social security protection.
The request of the employers’ groups was opposed by SSS officials as postponing the measure would reduce the actuarial life of the fund. The SSS said they gave due consideration to the plight of small employers in past contribution hikes, but ultimately had to act in favor of workers’ interests and the fund’s long-term solvency. I am appealing to the PCCI, the ECOP, and the PECI, who we consider our valuable partners in our mission to provide social protection to our workers, to treat the contribution hike not as another operational expense but as a noble investment to ensure the viability of the workers’ pension fund,” Macasaet said.
Our coverage of sss pension fund includes: "SSS to increase Contributions to 14% this January 2023"; "SSS ID: How to Apply and Get an SSS ID?"; "SSS computer glitch wipes out contributions of members". Each article provides unique insights and information.