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SSS to increase monthly contribution of members

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The Social Security System (SSS) is set to increase the monthly contributions of its members in order to maintain its financial stability.

SSS president Emmanuel Dooc, who was guest during the inauguration of the SSS processing center in Zamboanga City, disclosed the increase of the contribution is around 1.5 percent per year from the worker’s salary which will continue until 2020.

Dooc explained that the surge in the contribution was supposed to take effect this year, however, due to the approved tax reform package of the national government, this was held in abeyance.

According to Dooc, if the collection pushed through, the commission will approximately collect more than P23 billion from its members.

If we truly want to improve and enhance the benefits of our members we need to make our funds robust and strong and one way of doing that aside from enhancing the collection efficiency is to increase the contribution rate,” Dooc emphasized.

March this year, the SSS has increased by P1,000 the monthly pension of its members who have retired and another round of increase will take effect in 2022.

According to Dooc, the SSS is also proposing to give more benefits to its workers such as extending to 120 days the maternity leave and unemployment benefits to workers who lost their jobs.

Aside from intensifying the collection efficiency, he ordered all SSS offices in the country to monitor employers who are not remitting the monthly contributions of their employees.

He said the charter of the Social Security Commission is still pending in the House of Representatives.

It is going to be the policy making body of SSS that would implement changes and other programs of the agency.

He also suggested to make it mandatory that all OFWs should be members of SSS as this will widen the membership and contribution revenue. BND




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