SSS to implement higher contribution rates next month

ABS-CBN News

Posted at Mar 25 2019 05:05 PM

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The Philippine Social Security System's higher contribution rates will take effect next month. This is in line with the newly enacted Social Security Act of 2018, which President Duterte signed into law last February.

Under the law, the contribution rate will be 12 percent of the monthly salary credit from the previous 11 percent.

The SSS also reminded employers the condonation program for penalties is effective until September 6 this year. The government expects to collect more than P10 billion from that program, which allows delinquent employers to settle their unpaid premiums minus the penalties.

ANC Market Edge, March 25, 2019