Tag page - contribution rate

The Social Security System (SSS) posted a record profit of P83.13 billion last year, propelled by robust revenues resulting from the increase in the contribution rate. The private sector employees' pension fund surpassed its 2023 net income target of P51.06 billion by 62.8 percent as well as...

Philippine Health Insurance Corporation (PhilHealth) (MANILA BULLETIN) The Philippine Health Insurance Corporation (PhilHealth) said that the current benefits for its members won't be affected by the suspension of the scheduled increase of its contribution rate this year. "Despite the suspension ay...

The implementation on Jan. 1, 2023 by the Social Security System (SSS) of a one percent increase in its members’ contribution rate to 14 percent is the third step of its four-tier contribution increase. This is in accordance with Republic Act 11199 that was enacted in 2018 to strengthen the...

State-run Social Security System (SSS) said the series of contribution rate increases expanded the pension fund’s life by more than two decades. In a statement on Thursday, Dec. 22, Michael G. Regino, SSS president and chief executive officer, said an additional 22 years have been added to the...

State-run Social Security System (SSS) warned that any delay in implementing the scheduled increase in contribution rate as well as minimum and maximum monthly salary credits (MSCs) could endanger the pension fund. In a statement, Aurora C. Ignacio, SSS president and chief executive, said delayed...