Pamunuan ng SSS, dinepensahan ang pagtataas sa 15% ng kontribusyon ng mga miyembro | Saksi

Summary

The Social Security System (SSS) defends its decision to increase the contribution rate starting this January, from 14% to a higher percentage. Additionally, the minimum monthly salary credit (MSC) will rise from Php 4,000 to Php 5,000. SSS emphasizes that this increase, mandated by the Social Security Act of 2018, will boost their collections by over Php 51 billion for the year. These funds will support vital programs, including calamity loans. Despite opposition, SSS warns that suspending the rate hike could harm essential services for its beneficiaries.

Takeaways

• 😀 The Social Security System (SSS) is implementing a contribution rate hike starting this January.
• 😀 The contribution rate will increase from 14% to a higher percentage under the new policy.
• 😀 The minimum monthly salary credit (MSC) will also rise from Php 4,000 to Php 5,000.
• 😀 The hike in contribution rates is mandated by the Social Security Act of 2018.
• 😀 Some sectors are protesting the rate hike, requesting its suspension.
• 😀 SSS argues that suspending the increase could significantly affect their financial targets.
• 😀 The additional funds generated by the hike are expected to amount to over Php 51 billion this year.
• 😀 The increased funds will support various SSS programs, including calamity loans for affected members.
• 😀 SSS emphasizes that the contribution rate hike is necessary to maintain and improve services for members.
• 😀 The SSS is responding to criticisms by stressing the long-term benefits of the increased funds.
• 😀 The increase in contributions and MSC is seen as crucial for the sustainability of the SSS system.

Q & A

What is the recent change in the SSS contribution rate?

The SSS contribution rate will increase from 14% to a higher rate in January. The exact percentage is not mentioned, but the increase is part of a planned series of hikes.

What will be the minimum monthly salary credit (MSC) under the new SSS policy?

The new minimum MSC will be Php 5,000, up from the previous amount of Php 4,000.

Why are some people opposing the SSS contribution rate hike?

Opponents are asking for the suspension of the contribution rate hike due to concerns over its impact, especially on members who may be financially burdened by the increase.

How does the increase in the SSS contribution rate affect the SSS’s collection?

The contribution rate hike is expected to increase SSS's collection by more than Php 51 billion this year.

What is the purpose of the additional funds raised by the SSS contribution increase?

The additional funds will help support various programs of the SSS, including calamity loans for affected members.

What law mandates the contribution rate hikes for SSS?

The rate hikes are in accordance with the mandate of the Social Security Act of 2018.

What would happen if the planned contribution increase were suspended?

Suspending the contribution increase would significantly impact the SSS, as they would lose a substantial portion of the funds that are expected to add over Php 51 billion to their collection.

When is the contribution rate hike scheduled to take effect?

The contribution rate hike is scheduled to take effect in January.

What is the role of the SSS in the Philippines?

The SSS provides social security benefits to Filipino workers, including financial support during times of calamity, disability, retirement, and death.

What is the significance of the calamity loan program mentioned in the transcript?

The calamity loan program is one of the key benefits supported by the increased funds from the SSS contribution hike, providing financial aid to members affected by natural disasters.