The scheduled 15% increase in Social Security System (SSS) member contributions took effect on January 1, 2025, in accordance with the Social Security Act of 2018 (Republic Act No. 11199).
This increase follows a series of annual adjustments, with the contribution rate gradually rising by 1% every two years, starting from 12% in 2019. As of 2025, the employer’s share will be 10%, while employees will contribute 5%.
SSS said the increase is aimed at strengthening the system and enhancing benefits for members, ensuring long-term financial security.
The SSS also noted that the higher contributions would extend the fund’s life to 2054, up from the original projection of 2032 following the 2017 pension benefit increase.
For those seeking detailed information on the updated contribution rates, the SSS Contribution Table is available on the official SSS website.
Will the SSS now give out the additional P1K in pension for retirees which should have been given several years ago?