Tag: Social Security Act of 2018
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SSS clarifies 1% contribution rate hike, bares plans for 2025
The Social Security System (SSS) announced that it is implementing a 1% contribution rate hike starting January 2025 to bring the contribution rate to 15% from the previous 14%, pursuant to the provisions of Republic Act (RA) No. 11199 or the Social Security Act of 2018. This is accompanied also by increases in the minimum…
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SSS unveils saving schemes with 7.2% returns to boost members’ retirement fund
The Social Security System (SSS) today announced that its members can boost their retirement and savings through the MySSS Pension Booster program, which offers a projected . SSS President and Chief Executive Officer Rolando Ledesma Macasaet said that SSS renamed the Worker’s Investment and Savings Program (WISP) and WISP Plus into the MySSS Pension Booster…
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SSS holds employers accountable for unregistered business, unremitted contributions
BULACAN – Social Security System (SSS) Vice President for Luzon Central 2 Division Gloria Corazon M. Andrada spearheaded the Run After Contribution Evaders (RACE) campaign to enforce employers’ compliance under Republic Act 11199 or Social Security Act of 2018. Andrada said that show cause orders were issued to six delinquent establishments due to non-registration of…
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SSS contribution hike to beef up benefit payments for members
The Social Security System (SSS) said that the 2023 contribution increase would help fund higher benefit disbursements to its members. SSS President and Chief Executive Officer Michael G. Regino explained that the four-stage contribution rate hike readies the SSS fund for the future needs of its members. Starting January 1, 2023, the new contribution rate…
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