SSS chief urges suspension of 15% contribution hike

Former Social Security System (SSS) chief Rolando Macasaet called on Malacañang to postpone the 15% increase in SSS contribution rates that took effect in January 2025.

Macasaet argued that there is a need to review Republic Act 11199, which mandates premium increases every two years until 2025, and urged Malacañang to request the SSS Board to temporarily suspend these increases.

He noted that the SSS reported an income of over PHP80 billion in 2023 and expects PHP100 billion for 2024 without contributing a single centavo to the Maharlika Investment Fund (MIF).

Macasaet suggested that suspending or gradually implementing these increases would ease the financial burden on SSS members without significantly affecting the fund's longevity.

House Assistant Minority Leader and Gabriela Women's Party-list Rep. Arlene Brosas criticized the increase, calling it a 'cruel New Year's gift.'

GMA News Online has reached out to Malacañang for comment.