SSS increases contribution rate to 15% starting Jan 2025

Starting January 2025, the Social Security System (SSS) has increased its contribution rate to 15 percent from the previous 14 percent.

The hike was mandated by Republic Act No. 11199 or the Social Security Act of 2018 and aims to ensure the sustainability of the pension fund until 2053.

For employees earning P10,000 monthly, this means a contribution of P1,500 shared with their employer, up from P1,400 last year.

Senate Minority Leader Aquilino 'Koko' Pimentel III on Monday backed calls to suspend the scheduled increase in SSS contributions, arguing that it does not lead to increases in members’ benefits and urged the fund to be transparent about bonuses given to its executives.

Gabriela Party List Representative Arlene Brosas criticized the increase, calling it a 'cruel New Year's gift' and suggesting that raising salaries would be better than increasing contributions.

House Assistant Majority Leader Jude Acidre suggested that any calls to suspend the contribution increase should be carefully studied considering the impact on SSS’s actuarial health.