by Ben O. de Vera, Philippine Daily Inquirer, Feb 17, 2019
President Rodrigo Duterte has signed the Social Security System (SSS) Rationalization Act to allow the SSS to improve its investing capacity and generate more revenue for members and pensioners.
It provided for a gradual increase in monthly contributions to make it 15 percent by 2025 from the current 11 percent.
It also allowed the gradual adjustment of minimum and maximum monthly salary credits.
The increased contributions would start this year.
SSS president and chief executive Emmanuel F. Dooc said the additional collection would replenish the SSS fund in six years.
Dooc said the SSS would immediately craft the law’s implementing rules and regulations.
The new law provided that the Social Security Commission, the highest policy-making body of the SSS, may collect the higher contributions without the President’s approval.
At least two-thirds of the contribution rate increase would be shouldered by the employer.
With higher contributions, the SSS fund would be extended until 2038. This meant members and pensioners can enjoy benefits for 20 more years.
The SSS fund life was slashed by 10 years when an additional P1,000 in monthly pension was given starting in 2017.
Dooc said the new law “will strengthen our fund life.” —With a report from Julie M. Aurelio
Sept 5 – Oct 5
National Teachers Month
“Pay teachers decent wages,
Pay attention to teachers!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
September
Monthly Observances:
Health, Safety, and Sanitation Month
Clean-up Month
Civil Service Month
National Peace Consciousness Month
Social Security Month
Rule of Law Month
National Teachers’ Month (Sept 5-Oct 5)
Weekly Observances:
Sept 17 – 23:
World Clean and Green Week
Week 2: Education Week
Week 4: Medicine Week
Last Week: Family Week
Daily Observances:
Third Saturday: International Coastal Clean-up Day
Third Monday: World Health Day
Last Friday: National Maritime Day
Sept 8: National Literacy Day
Sept 15: Philippine Medicine Day
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
