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
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
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 #Distancing #TakePicturesVideosturesVideos
July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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