QUEZON CITY, Philippines (Eagle News) — The Social Security System (SSS) is planning to increase the monthly contributions of its members starting April.
According to SSS, the proposed monthly contribution hike–from the current 11 percent to 14 percent—aims to prolong the state pension fund’s life until 2044.
“Our prayer is to get this approved by the President and for us to also get it approved by the (Social Security) Commission so we can implement it starting April,” SSS president and chief executive officer Emmanuel Dooc said in an interview.