Gradual hike in SSS contribution rate under the bicam-approved bill

A bill waiting for the ratification of both houses of Congress and President Rodrigo Duterte's signature will gradually increase the monthly contributions of Social Security System (SSS) members until it reaches the 15-percent cap.

Under the provisions of the proposed SSS law, the contribution rate will increase from the current 11 percent of one's salary to 12 percent in the next two years, 13 percent in 2021 and 2022, 14 percent in 2023, and 15 percent in 2025.

The new minimum and maximum contribution rate/monthly salary credits under the bill will be as follows:

—graphic presentation by Jannielyn Ann Bigtas/KBK, GMA News