Senate resolution seeks probe, postponement of SSS contribution hike

An investigation into the latest increase in the contribution rates of the Social Security System and its effects on working Filipinos is being sought in the Senate.

Deputy Minority Leader Risa Hontiveros has filed proposed Senate Resolution 1269, noting the need for a deferment of the premium contribution hike.

"The SSS, given its current financial position, is apparently capable of deferring the increase, with the National Government perhaps stepping in to provide funds to [meet] the pension system's expenses," Hontiveros wrote in the resolution.

"A deferment of the increase by a few months--or even a year-- may nevertheless not be sufficient given the current economic conditions, which demand a more comprehensive and long-term solution to ensure the SSS remains a 'life raft' for Filipinos in times of need, emphasizing the need for a deeper examination of the factors impacting the affordability of SSS contributions, and the potential negative consequences of imposing additional financial burdens on workers," she added.

In her resolution, Hontiveros noted the latest Social Weather Stations' survey which showed that 63% of Filipinos considered themselves as poor in the last quarter of 2024.

During the same period, the lawmaker said the SSS reported a record investment earning with a net income of over P100 billion in 2024.

In a statement, Hontiveros asked where will the SSS use these "super profits?"

"Baka magulat na lang tayo at ilagay nila ‘yan sa Maharlika Fund,” Hontiveros said.

(We might be surprised later on that these are already in the Maharlika Fund.)

"Huwag muna nating ipatupad ang SSS contribution hike habang pinag-aaralan natin ito ulit. Manatili sanang salbabida ang SSS sa mga panahon ng pangangailangan, imbes na lalo pang magpalubog sa mga miyembro nito,” she said.

(Let us not implement the SSS contribution hike while we are studying this. I hope that SSS will remain a lifesaver for Filipinos in times of crisis, and not a burden that will further drown them.)

The SSS earlier defended the contribution hike, saying this would be the last tranche of increases which doubled the fund life to 28 years moving forward.

Under Republic 11199 or the Social Security Act of 2018, the SSS is scheduled to raise the contribution rate to 15% from 14% previously. It will also increase the minimum monthly salary credit (MSC) to P5,000 from P4,000, and the maximum MSC to P35,000 from P30,000. — RSJ, GMA Integrated News