Starting January 2025, the Social Security System (SSS) will raise its contribution rate to 15 percent from 14 percent.

The 1 percent increase, while seemingly small, is already significant to members, especially those who are self-employed.

“Mahirap din kasi syempre ang kita namin hindi naman pare-pareho. Kung mahina ang kitaan, hirap na kami magbayad,” Salvador Muyargas, a self-employed worker, said.

Muyargas said the hike could add pressure on those with irregular incomes.

SSS-Dagupan Branch Head, Engr. Primitivo Verania, Jr., explained that the increase is necessary to prevent the pension fund from depleting.

“It is actually one percent lang para mabuo ang 15 percent, so hindi siya malaki kung tutuusin,” he said.

Verenia said the hike will ensure the fund's stability until 2053.

The adjustment also comes with an added benefit: higher contributions will mean better benefits for members.

“Kapag malaki ang contribution, ‘yan ang basis ng computation ng benefits,” Verania added.

Employees earning P25,000 or less will not see a reduction in their take-home pay, as employers will cover the increase.