MANILA – The Philippine Social Security System’s higher contribution rates will take effect next month, April. This is in line with the newly enacted Social Security Act of 2018, which President Rodrigo Duterte signed into law last February.
Under the law, the contribution rate will be 12 percent of the monthly salary credit from the previous 11 percent.
The SSS also reminded employers the condonation program for penalties is effective until Sept. 6 this year. The government expects to collect more than P10 billion from that program, which allows delinquent employers to settle their unpaid premiums minus the penalties. (ABS-CBN News)