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para manalo SSS: Contribution, monthly salary credit hike to yield P51.5B in 2025
MANILA, Philippines — The Social Security System (SSS) on Tuesday said that its latest contribution rate hike and increase in the Monthly Salary Credit (MSC) will enhance members’ benefits and boost collections.
Starting January 2025, the SSS contribution rate increased to 15 percent, up from 14 percent in 2024. This marks the final tranche of hikes under Republic Act (RA) No. 11199, which began in 2019.
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Article continues after this advertisementREAD: SSS to hike contribution rate to 12% in 2019
FEATURED STORIES BUSINESS John Hay on lockdown as BCDA takes over BUSINESS BIZ BUZZ: Business as usual in Baguio–MVP BUSINESS Agriculture Undersectary Deogracias Savellano dies at age 65The SSS added that its minimum MSC was raised to P5,000, while the maximum MSC is now set at P35,000.
In a statement, SSS President and Chief Executive Officer Robert Joseph De Claro said these adjustments are expected to generate an additional P51.5 billion in collections for 2025.
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Of this amount, 35 percent, or P18.3 billion, will be allocated to the Mandatory Provident Fund (MPF), a supplementary savings account for private sector workers and other individual members.
Article continues after this advertisement“Such additional collection amount also enables SSS to support national government in times of difficulty, particularly as regards granting calamity loans,” De Claro further explained.
He noted that in 2024, the agency released P9.7 billion in calamity loans to more than 500,000 members affected by disasters.
dancing drums Article continues after this advertisementDe Claro added that the contribution and MSC hikes are “among the most important reforms under Republic Act No. 11199” to secure the long-term sustainability of the SSS fund.
“With this last tranche of contribution rate and MSC increases, the SSS fund is projected to last until 2053—doubling the fund life to 28 years,” De Claro emphasized.
READ: Labor groups join call to halt SSS premium hike
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This also ensures that the agency can meet its obligations to both current and future members during times of need, De Claro said.
Under RA No. 11199, the SSS contribution rate increased by 1 percent every two years, starting at 12 percent in 2019 and culminating at 15 percent in 2025.
As of January 2025para manalo, the employer’s share now stands at 10 percent, while the employee’s contribution is at five percent.
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