Senate minority leader Aquilino Pimentel III yesterday called for the immediate suspension of the 15-percent increase in monthly contributions under the Social Security System since its members will not get additional benefits.
Pimentel made the statement amid calls from various sectors urging Malacañang to suspend the 15-percent increase in SSS contribution rates which took effect this month.
“I agree with them. The increase in SSS premium contribution does not lead to increase in members benefits,” Pimentel said in a Viber message to the media.
Based on the SSS contribution table for 2025, minimum wage earners in the National Capital Region with a monthly salary of P16,877.50, must now pay P85 more per month, or P850 from P765 previously.
Starting this January, employers will shoulder 10 percent of the premium payments while employees will bear the remaining 5 percent.
The private sector pension fund must open its books for its members to know the agency’s financial standing, the senator said.
Reports have it that the state-run pension fund registered a P100-billion income in 2024 from more than P80 billion a year earlier.
“SSS should be fully transparent on the bonuses that they give to their bigwigs. The performance of the board, as well as the funds, must be audited and assessed/judged by the members themselves. Hence, the SSS should be fully transparent with their members,” Pimentel added.
Former SSS president and chief executive officer Rolando Ledesma Macasaet earlier called on Malacañang to postpone the 15-percent increase in SSS premiums.
By suspending or gradually implementing the Social Security Act of 2018 would ease the burden on members without affecting the pension fund’s longevity, Macasaet said.
The Social Security Act of 2018 mandated the SSS to implement an increase in contribution rates every two years until 2025.
