As mentioned in the last SONA (the 4th
one ever ) by the President of the Philippines, Noynoy Aquino held last July
22, 2013, there is a need to increase the SSS contribution to help in the
reduction of unfunded liability.
Consequently, if the contribution of the
members will increase, the pension scheme will have to be amended too.
The hike which was said to be around 0.6% was
approved in principle by the Social Security Commission last March 16, 2013.
The matter is still under study and debate awaiting for further approval and implementation. Will post an update once fully approved.
The matter is still under study and debate awaiting for further approval and implementation. Will post an update once fully approved.
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