This news has been released early in May or
June of this year but was finally announced and confirmed last October 2013.
It is confirmed that a 0.6 percent hike in
SSS contribution will take effect in the coming year. Starting January 2014 the
employee will have a share of 3.63% in the contribution and the employer with a
share of 7.37%. The monthly salary credit or MSC will increase to PHP 16,000.00
per month.
Such increase in payment or contribution
will result to increase in benefits. The maternity benefit is one example. Since
the monthly salary credit increases as the contribution increases, then that
will result to a higher computation of the said benefit. The maternity is being
computed based on the monthly salary credit.
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