Philippine government confirms Social Security System contribution hike will proceed as planned

The Philippine government will not delay the Social Security System's (SSS) planned contribution increase, which starts in January 2025. The increase is based on thorough studies and aims to ensure the fund's long-term viability. The new contribution rate will rise to 15 percent, with the minimum monthly salary credit increasing to P5,000. This is the final phase of increases mandated by the 2019 Social Security Act. SSS officials state that the changes will generate an additional P51.5 billion this year, helping the fund support members during emergencies. The Palace will consider requests to postpone the increase if they are formally presented.