The Social Security System (SSS), the state-run pension fund, has implemented a higher members’ contribution rate of 14%, up from 13% the previous year.
This rise in the contribution rate is part of a series of increases initiated by the enactment of Republic Act 11199, or the Social Security Act of 2018. Under RA 11199, the contribution rate is scheduled to increase every two years from 2019 to 2025:
| Year | Contribution rate |
| 2019 | 12% |
| 2020 | 12% |
| 2021 | 13% |
| 2022 | 13% |
| 2023 | 14% |
| 2024 | 14% |
| 2025 | 15% |
The table below reflects the new contributions for social security, the Employees' Compensation, and the mandatory provident fund Workers’ Investment and Saving Program (WISP), based on the announcement from SSS:
For inquiries, please contact Crew and Family Affairs at cfa@odfjell.com.
