{"id":386,"date":"2019-04-04T09:53:23","date_gmt":"2019-04-04T01:53:23","guid":{"rendered":"http:\/\/scp-ph.com\/blogsite\/?p=386"},"modified":"2019-04-04T09:53:27","modified_gmt":"2019-04-04T01:53:27","slug":"impact-of-sss-hike-contribution","status":"publish","type":"post","link":"https:\/\/scp-ph.com\/blogsite\/?p=386","title":{"rendered":"Impact of SSS Hike Contribution"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" loading=\"lazy\" width=\"1000\" height=\"600\" src=\"https:\/\/scp-ph.com\/blogsite\/wp-content\/uploads\/2019\/04\/PageOne-0111-SSS-1.png\" alt=\"\" class=\"wp-image-390\" srcset=\"https:\/\/scp-ph.com\/blogsite\/wp-content\/uploads\/2019\/04\/PageOne-0111-SSS-1.png 1000w, https:\/\/scp-ph.com\/blogsite\/wp-content\/uploads\/2019\/04\/PageOne-0111-SSS-1-300x180.png 300w, https:\/\/scp-ph.com\/blogsite\/wp-content\/uploads\/2019\/04\/PageOne-0111-SSS-1-768x461.png 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/figure>\n\n\n\n<p>The hike in the Social Security System contribution is\nset to rise up to 12%. This will likely be implemented by April or May this\nyear. <\/p>\n\n\n\n<p>The current contribution rate stands at 11 percent.\nTwo-thirds of the contribution rate increase will be shouldered by the\nemployer. <\/p>\n\n\n\n<p>Increase in the SSS contribution has gathered different\nfeedbacks from the citizens. Some said that it is \u201cthe last thing SSS should be\ndoing\u201d while others approve of the SSS Hike Contribution. <\/p>\n\n\n\n<p>Under RA 11199, the SSC now has the power to raise\ncontribution rates even without the President\u2019s approval, although the law also\nmandated a 1-percentage point increase in the contribution rate every two\nyears, until it reaches 15 percent, starting this year. <\/p>\n\n\n\n<p>With the Bayan Mun Chairman and former congressman\nNeri Colmenares, the SSS hike contribution does not sit well, \u201cThis is\nmisleading because not all workers would have increased take home pay because\nof the TRAIN. In fact, majority of workers would still have the same wages but\nwill have added expenses due to the TRAIN. <\/p>\n\n\n\n<p>He also said that everybody will surely oppose this\nincluding employers, the labor sectors, and the SSS members. <\/p>\n\n\n\n<p>If the SSS does its job well and begin improving its\ncollection efficiency and maximizing income from investments, there may not\neven be a need for an increase in contributions, Colmenares said.<\/p>\n\n\n\n<p>For households with just a single earner, this\npropaganda could help but not by much. It remains a big question if SSS members\nwill agree to this.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" loading=\"lazy\" width=\"658\" height=\"970\" src=\"https:\/\/scp-ph.com\/blogsite\/wp-content\/uploads\/2019\/04\/SSS-rates-infographic-4.jpg\" alt=\"\" class=\"wp-image-396\" srcset=\"https:\/\/scp-ph.com\/blogsite\/wp-content\/uploads\/2019\/04\/SSS-rates-infographic-4.jpg 658w, https:\/\/scp-ph.com\/blogsite\/wp-content\/uploads\/2019\/04\/SSS-rates-infographic-4-204x300.jpg 204w\" sizes=\"(max-width: 658px) 100vw, 658px\" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>The hike in the Social Security System contribution is set to rise up to 12%. This will likely be implemented by April or May this year. The current contribution rate &#8230;<\/p>\n","protected":false},"author":7,"featured_media":387,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0},"categories":[3,5],"tags":[],"_links":{"self":[{"href":"https:\/\/scp-ph.com\/blogsite\/index.php?rest_route=\/wp\/v2\/posts\/386"}],"collection":[{"href":"https:\/\/scp-ph.com\/blogsite\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/scp-ph.com\/blogsite\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/scp-ph.com\/blogsite\/index.php?rest_route=\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/scp-ph.com\/blogsite\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=386"}],"version-history":[{"count":4,"href":"https:\/\/scp-ph.com\/blogsite\/index.php?rest_route=\/wp\/v2\/posts\/386\/revisions"}],"predecessor-version":[{"id":397,"href":"https:\/\/scp-ph.com\/blogsite\/index.php?rest_route=\/wp\/v2\/posts\/386\/revisions\/397"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/scp-ph.com\/blogsite\/index.php?rest_route=\/wp\/v2\/media\/387"}],"wp:attachment":[{"href":"https:\/\/scp-ph.com\/blogsite\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/scp-ph.com\/blogsite\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/scp-ph.com\/blogsite\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}