After two government-controlled funds deferred their contribution rate increases for 2023, House Deputy Minority leader and ACT Teachers Party-list Rep. France Castro called on SSS to likewise suspend its planned contribution increase for this year.
After two government-controlled funds deferred their contribution rate increases for 2023, House Deputy Minority leader and ACT Teachers Party-list Rep. France Castro on Saturday, Jan. 7, called on the Social Security System to likewise suspend its planned contribution increase for this year.
“We hope that the SSS board would also heed our call and defer their premium increase. They should help our countrymen now when they most need it and not in a future date that they may not even reach because of today’s crises,” the lawmaker said in a statement after the pension fund earlier claimed that the planned contribution hike would help fund higher benefit disbursements.
Castro stressed that Filipinos’ lives are more important than the life of any government fund after the SSS said that its scheduled contribution rate hike to 14 percent from 13 percent this year would result in a 22-year extension of the fund’s life. On Saturday, she also lauded Pag-IBIG for choosing to defer the scheduled monthly premium hike for the third time.
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