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Saturday, January 4, 2014

SSS Contribution Table Effective This January 2014

The Social Security System has issued Memorandum Circular 2013-010 and already released the SSS Contribution Table to be effective on January 1, 2014. SSS members will follow the updated contribution table after the approved 0.6-percentage-point increase in member contributions to be paid for by employers and their workers.

The table below shows the new SSS contribution table of All Ermployers, Employees, Self-employed, Voluntary & OFW Members -- SSS Contribution Table 2014 (Click Here to View the PDF)

With the recent increase in SSS monthly contributions, SSS President Emilio de Quiros said that they plan to hike the monthly salary credit ceiling from P15,000 to P16,000. Also, pension will also go up to more than P13,000 from the current P12,000 and burial benefit of deceased members to P30,000 or P40,000 from the current P20,000.