On October 8, 2013 (Tuesday), www.sss.gov.ph, the official website of The Republic of the Philippines’ Social Security System (SSS) has released the officially new SSS Contribution Table that shall be effective starting January 2014.
Beginning January 2014, the additional 0.6% in the contribution rate shall be shouldered EQUALLY by the Employer (ER) and Employee (EE) who shall pay at 7.37% and 3.63%, respectively. On the other hand, Overseas Filipino Workers (OFWs), Self-Employed (SE), and Voluntary Members (VM) shall pay at the total rate of 11%.
Below is the New 2014 SSS Contribution Table (click on the image to enlarge):
Below is the Summary of SSS Benefits (click on the image to enlarge):
Susie Bugante, the SSS public information chief, stated that SSS members ought to think of this new SSS contribution rates, albeit higher than before, as “savings” rather than additional expense.
Due to the fact that the creditable monthly salary is increased to 16,000php, the Sickness, Maternity, Retirement, and other benefits will also increase.
For instance, from the previous 30,000php maternal benefit for normal delivery, it shall now go up to 32,000php based on the new SSS contribution table. For Caesarean delivery, the previous maternity benefit of 36,000php shall increase up to 38,400php. For the Sickness benefit, it shall increase from 450php per day to 480php per day.
In case you would like to have a copy of the new SSS contribution table seen above, simply click on the link below and hit Save.
What do you think of the new SSS Contribution Table? Will it be more beneficial for SSS members? Please feel free to comment!