Effective April 2019, the monthly SSS contribution will be increased. One of the reasons for this increase is to extend the fund life until the year 2045.
But this will not be the only time that SSS will increase its rate. There will be a 1% increase in the year 2021, 2023, and 2025. If you are asking why this is done, it is because of the Php1,000 pension hike that was implemented in 2017.
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Now, depending on the state of the economy in the coming years. We may or may not have further increase to our SSS Monthly Employee Contribution. In the meantime, let us tackle the 2019 contribution increase. I will only cover the employee side if you are self-employed, or an OFW – refer to the SSS.gov.ph website circulars.
The Old Social Security System Contribution table – effective until March 2019
The new Social Security System Contribution table – effective April 2019
OLD vs NEW contribution comparison table
Based on the comparison table above, there is a 9% increase in the contribution amount for the specified salary range. The only exception is the ceiling contribution which is Php581.30 in the old table and Php800 in the new mandate. That is around 27% increase. Given this SSS increase, it is only a matter of time where PhilHealth and HDMF (Pag-ibig) will follow suit.
Though it is very easy enough to know your monthly contribution by just looking at the table, I still created a calculator to automate the process. Click SSS Monthly Contribution Calculator for Employees.
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