SSS benefit hike needs study, employers say | ABS-CBN
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SSS benefit hike needs study, employers say
SSS benefit hike needs study, employers say
ABS-CBN News
Published Jan 10, 2017 05:46 PM PHT
MANILA - Any increase in benefits for Social Security System members should be studied thoroughly, an employers' group said Tuesday.
MANILA - Any increase in benefits for Social Security System members should be studied thoroughly, an employers' group said Tuesday.
President Rodrigo Duterte has approved a P2,000 increase in SSS pension, which will be funded through an increase in contributions.
President Rodrigo Duterte has approved a P2,000 increase in SSS pension, which will be funded through an increase in contributions.
"We support the president but we should not be increasing benefits without study," Employers Confederation of the Philippines chairman emeritus Donald Dee said in a statement
"We support the president but we should not be increasing benefits without study," Employers Confederation of the Philippines chairman emeritus Donald Dee said in a statement
"Our cost per employee is already higher than employees in the region," he added.
"Our cost per employee is already higher than employees in the region," he added.
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Raising the contribution rate to 12.5 percent would result in a contribution range of P15 to P740, SSS officials said.
Raising the contribution rate to 12.5 percent would result in a contribution range of P15 to P740, SSS officials said.
The first half of the P2,000 increase will be given by this month or February, with the balance to be paid out by 2022, officials said.
The first half of the P2,000 increase will be given by this month or February, with the balance to be paid out by 2022, officials said.
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