Video courtesy of PTV

Malacañang said on Thursday it would decide as soon as possible on calls to hold off an increase in the rate of contributions to the Social Security System.

Some of the country’s largest business and labor groups urged President Rodrigo Duterte on Wednesday to issue an executive order to defer the hike as the COVID-19 pandemic lingered.

"Pinag-aaralan po ngayon ‘yan ng Office of the President. Mayroon na pong sinubmit na rekomendasyon ang SSS," said Duterte's spokesman Harry Roque.

(The Office of the President is studying that. The SSS has submitted a recommendation.)

"Pero ang tinitingnan po natin, iyong financial viability ng SSS at the same time iyong kahinaan ng negosyo at ng hanapbuhay sa kabila po ng pandemya. Asahan po natin ang desisyon sa lalong mabilis na panahon," he said in a press briefing.

(But what we are looking at is the financial viability of the SSS and at the same time, the weakness of businesses and livelihood because of the pandemic. Let us expect the decision as soon as possible.)

Last May, President Rodrigo Duterte signed a law giving him authority to defer the scheduled increase in SSS premium contributions for the duration of the declaration of state of calamity due to the health crisis.

“However, four months after the enactment of the law, the Executive Order implementing the Act has yet to be issued, even as the higher SSS premium already took effect last January 2021,” several business and labor groups said in a joint statement.

SSS members’ monthly contributions were increased to 13 percent from 12 percent of their incomes at the start of the year.

SSS said the rate increase will secure the long-term viability of the pension fund, and expand coverage and benefits for members and their beneficiaries.

• Business, labor groups urge Malacañang to release EO deferring SSS contribution hike