SSS Contribution increase

[maykel]

What's your reaction to this one?

Here is the article:

SSS eyes increase in employee contributions

MANILA, Philippines - Social Security System (SSS), the pension fund for private sector workers, is looking to increase the contribution requirement of employees to 11% from the current 10.4% of gross salary.

SSS said the increase is needed to help expand the benefits of over 29 million members and pensioners.

"When you contribute, this is considered your savings, it will be credited in your name," assured Joel Palacios, SSS spokesman.

SSS contributions are deducted in the monthly salaries of workers. Employers are required by law to pay for a portion of the contributions.

With the increase, the SSS contribution of an employee taking home P15,000 a month will go up to P501.50, while the share of his employer will now be P1,603.18 compared to the previous P1,060.

Businesses are already bracing themselves for the planned SSS move as they face similar increases in contributions for Pag-IBIG and Philhealth.

"May similar request ang mga provident funds, baka mag-stampede kung humingi rin yung iba," said Ed Lacson, president of the Employers' Confederation of the Philippines.

Lacson said a looming wage hike will also not help their finances.

Workers have been clamoring for an increase in pay to help them cope with rising costs of basic goods and services.

President Aquino said he has instructed his economic team to study possible cash or non-cash assistance to cushion the impact of rising food and fuel prices.

"Any and all avenues, yung true solutions... are being explored. I tasked them to give me the outcome as soon as possible," he said.

But the Palace thumbed down calls to reduce the value-added tax (VAT), saying this has no clear benefits.

[joshgroban]

maawa naman sila sa mamamayang pilipino lalo na yaong mga mahihirap na halos nagkakasya lang sa regular wages

[angelo]

well kung tutuusin yung employee naman ang mag benefit dapat diyan for pension later on.
yun nga lang sa kalagayan ng Pilipinas ngayon, mahirap na magkaroon ng mga dagdag gastos na hindi mo ma-realize/ actualize in the present.

[joshgroban]

ang point lang kasi...di mo naman talaga makita ang justification ng pag iincrease...parang mrt rin nalulugi daw pero halos pumutok na nga ang mga pasahero

[angelo]

^ magkaiba naman iyon. ito ay parang forced savings mo, para later on in life when you finally decide to retire, may pera kang matatanggap kahit na hindi ka na nagta-trabaho.

beneficial din naman ito kasi once you lose your job, they can compensate you for a at least 2 months to allow you to look for a new one. yung mrt naman, may choice ka. kung ayaw mo doon, then there are other modes of transportation.

OFF TOPIC: on MRT
mawawala lang sa topic pero hindi na dapat i-justify ang increase sa MRT. when it started, 40-45 naman ang pamasahe sa mrt. walang sumasakay kasi 1 - mahal. 2 - not accessible stations 3 - walang escalator/elevator to service the elderly/preggy and the general public. sa tingin ko lahat naman yan ginawan ng paraan. 1 - nag subsidize ang gobyerno. 2 - may mga connections na ngayon with malls and other establishments na hindi na kailangan bumaba sa kalye 3 - lahat ng station ngayon may escalator or elevator na para hindi na kaialngan umakyat ng pagkataas na hagdan.

hindi ko lang alam kung tama talaga ako, pero i think there is enough merit to increase the fare. wala naman tayong magagawa at epekto talaga ng inflation yan.