The New SSS Contribution Schedule Table

The New SSS Contribution Schedule Table

The Philippine Social Security System (SSS) has released a table of its schedule of contribution that will take effect on January 2014.

Monthly Social Security System (SSS) contributions of at least 30.04 million individual members and 871,642 employers rise to 11 percent from 10.4 percent effective January 2014, the SSS said as it posted the new contribution schedule on its website. 

 

The 0.6 percent increase translates to a total contribution of P285 for an employee whose monthly compensation is from P2,250 to P2,749. Employee's share in the P285 is P90.80 while the employer chips in P194.20. Domestic helpers' minimum monthly wage in Metro Manila is P2,500.

 

According to the new contribution schedule, a slightly lower rate applies for the self-employed, voluntary members and members who are overseas Filipino workers.

 

The minimum wage rate in Metro Manila is P429 per day, which amounts to P8,580.00 for 20 working days in a month. The SSS contribution rate at this wage level is P945.00, of which P308 is the employee's share while the employer's share is P636.20.

 

For private sector employees who earn more than P15,750 per month in compensation income, the total contribution is P1,790, for the employee's share of P581.30 and employer's share of P1,208.70.