DOOCDudes Out of Control (gaming clan)
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"As valuable partners of the pension fund, we want to help them instead of giving much burden by providing lenient ways in paying their financial obligations to SSS," Dooc said.
Dooc said the increase would be brought about by one of the main provisions of the bill, which increases the SSS contribution rate by one percentage point every other year starting 2019 until the current rate of 11 percent rises to 15 percent in 2025, and adjusts the minimum and maximum salary credit of members.
Dooc also said their uncollected contributions and penalties had reached only P13.8 billion, not P437 billion, as per COA's 2017 report.
It will benefit Bicolanos in Daet as social security protection is now within their reach,' Dooc said, noting that the center, after construction, is expected to accommodate 603,000 registered members.
"We're glad that the LRP has once again served its purpose of providing members an immense relief from paying their loan delinquencies through flexible and affordable payment terms and conditional condonation of loan penalties," Dooc said.
Dooc said the mobile application was launched to provide members with more convenient means to view their personal records and other relevant information without visiting SSS branches.
Dooc said the SSS had gradually increased its contribution collections from members-from P132 billion in 2015 and P144 billion in 2016 to P159 billion in 2017 and to P181 billion in 2018.
'[The] SSS recognizes that a large number of members residing in Luzon are currently struggling to recover from the devastation of Ompong,' Dooc said.
We'll present the numbers from our actuarial study soon," Dooc said.
Dooc earlier said the SSS has initially set aside P10 billion for the implementation of the program.
In this regard, the SSS may have to raise the contribution rate by a total of 1.5-1.6 percentage points this year to 12.6 percent to implement both RA 11199 as well as the Expanded Maternity Leave law, Dooc said.