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NewsTranscript
00:00This month, the additional contribution of workers in the private sector and voluntary members of the Social Security System or SSS will start.
00:09This year, it is 15% in accordance with the Social Security Act of 2018.
00:14That's from the 14% contribution from last year.
00:17The employer's answer is 10% while 5% will be deducted from the employee's salary.
00:23According to the SSS, this will help them to give better benefits
00:28and long-term security to their members.
00:32According to GMA News Online, former SSS President and CEO Rolando Makasait
00:38is urging Malacanang to remove the additional contribution first
00:42so that he can reduce the number of members.
00:45The SSS earned more than Php100 billion last year.
00:50Some youths also appealed to Malacanang and called it a cruel New Year's gift to increase the contribution.
00:57We are still trying to get permission from Malacanang about this.