Invest Daily Pro
  • Economy
  • Investing
No Result
View All Result
  • Economy
  • Investing
No Result
View All Result
Invest Daily Pro
No Result
View All Result
Home Top News

Go after delinquent firms, SSS told

by
January 6, 2025
in Top News
0
Go after delinquent firms, SSS told
0
SHARES
10
VIEWS
Share on FacebookShare on Twitter
SSS FACEBOOK PAGE

THE Social Security System (SSS) should go after delinquent employers with unsettled contributions first before implementing a members’ contribution hike this year, a political group said on Monday.

The state pension fund should strengthen its collection system and recommend the creation of special courts solely responsible for trying cases against delinquent employers, fast-tracking unpaid contributions, said Teodoro A. Casiño, chairman of political group Bayan Muna.

“It is unconscionable and downright immoral for the Social Security System to collect higher premiums from millions of ordinary employees when it has tens of billions of uncollected remittances from delinquent employers,” he said in a statement.

Republic Act No. 11999 mandated SSS to hike its contribution rate to ensure the pension fund’s sustainability, increasing by increments of 1% every two years. The contribution rate was set at 12% in 2019 and would settle to 15% this year.

For 2025’s contribution rate, employers would shoulder 10% of the fund contribution with the remaining 5% being charged from employees.

“It’s infuriating to think that the SSS has imposed another premium increase this year, while according to the Commission on Audit (CoA), they have yet to collect P89.17 billion from delinquent employers,” said Mr. Teodoro, referring to the findings by state auditors in the pension fund’s 2023 audit report.

There are about 420,600 delinquent employers in 2023, according to the CoA report. — Kenneth Christiane L. Basilio

ShareTweetPin

Related Posts

Have a taste of the perfect day in paradise with SULÀ Spirits
Top News

Have a taste of the perfect day in paradise with SULÀ Spirits

January 8, 2025
First months of 2025 likely rainy amid La Niña conditions, says PAGASA
Top News

First months of 2025 likely rainy amid La Niña conditions, says PAGASA

January 8, 2025
December inflation rises to 2.9%
Top News

December inflation rises to 2.9%

January 7, 2025
Outstanding debt hits fresh high of P16.09T
Top News

Outstanding debt hits fresh high of P16.09T

January 7, 2025
Outstanding debt hits fresh high of P16.09T
Top News

Outstanding debt hits fresh high of P16.09T

January 7, 2025
PHL end-December dollar reserves drop to $106.8B
Top News

PHL end-December dollar reserves drop to $106.8B

January 7, 2025
Next Post
La Niña conditions persist — PAGASA

La Niña conditions persist — PAGASA

Recommended

Quorn parent company suffers £63m loss as demand for plant-based products falls

Quorn parent company suffers £63m loss as demand for plant-based products falls

September 27, 2024
Slovenia Bao Casino: Games & Rewards

Slovenia Bao Casino: Games & Rewards

November 18, 2024
The Real Drivers of This Market: AI, Semis & Robotics

The Real Drivers of This Market: AI, Semis & Robotics

July 20, 2025
VRIC 2025: Experts Tout Hard Assets, Energy as Sure Bets Amid Uncertainty

VRIC 2025: Experts Tout Hard Assets, Energy as Sure Bets Amid Uncertainty

January 23, 2025
BDO posts P21.18-B profit in Q3

BDO posts P21.18-B profit in Q3

October 28, 2024
23 Buchiton outlets to open in Philippines

23 Buchiton outlets to open in Philippines

August 6, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Boundiali extends strike and depth at BDT3 and BST1

    Boundiali extends strike and depth at BDT3 and BST1

    February 16, 2026
    Editor’s Picks: Gold, Silver Prices Dip and Bounce Back, Plus Top Takeover Candidate

    Editor’s Picks: Gold, Silver Prices Dip and Bounce Back, Plus Top Takeover Candidate

    February 15, 2026
    Tech Weekly: AI “Scare Trade” Spills into New Sectors

    Tech Weekly: AI “Scare Trade” Spills into New Sectors

    February 14, 2026
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2026 investdailypro.com | All Rights Reserved

    No Result
    View All Result
    • About us
    • Contact us
    • Home
    • Privacy Policy
    • Suspicious engagement
    • Terms & Conditions
    • Thank you

    Copyright © 2026 investdailypro.com | All Rights Reserved