PASAY CITY, Dec. 24 -- The Social Security System (SSS) said its new contribution schedule and Workers’ Investment and Saving Program (WISP) will be implemented starting January 2021 pursuant to Republic Act No. 11199 or the Social Security Act of 2018. In a virtual press conference held today, SSS President and CEO Aurora C. Ignacio said that the SSS’ contribution rate would be set at 13 percent from the current 12 percent next year.
She added that the minimum monthly salary credit (MSC) would be adjusted to P3,000 from the current P2,000, except for Kasambahay and OFW members whose minimum MSC will respectively remain at P1,000 and P8,000, while the maximum MSC will be at P25,000 from P20,000.