Labor Secretary Silvestre Bello 3rd on Monday said the higher monthly contribution of members of the Social Security System should be seen as long-term savings instead of an expense.
“We must bear in mind that an actively paying SSS member can avail of social benefits and loan privileges,” Bello added.
An increase of 1.5 percent from the current 11 percent for the monthly premium will be implemented in May this year.
The additional total contribution will range from P15 to P740 and will be equally shared by the employer and the employee.
The SSS said it will ensure fund sustainability by, among, others, taking legal actions to reduce contribution delinquency and seeking executive intervention to improve collection.
Meanwhile, the Labor department said it will continue strict implementation of the Labor Laws Compliance System (LLCS), specifically on monitoring establishments’ compliance with mandated social benefits—SSS, PhilHealth and Pag-IBIG payments and remittances.
“This is one way of safeguarding and protecting the rights of our workers. It is also the employers’ legal and moral responsibility to their employers,” Bello said.
The LLCS also checks the workplace’s observance of labor rights and key indicators in the country’s work profile like the observance of monetary benefits prescribed by law including but not limited to minimum wage, overtime pay, holiday pay, night shift differential pay, service incentive leave pay and 13th month pay.
DOLE regional offices also check if an establishment is registered with the department and observes Occupational Safety and Health Standards (OSHS) through implementing use of personal protective equipment, establishing safety and health committee and complying with administrative reports on safety and health.