PHSenate Deputy Minority Leader Risa Hontiveros called for the deferment of the Social Security System (SSS) contribution hike, warning that the increase would further strain workers' wages, which have already struggled to keep up with the rising prices of goods.
Hontiveros filed Proposed Senate Resolution No. 1269, urging a Senate investigation into the SSS contribution hike and its potential impact on Filipino workers.
"Habang pababa ng pababa ang halaga ng kinikita ng ating mga kababayan nitong mga nakaraang taon, pataas ng pataas naman ang investment earnings ng SSS. Saan naman nila dadalhin itong super tubo na 'to? Baka magulat na lang tayo at ilagay nila 'yan sa Maharlika Fund," Hontiveros said on Wednesday, January 15.
She pointed out that in 2024, SSS' net income reached over ₱100 billion, contributors increased by almost 30%, and its fund life was extended until 2053. "It’s clear that SSS can afford to postpone the increase," she added.
Hontiveros cautioned that implementing the hike this year would exacerbate the financial burden on workers and some middle-class Filipinos, many of whom still face financial strain due to the pandemic and inflation.
"Halos wala pa ring ipon ang ilan sa ating mga kababayan dahil sa pandemya at nabawasan pa nga ang halaga ng kanilang kinikita dahil sa inflation. Huwag na muna sanang bawasan ng SSS ang kanilang take-home pay na maliit na nga, mas liliit pa dahil sa contribution hike," she said.
The senator also noted that the contribution hike was approved in 2018, long before the pandemic and its ongoing economic impact.
Hontiveros stressed the need for further study on the hike to ensure a balance between the financial stability of SSS and the welfare of workers.
"Huwag muna nating ipatupad ang SSS contribution hike habang pinag-aaralan natin ito ulit. Manatili sanang salbabida ang SSS sa mga panahon ng pangangailangan, imbes na lalo pang magpalubog sa mga miyembro nito," she concluded.