Do you remember PNoy's SONA wherein he indicated his approval of the increase in SSS Contributions?
PNoy said it was going to be 11% instead of 10.4%, and the Monthly Salary Credit would increase to 16,000 instead of 15,000.
methinks it will be implemented soon, perhaps in January 2014 so that Voluntary Members such as OFWs, and Self-Employed Members (SE/VM) would not have to adjust their advanced payments for this year.
Those who paid for more than one year would have to pay adjustments otherwise SSS may reduce the MSC by one step so that there are no underpayments. Also, those employers who are using Excel spreadsheets for their payroll need not adjust anything for the year.
So, if you were paying at the 15K MSC, which is 1,460.00 - it would now be 1,650 and if you wanted to continue to pay at the maximum level, it would now be 11% times 16,000 or 1,750 pesos.
Watch out for the SSS Announcement!!
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