A hike in Social Security System (SSS) member contributions has taken effect with the arrival of a new year.

Beginning January, the contributions rate has risen to 15 percent under the Republic Act 11199, also known as the Social Security Act of 2018. A 1 percent increment is introduced every two years, with contributions set at 12 percent in 2019 until the rate climbs to 15 percent, in keeping with the law.

Employers will fork out 10 percent of the contribution, while the remaining 5 percent will come from employees’ salaries. Self-employed and voluntary members will, of course, have to pay in full.

“These changes are designed to strengthen the Social Security System, at magbigay ng mas magagandang benepisyo at pangmatagalang financial security para sa lahat ng miyembro (and provide better benefits and long-term financial security for all members),” the SSS stated.