The Social Security System (SSS) has issued Circular 2024-006 dated Dec. 19, 2024, reflecting an increase in mandatory contribution rates and adjustments to the monthly salary credit, pursuant to the provisions of Republic Act (RA) 11199 or the Social Security Act of 2018. These changes took effect on Jan. 1, 2025.
The key changes, which apply to all SSS members, including business employers and employees, household employers and domestic workers, self-employed individuals, voluntary members, and land-based Overseas Filipino Workers are the following:
1. The mandatory SSS contribution rate has increased from 14 percent in 2024 to 15 percent in 2025.
Under the new rates, employers will contribute 10 percent (from 9.5 percent in 2024), while employees will contribute five percent (from 4.5 percent in 2024).
2. The minimum Monthly Salary Credit (MSC) for business employers, employees, self-employed individuals, and voluntary members has been raised to P5,000, and the maximum MSC has been increased to P35,000.
The complete schedule of the revised contributions for 2025, detailing the required contributions for the Regular Social Security Program, the Employees’ Compensation Program and the Mandatory Provident Fund Program, among others, can be accessed at https://www.sss.gov.ph/sss-contribution-table/.
Please be guided accordingly.
Source:
P&A Grant Thornton
Certified Public Accountants