System (SSS) contributions, citing concerns over its impact on their already limited take-home pay.
The Alliance of Concerned Teachers (ACT) Private Schools criticized the increase from 14 to 15 percent, describing it as a burden on teachers and private sector workers who are already grappling with high inflation and low wages.
“This hike is the height of government insensitivity. Teachers and workers are barely surviving on their meager salaries, yet the government prioritizes confidential funds over social services,” said ACT Private Schools secretary general Jonathan Geronimo.
Starting this month, the increase will affect private sector employees, household employers, self-employed workers, voluntary members, and land-based overseas Filipino workers. The adjustment is part of the phased increases outlined in the Social Security Act of 2018, which aims to gradually raise the contribution rate to 15 percent by 2025.
While the SSS argues that the incremental hikes are necessary to ensure the pension fund’s financial sustainability, ACT Private Schools emphasized that workers are already burdened by rising living costs, high utility rates, and increased premiums for other mandatory contributions.
The group also criticized the government for failing to fully implement the promised P1,000 pension hike under the 2016 pension reforms. “The SSS seems more focused on extending its fund life through higher contributions rather than addressing the needs of its members,” Geronimo said.
ACT is demanding the immediate suspension of the contribution hike, the removal of confidential funds from the national budget, and the reallocation of resources to essential services like education and healthcare.
