Press Release
February 21, 2020


Senator Richard J. Gordon welcomed the Social Security System's (SSS) reported increased contribution collections due to the Republic Act 11199 or the Social Security Act of 2019, which aimed to lengthen the life of the state-run pension fund, among others, by providing for a gradual increase of members' monthly contributions. Gordon, author and sponsor of RA 11199 which was signed into law in February last year, said increased collections would enable the SSS to extend better social security protection to Filipinos here and abroad and extend its fund life.

"The purpose of this law is to uplift the dignity of our people. Magsa-sacrifice ang mga members ngayon by contributing more but they will enjoy a dignified retirement later on. When they retire, they will retire with a measure of prosperity. This law will encourage SSS members to save and invest more so they would reap higher and better benefits. This is called forced savings. Lalaki ang contribution mo, pero mas malaki at mas maganda ang mga matatangap na benepisyo," he said.

Data from the SSS showed that the contribution collections is expected to increase by 22.7% in 2019, or P221.97-billion compared to the P180.98-billion collected in 2018. The same data showed that the monthly contribution collections increased by an average of P1.64-billion.

Contribution collections from May to October 2019 increased to P19.65-billion per month compared to P15.01-billion per month collected in the same period in 2018.

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