MANILA -- With the increase in monthly contributions now inevitable following the enactment of the new SSS Law, the TUCP is expecting the SSS Board and management to provide a level-up, fast, efficient and quality service in exchange for members' increase monthly payment, TUCP President Raymond Mendoza said in a statement on Wednesday.
If the SSS will not render this improved quality service, actively paying members will be very disappointed and may be less supportive, resulting in a higher rate of delinquency among members. It is necessary therefore that the SSS give back quality service so members will feel the increase in their monthly contribution is worth it, Mendoza said.
The TUCP has withheld its support for the increase in monthly contributions for the past four years.
"Before, we have been telling SSS management to undertake reforms in improving its collection targets rather than directly increasing members' monthly payment by going after delinquent employers, reduce SSS bonuses and perks to SSS board and top execs, sell some assets, wisened its investments, and minimize unnecessary operational costs to improve liquidity," Mendoza said
"With the condonation program to delinquent employers on the way, we further see more income for SSS and looking at expanded membership who can avail of SSS benefits," he added.
However, with the increase in monthly pension benefits and the forthcoming additional Expanded Maternity Leave benefits and unemployment insurance benefits, the TUCP can no longer hold back its support for the contribution hike without risking that the pension system's reserve funds be compromised.
Thus, the TUCP now supports the increase in contributions beginning next month, Mendoza said. (TUCP PR)
