Senate authorizes Duterte to defer SSS rate hike

The Senate on Monday unanimously moved to authorize President Duterte to defer the scheduled hike in Social Security System (SSS) contributions. Voting 21-0, the chamber passed Senate Bill No. 2027 on third reading, three weeks after the House of Representatives approved a similar measure on Feb. 1. The bill allows the President to defer the SSS contribution increase by six months, upon the recommendation of the Social Security Commission, and, if needed, by another six months. It will amend Republic Act No. 11199, or the Social Security Act of 2018, which increases SSS premiums to 13 percent in 2021. —DJ Yap