Transparency on SSS officials’ bonuses pressed

Senate Minority Leader Aquilino “Koko” Pimentel III on Monday called for “full transparency” on the bonuses received by ranking officials of the Social Security System (SSS).

Pimentel called for an audit of the performance of the SSS board as he voiced support for the immediate suspension of the planned hike in member contributions.

“I agree with them. The increase in SSS premium contributions does not lead to increases in members’ benefits,” he said.

“The SSS should be fully transparent about the bonuses that it gives to its bigwigs. The performance of the board, as well as the funds, must be audited, assessed, and judged by the members themselves,” he stressed.

Former SSS president and CEO Rolando Ledesma Macasaet on 5 January called on President Ferdinand Marcos Jr. to postpone the 15-percent increase in contribution rates.

The hike in premiums, which will take effect this month, are mandated by the Social Security Act of 2018 which states that the SSS is required to increase its contribution rate every two years.

With the premium hike, employers are mandated to shoulder a 10-percent share of the contribution, while employees will contribute five percent.