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House approves bill giving SSS power to raise contributions

The House of Representatives has passed on third and final reading the bill that gives officials of the Social Security System (SSS) the power to make independent financial decisions.

House Bill 2158 removes the need for SSS to seek the President’s approval whenever the agency wants to increase or make adjustments to the rate of contributions of members.

This matter will just be taken up by the SSS Revenue Board.

227 lawmakers gave their nod to the measure, while 7 opposed and one abstained from the voting.

If enacted into law, the bill amends the current charter of the SSS.

Topics: SSS , pension , contributions , bill , legislation
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