A higher contribution to the Social Security System (SSS) has been implemented as the New Year begins.
The monthly contribution rate for members in the private sector has now reached 15%, effective Wednesday, January 1.
This represents an increase of one percentage point from the previous rate of 14% in 2024.
According to the SSS, this adjustment is in accordance with the Social Security Act of 2018, which was signed into law by former President Rodrigo Duterte.
This change affects business employers and their employees, household employers and their domestic workers, as well as self-employed individuals, voluntary members, and land-based overseas Filipino workers.
Meanwhile, Maynilad implemented an increase of P7.32 per cubic meter for unsewered residential lines and P8.11 per cubic meter for sewered lines, primarily affecting businesses beginning Jan. 1,2024. Consequently, the price per cubic meter will rise from P58 to P66.
While Manila Water raised its rates by P5.95 per cubic meter for unsewered residential lines and P7.58 per cubic meter for sewered lines, resulting in a new price of P61 per cubic meter, up from P58.
Additionally, Meralco has announced an increase of P0.1048 per kilowatt-hour (kWh) for December 2024, bringing the overall electric rate for a typical household to P11.9617 per kWh, an increase from P11.8569 per kWh. (ZIA LUNA)
