The Sangguniang Panlungsod of Bacolod has joined the opposition to the proposal of the Social Security System of an eleven percent increase in premiums, and approved a resolution for its deferment, a press release from the city said.
Councilor Caesar Distrito filed a resolution asking for deferment of the proposal for the sake of employees and the self-employed individuals, because of the continuing surge in the prices of commodities, the press release said. Councilor El Cid Familiaran, meanwhile, said that increasing the premiums will redound to increased retirement benefits – or the equivalent of P5 for every peso contributed. Councilor Al Victor Espino said the Philippine peso is not worth what it was two to three months ago with the prices of commodities on the upswing. He also said he wonders how SSS services can be improved for the members if premiums are limited to the present rate of contributions.* Visayan Daily Star
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