On February 18, 2019, Republic Act (RA) No. 11199, also known as the “Social Security Act of 2018,” was signed into law. The salient provisions of RA No. 11199 include the rates and contributions, as well as the minimum and maximum monthly salary credits, in accordance with the following schedule:
The schedule is effective January of the year of implementation. The Social Security System has yet to release the Contributions Table for 2019. Moreover, any difference in 2019 contributions paid prior to the declaration of the law should be settled within the year.
Please be guided accordingly.
As published in SunStar Cebu, dated on 05 March 2019