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The Social Security System (SSS; Filipino: Paseguruhan ng mga Naglilingkod sa Pribado) [4] is a state-run social insurance program in the Philippines to workers in the private, professional and informal sectors. SSS is established by virtue of Republic Act No. 1161, better known as the Social Security Act of 1954.
Created by Commonwealth Act No. 186 and Republic Act No. 8291 (GSIS Act of 1997), GSIS is a social insurance institution that provides a defined benefit scheme. It insures its members against the occurrence of certain contingencies in exchange for their monthly premium contributions.
Contribution And Benefit Base; Go Ahead and Lift the Cap, article by economist John Miller on raising the SSWB, Dollars & Sense magazine, March/April 2008; Over 50 Programs; The Evolution of Social Security's Taxable Maximum, See Table 1: Tax max levels, level-setting mechanisms, and policy rationales, 1937–2011
$70,000 in 2025 ($69,000 in 2024) The SEP IRA is an employer contribution rather than an employee contribution, so it’s made by the company rather than the individual.
The maximum contribution for self-only coverage is $4,300 ($4,150 in 2024). The maximum contribution for family coverage is $8,550 ($8,300 in 2024). Those age 55 and older can make an additional ...
Finally, starting in 2024, families can roll unused 529 plan funds to a Roth IRA in the beneficiary’s name without triggering income taxes or penalties.This new rule, signed into law as part of ...
On August 2, 2024, the Senator Koko Pimentel public health advocates group filed certiorari and prohibition with restraining order to stop the transfer of P89.9 billion PhilHealth funds to the national budget. The petitioners challenged the constitutionality of DOF Circular No. 003-2024.
On top of these amounts, workers aged 50 and older can add up to $7,500 more annually as a catch-up contribution in 2025, the same amount as 2024. Starting in 2025, the catch-up contribution for ...