New SSS Contribution Table April 2019
Effective April 1, 2019, the new table for SSS contributions will take effect. What this means for employed members is that both the employee’s share and employer’s share will be a bit higher than before.
So what are the main differences between the previous contribution table and the new one? Here’s a simplified list:
Higher percentage of contribution
In the previous contribution table, the SSS contribution was set at 11% of your monthly salary credit: 3.63% for the employee and 7.37% for the employer. But in the new contribution table, this is set at 12% of the monthly salary credit: 4% for the employee’s share and 8% for the employer’s share.
For example, at the P12,000 monthly salary credit bracket, the Employee’s share increased from P436 to P480 (difference of P44) while the Employer’s share increased from P884 to P960 (difference of P76)
Higher Minimum Bracket
In the previous SSS Contribution Table, the lowest salary bracket was at P1,000 while in the new SSS Contribution Table, the lowest salary bracket is now at P2,000. What this means is that for those whose monthly salary credit is P2,000 or below, your SSS contribution is pegged at P80 for the Employee’s share, while your Employer will contribute P160.
Higher Maximum Bracket
In the new SSS Contribution Table, the highest salary bracket is now at P20, 000. That means several brackets were added to the previous limit which was only P16,000 in the previous SSS contribution table. That means the maximum SSS contribution is now at P800 (vs P581.30) for the Employee’s Share and P1,600 (vs. P1,178.70) for the Employer’s Share.
If you are using a Payroll System or Payroll Software (such as Everything at Work) to automate your company’s payroll and calculation of government deductions and contributions, make sure that your system’s SSS contribution table is updated in time for your April 2019 payroll period.
You may download the new SSS Contribution Table here:
