A lawmaker has called for a congressional inquiry into the plan of the Social Security System and the Philippine Insurance Corporation to increase the monthly contributions of their respective members.

Rep. Terry Ridon (Party-list, Kabataan), author of House Resolution 777, said in a press release from Congress that the plan of the two agencies  to increase the contribution rates endangers the rights and welfare of Filipino workers.

"The premium contribution hikes of SSS and PhilHealth will definitely add to the burden of Filipino workers and come at a time when the prices of basic prices of commodities and utilities are also on the rise," Ridon said.

He disputed the claim of   SSS and PhilHealth officials  that they are growing bankrupt noting the fact that the executives of both agencies  received huge bonuses in 2012.

Ridon said SSS gave out a total of P276 million to bonuses to its commissioners and executives, while PhilHealth also gave a whopping P1.8 billion in unaccounted bonuses to its officials.

On April 19, 2013, the SSS issued Resolution 262, which approved an increase in contribution from the previous 10.4 percent of the monthly salary credit to 11 percent and the monthly salary credit from P15,000 to P16,000.

President Benigno Aquino approved the increase in contribution on September 19 of the same year, the press release said.

Ridon said that under an SSS circular, the employers and employees should equally shoulder the six percent increase in SSS contributions.

He said the SSS assets were estimated to be about P 368 billion while its net income has also grown steadily, from P25.25 billion in 2011 to P36.2 billion in 2012.

Ridon said PhilHealth would also collect a 2.5 percent increase from its members.

Under the new contribution scheme of PhilHealth, members with a monthly salary of P25,000 and below will now pay a premium rate of P2,400 annually.

Salaried members earning less than P9,000 per month will now pay P200 per month, the press release added.*

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